What are the variables of economic?

Major macroeconomic variables such as GDP, CPI, PPI, Consumer Confidence Survey, Current Employment Statistics, Inflation, the Labor Market, currency exchange rate, and interest rate with GDP growth rate depends on the state of the economic development.

What are the 3 economic variables?

Economists assess the success of an economy’s overall performance by studying how it could achieve high rates of output and consumption growth. For the purpose of such an assessment, three macroeconomic variables are particularly important: gross domestic product (GDP), the unemployment rate, and the inflation rate.

What are the four economic variables?

There are 4 main macroeconomic variables that policymakers should try and manage: Balance of Payments, Inflation, Economic Growth and Unemployment.

What are the five economic variables?

There are 5 common terms in macroeconomics that are considered in aggregate: output, gross domestic product ( GDP ), production, income, and expenditures.

What are the variables of economic development?

Economic development is impacted by a number of factors of different nature. Among those the following stand out: skilled labor, capital, technology, natural resources, political environment, market access, financial capacity, education, social capital.

What are the 4 main macroeconomic indicators?

Here are four key macroeconomic indicators and what they can tell us about the (economic) future.

  • Purchasing Managers Index (PMI)
  • Consumer Price Index (CPI)
  • Unemployment rate.
  • Central bank minutes.

What are the variables of economic growth?

The variables of the study are the economic growth (GROWTH), the inflation rate (INF), the money supply (MS), the interest rate (IR), the gross capital formation as a proxy for domestic investment (INV), the labor growth (LPR) and finally TRADE as trade openness.

What are the major variables of microeconomics?

– Quantity produced: it’s the quantity of goods produced by firms in a given period of time. – Wages: a payment for labor in a given period of time. – Cost of Inputs: the expenditure incurred to produce a good or service. – Individual investment: the expenditure that will give benefits in the not immediate future.

What variables affect the economy?

Top 10 Economic Factors Affecting Business

  • #1- Interest Rate. Interest rate is a major factor that affects the liquidity of cash in the economy.
  • #2 – Exchange Rate.
  • #3 -Tax Rate.
  • #4 – Inflation.
  • #5 – Labor.
  • #6 – Demand / Supply.
  • #7 – Wages.
  • #8 – Law and Policies.

What are different variables of development?

Development involves innumerable variables, including economic, social, political, gender, cultural, religious, and environmental factors.