1.1 - Definition
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Practice Questions
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What does GDP stand for?
💡 Hint: It's a measure of total production.
What is inflation?
💡 Hint: Think of prices going up.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What does macroeconomics study?
💡 Hint: Think about the broader scope.
True or False: GDP only considers final goods and services.
💡 Hint: Think about what counts in GDP.
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Challenge Problems
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Suppose a country's GDP grows significantly, but inflation rises at an even faster pace. What could be the potential economic consequences?
💡 Hint: Consider how inflation impacts consumer behavior.
If a government implements policies to lower unemployment but ignores inflation, what might happen in the long term?
💡 Hint: Think about the balance needed in economic policies.
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