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For this week we were instructed to choose and discuss the impacts of two of the macroeconoic variables on the business environment. Looking at the three variables, Gross Domestic Product (GDP), the unemployment rate, and the rate of inflation we can see how these affect the business environment. Gross domestic product measures the value of goods and services produced in a country during a year (Macroeconomics, 2008). The GDP can be an indicator of how well the economy is performing. Although, there are many hurdles in using the GDP as an accurate reflection. Figuring out how things are classified, consumption and investment, as well as what is being measured the output being units of money or the amount of goods, etc. (Andolfatto, 2008). As long as you are comparing apples to apples, using the GDP can be a fairly accurate indication of what is taking place. The second variable that can affect the business environment is the unemployment rate.
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