which are indicators that economists use to measure how an economy grows? select two options.\n\nmonitoring…

which are indicators that economists use to measure how an economy grows? select two options.\n\nmonitoring election results\nmeasuring how much the economy produces\nmonitoring the popularity of different music groups\nstudying the economy of another country\ntracking the unemployment rate

which are indicators that economists use to measure how an economy grows? select two options.\n\nmonitoring election results\nmeasuring how much the economy produces\nmonitoring the popularity of different music groups\nstudying the economy of another country\ntracking the unemployment rate

Answer

Brief Explanations:

Economists use specific macroeconomic indicators to assess the health and growth of an economy.

  1. Measuring production: This is primarily done through Gross Domestic Product (GDP), which calculates the total value of all goods and services produced within a country over a specific period. An increase in production signifies economic growth.
  2. Tracking the unemployment rate: This indicator measures the percentage of the labor force that is jobless and actively seeking employment. Low unemployment rates generally correlate with a growing economy where businesses are expanding and hiring. Other options like election results, music popularity, or studying other countries are political, cultural, or comparative factors rather than direct internal growth metrics.

Answer:

  • measuring how much the economy produces
  • tracking the unemployment rate