Economic Inflation and GDP

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The economy is actually the wealth and the resources of a country. It is actually measured in terms of consumption, production of goods and services in a country. The economy of a country is determined by various aspects (Weil, 2014). Among them is the Gross Domestic Product (GDP), which is defined as the monetary value of all the goods and services produced by a country in a particular period. GDP is annually calculated. Another aspect that measures the state of the country’s economy is the inflation rate. Inflation is the sustained increase in the general levels of goods and services prices measured annually as a percentage. On the other hand, the unemployment rate can affect the economy of the country. The unemployment rate refers to the measure of the labour force that is unemployed but is capable and willing to work

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NameTitleCourseDateIntroductionThe economy is actually the wealth and the resources of a country. It is actually measured interms of consumption, production of goods and services in a country. The economy of a countryis determined by various aspects (Weil, 2014). Among them is the Gross Domestic Product(GDP), which is defined as the monetary value of all the goods and services produced by acountry in a particular period. GDP is annually calculated. Another aspect that measures the stateof the countrys economy is the inflation rate. Inflation is the sustained increase in the generallevels of goods and services prices measured annually as a percentage. On the other hand, theunemployment rate can affect the economy of the country. The unemployment rate refers to themeasure of the labour force that is unemployed but is capable and willing to work.This case study analyzes these aspects in three different countries; United States of America,Australia and Germany. The study is going to explore the rate at which the Gross DomesticProduct, inflation and the unemployment rate affect the economy of the countries and plot thetrend from the last 10 years. That is from 2004 to 2013. The economy of the country isdetermined by many factors (Durlauf & Blume, 2014). Each of the factors explained above has acontribution to the economy of the country though at different percentages. The relationshipbetween the countries in terms of these indicators are also different and
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