which indicators do economists use to determine the state of the economy? choose three answers. \nprices…

which indicators do economists use to determine the state of the economy? choose three answers. \nprices \nimmigration levels \nagricultural output \nemployment levels \ngross domestic product (gdp)

which indicators do economists use to determine the state of the economy? choose three answers. \nprices \nimmigration levels \nagricultural output \nemployment levels \ngross domestic product (gdp)

Answer

Answer:

prices, employment levels, gross domestic product (GDP)

Brief Explanations:

  • Prices: Fluctuations in prices (e.g., inflation or deflation) reflect supply - demand imbalances in the economy.
  • Employment levels: High employment indicates a strong economy as more people have income to spend, while low employment (high unemployment) suggests economic weakness.
  • Gross domestic product (GDP): It measures the total value of goods and services produced within a country's borders. A rising GDP generally means economic growth, and a falling GDP may signal a recession.

Immigration levels are more related to demographic and social policies rather than being a direct core economic indicator. Agricultural output is a part of the economy but is not as comprehensive as GDP, and it is more relevant to the agricultural sector specifically rather than the overall state of the economy.