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Macroeconomic Forecast Outline
Macroeconomics is, "the part of economics concerned with the economy as a whole; with such major aggregates as the household, business, and government sectors; and with measures of the total economy" (McConnell & Brue, p.13). "Two of the most critical questions in macroeconomics are: (1) What determines the level of GDP, given a nation's production capacity? (2) What causes real GDP to rise in one period and to fall in another?" (McConnell & Brue, p.72).
So how do economists measure the economy as a whole? What are the indicators and variables they measure? Where are the forecasts obtained? And what historical data do they use? The paper will list these indicators and variables, including the importance and types of historical data.
The Economic Indicators
• Net domestic product (NDP) is the result of GDP less consumption of fixed capital or depreciation. According to our text, "it measures the total annual output that the entire economy,...

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Title: Macroeconomic Forecast
Approximate word count: 1702
Approximate pages: 7 (250 words per double-spaced page)

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