Gross Domestic Product (GDP): GDP measures the total value of all final goods and services produced within a country during a specific time period. It serves as an indicator of economic growth.
Unemployment Rate: The unemployment rate represents the percentage of people who are willing and able to work but cannot find employment. It helps gauge how effectively labor resources are being utilized within an economy.
Fiscal Policy: Fiscal policy involves government decisions regarding taxation and spending aimed at influencing economic activity. It can be expansionary (increasing spending) or contractionary (reducing spending) to manage the economy.