Question

What other economic outcomes (besides GDP, unemployment, inflation and budget surplus) are important measures of macroeconomic success?

Answer 1

Other economic outcomes which are important measures of macroeconomic success:

• Gross National Product: The value of goods and services produced by a nation (GDP) and income from foreign investments.
• Current account: Which is net trade in goods and services with rest of the world
• National debt: It includes the borrowings which government owes to its creditors.
• Income inequality: It shows the uneven distribution of income among the different segments of polulation.
• Exchange rate: Which determines the value of home currency with another country.
• Human development index : It takes into consideration life expectancy, education and per capita income of a particular country.