Q:

What is a list of economic variables?

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Quick Answer

Economic variables include: gross domestic product, consumer price index, producer price index, employment indicators, retail sales and consumer confidence. These variables, also referred to as indicators, provide quantitative data about the state of an economy.

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What is a list of economic variables?
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Full Answer

Gross domestic product is often considered the leading indicator of an economy and is a measure of the entirety of goods produced within a nation. The figures for gross domestic product are released quarterly and annually. The consumer price index is one indicator of inflation and measures the rate of increase in the cost of goods and services. Similarly, the producer price index measures the price of wholesale goods.

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Related Questions

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    Is GDP a good measure of economic well-being?

    A:

    The GDP (gross domestic product) is not considered to be a good measure of economic well-being by many because it only measures the sales and income from economic purchases rather than looking at any moral implications. An example might be an increase in gun sales, which raises the GDP and would be considered positive; however, that raise in gun sales might have been due to sales among the criminally-minded.

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    What is the difference between GDP and GNP?

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    What type of economy does Greece have?

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    How does recession affect the economy?

    A:

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