discussion s - Gross domestic product or(GDP is referred to...

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Gross domestic product or (GDP) is referred to as “the total value of final goods and services produced in the domestic economy over some given period of time.” (Adolfatto, 2008, p2) When entailing macroeconomics you encompass the good and the bad; or detrimental all into one surrounding the (GDP) this environment differs from microeconomics as it entails the entire economic process and concepts; when micro covers specifics concepts. For instance a restaurant owner wants to see or forecast how well his/her business would do during an expansion process. This process entails forecasting, inflation predictions, and much more with macroeconomics. In dealing with inflation in my opinion it is the rise in cost in relation to everything around it for instance the economy. The book term defines inflation as “prices tends to grow over time; such a phenomenon is known as inflation” (Adolfatto, 2008, p19) Inflation is a huge part and concept of the economy especially during the rise and fall of the economy. For instance
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