Explain the interaction of households and government

Assignment Help Macroeconomics

Reference no: EM1329940

Economics - Definition of Common Terms

Please help with the following:

1. Define the following terms:

Gross Domestic Product (GDP)
Real GDP
Unemployment rate
Inflation rate
Interest rate

2. Explain how the circular flow diagram illustrates the interaction of households, government, and business.

Answer should be approx. 700-800 words in length.

Reference no: EM1329940

Questions Cloud

Assume you flipped an honest coin : Assume you flipped an honest coin 10 times and heads came up 8 times.

Use of time value of money : From any general internet source provide a concise description of example which illustrates the use of time value of money. Please cite and reference the source.

U.s. supreme court rule : Why did the U.S. Supreme Court once rule that the federal income tax was unconstitutional?

Plan a java class named mypoint to represent a point : create the class, and also write a test program that creates two points (0, 0) and (10, 30.5) and displays the distance between them.

Explain the interaction of households and government : Elucidate how the circular flow diagram also explain the interaction of households, government, and business.

What is a best way to address issues : What is the best way to address issues and concerns in a Real network management system (NMS) as it pertains to the processes that take place through out network discovery and mapping of the network.

Why is the roi process model important : Why is the ROI Process model important?

Illustrtae the marginal product of labor : Illustrtae the marginal product of labor.

Time value of money solution : How much more must Keith save each year (suppose end of the year payments) for each of next eight years to have enough savings to pay for his daughter? Assume Keith can earn 9% on his savings.

User Account

All Pages