Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity

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    Fundamentals of Macroeconomics Paper
    Part 1
    Describe the following terms in your word.

    ·        Gross domestic product (GDP)

    ·        Real GDP

    ·        Nominal GDP

    ·        Unemployment rate

    ·        Inflation rate

    ·        Interest rate
    Part 2

    Consider the following examples of economic activities:



    ·        Purchasing of groceries

    ·        Massive layoff of employees

    ·        Decrease in taxes



    Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.



    Write a 700- to 1,500-word paper summarizing the results.

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