(57) NEW- Macro Unit 2 Summary- Economic Indicators

Gross Domestic Product (GDP): The total value of all goods and services produced within a country over a specific time period, serving as a primary indicator of economic health.

Unemployment Rate: The percentage of the labor force that is jobless and actively seeking employment, indicating the economy's ability to create jobs.

Inflation Rate: Measures the rate at which the general level of prices for goods and services is rising, eroding purchasing power.