Why do you think macroeconomists focus on just a few key statistics when trying to understand the health and trajectory of an economy?

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04-07-2017
Business

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Why do you think macroeconomists focus on just a few key statistics when trying to understand the health and trajectory of an economy?

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meerkat18 meerkat18 · Answer 1 · 2017-07-18T12:32:04+02:00

meerkat18 meerkat18

18-07-2017

Macroeconomics focal point on a few essential statistics, real GDP, unemployment, and inflation because it is too tough to process all of the data in each market or for every good or service in the economy. By using these three abstract it measures economists can obtain some insight into the health of the economy as a whole.

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