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David Hudgins

In: 21st Century Economics: A Reference Handbook

Chapter 29: Measuring and Evaluating Macroeconomic Performance

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Measuring and Evaluating Macroeconomic Performance
Measuring and evaluating macroeconomic performance

The performance of a nation's economy actualizes as both cause and effect. The phase of the economic cycle serves as a catalyst that permeates the decisions of individuals, business firms, and government policy makers on a continuous basis. It affects the prices and yields of financial assets, the spending decisions of consumers, corporate borrowing and investment, and choices available to general public. Yet the course of economic activity is also the result of the expectations and actions of its participants. Their collective behavior works in conjunction with the state of nature, which may include favorable conditions or unfavorable conditions, such as excessive droughts, flooding, or other disasters, to guide the economy along its trajectory.

Despite the importance ...

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