What are economic indicators used to understand?
The evolution of an economy over time or across countries.
What does gross domestic product (GDP) measure?
Money produced within a country’s national territory by nationals and non-nationals.
What does the trade balance compare?
A country's exports with its imports.
When does a country have a trade surplus?
When it exports more than it imports.
Economic indicators
Figures to understand economic changes.
GDP vs GNP
GDP: production inside borders; GNP: nationals' production.
Trade surplus
Exports > imports, earning more.
Trade deficit
Imports > exports, spending more.
Tariff
Tax paid on crossing borders.
Reciprocal tariffs
Mutual tariffs between two countries.
CPI
Measures monthly price changes of products.
Answer 9 questions on Economics Basics and Indicators.
1. What do economic indicators help analysts understand?
2. What does gross domestic product measure?
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