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Real GDP and inflation rate are key indicators used to monitor short-run changes in economic activity.
Real GDP is the most frequently watched indicator of economic performance, giving insight into the overall production of the economy. Alongside inflation rate, which measures the percent change in prices, these indicators help monitor short-run changes in economic activity.
For example, understanding how real GDP grows at different rates and how inflation impacts the purchasing power of currency can provide crucial information for policymakers and businesses to adjust their strategies accordingly.
Monitoring these indicators is essential for gauging economic health and making informed decisions in response to fluctuations in economic activity.
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