Which of the following describes economic indicators?

Economic indicators are essential statistics that provide insight into the overall health and performance of an economy. They encompass a wide range of data points that help assess current economic conditions, make comparisons over time, and forecast future trends.

By analyzing these indicators, economists, policymakers, and businesses can gauge whether an economy is growing, stagnant, or in decline. Common examples include GDP growth rates, unemployment rates, inflation rates, and consumer confidence indices. Each of these measures plays a crucial role in drawing a picture of economic activity and guiding decisions at various levels, from government policy to individual investment choices.

The other choices presented narrow the definitions in specific ways. For instance, some focus only on aspects like inflation or specific data like personal income tax, rather than the broader scope of economic performance and prediction. This limited scope does not capture the entirety of economic indicators.