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The three basic measures of macroeconomic performance are Gross Domestic Product (GDP), unemployment rate, and inflation rate. GDP quantifies the total value of goods and services produced in an economy, reflecting its overall economic activity. The unemployment rate indicates the percentage of the labor force that is jobless and actively seeking employment, serving as a measure of labor market health. The inflation rate measures the rate at which prices for goods and services rise, indicating the purchasing power of money and overall cost of living.

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