Economics: Analysis of GDP, Unemployment, Inflation, and Aggregate Demand and Supply

ECONOMICS

Table of Contents
INTRODUCTION..............................................................................................................2
ANALYSIS........................................................................................................................3
GDP (GROSS DOMESTIC PRODUCT).......................................................................3
UNEMPLOYMENT........................................................................................................4
INFLATION................................................................................................................... 5
AGGREGATE DEMAND AND SUPPLY.......................................................................6
COMPARE AND CONTRAST US, CHINA AND AUSTRALIA ON GDP,
UNEMPLOYMENT AND INFLATION AND GIVE YOUR OPINION..............................7
CONCLUSION................................................................................................................. 8
REFERENCES.................................................................................................................9
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INTRODUCTION
In order to attain economic growth, equilibrium stability is vital. The term Economic
growth can be defined as a rise in the ability of an economy to produce goods and
services over a period of time. The conventional method to measure Economic growth
is through measurement of real GDP i.e. Gross Domestic Product. In the study of
Economics, the existence of a stable equilibrium is justified when the equilibrium of a
model or system returns to its original state if disrupted by an exterior force. In the
assignment, the Gross Domestic Product, unemployment and inflation will be explained
along with the aggregate demand and supply concepts. Also, a comparison of the
countries: US, Australia and China is done on basis of the inflation rate, unemployment
and GDP.
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