Some important ideas in macroeconomics are "GDP," "inflation," and "unemployment." π GDP, or
Gross Domestic Product, measures how much stuff a country makes in one year. For example, in 2021, the USA's GDP was about $22 trillion! π΅
Inflation is when prices rise, meaning you need more money to buy the same things, like toys or candy. π¬
Finally, unemployment shows how many people donβt have jobs. In 2020, during the pandemic, unemployment rates in some countries reached over 14%! Understanding these concepts helps us know how an economy is doing! π