Full employment, stability, and economic growth are the three macroeconomic goals most relevant to the aggregate economy and consequently are of prime importance to the study of macroeconomics.

There are four major goals of economic policy: stable markets, economic prosperity, business development and protecting employment.

Goals. In thinking about the overall health of the macroeconomy, it is useful to consider three primary goals: economic growth, full employment (or low unemployment), and stable prices (or low inflation). Economic growth ultimately determines the prevailing standard of living in a country.

Economic indicators can be classified into three categories according to their usual timing in relation to the business cycle: leading indicators, lagging indicators, and coincident indicators.

Coincident indicators, which include such things as GDP, employment levels, and retail sales, are seen with the occurrence of specific economic activities. Lagging indicators, such as gross national product (GNP), CPI, unemployment rates, and interest rates, are only seen after a specific economic activity occurs.

There are three types of economic indicators, depending on their timing: leading, lagging, and coincident indicators.

Type of indicators

• Input indicators. These indicators refer to the resources needed for the implementation of an activity or intervention.
• Process and output indicators. Process indicators refer to indicators to measure whether planned activities took place.
• Outcome indicators.
• Impact indicators.

Most indicators are themselves weak acids and respond to changes in the hydrogen ion concentration.

• pH Scale and Acid and Base Indicators. The pH range functions between 0 to 14 with 7 being neutral.
• Litmus Paper.
• Phenolphthalein Indicator.
• Bromothymol Blue Indicator.
• Methyl Red Indicator.
• Universal Indicator.

Artificial and Natural indicators are the two types of Chemical indicators.

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Indicators are substances that change colour when they are added to acidic or alkaline solutions. Litmus, phenolphthalein, and methyl orange are all indicators that are commonly used in the laboratory….Litmus.

Phenolphthalein

Double indicator acid-base titration: One indicator is not able to give color change at every end point. So to find out each end point we have to use more than one indicator. It is because all indicator changes color on the basis of pH of medium. So in titration of against acid phenolphthalein cannot be used.

The role of indicator in titration is to detect the endpoint of the titration. When the colour of the solution changes, it indicates that the concentration of the chemical specie has reached a critical range. This change in colour is possible with the help of indicators.

Potassium Permanganate is a flexible and potent oxidant which can be used by overt or indirect titration to classify many compounds. A special value of Potassium Permanganate is that it acts as an indicator of its own. Permanganate titration must be carried out in a heavy acid solution.

Solutions for KMnO4 are dark purple. When used as a titrant, the solution has a lasting pink shade as soon as the end point is hit and the KMnO4 is in excess (provided that the solution is initially colorless). KMnO4 thus serves as an indicator of its own.

Permanganate Titration EndpointA redox titration

Potassium Permanganate is a versatile and powerful oxidant that can be used to determine many substances by direct or indirect titration. A unique advantage of Potassium Permanganate is that it serves as its own indicator.

As in acid-base titrations, the endpoint of a redox titration is often detected using an indicator. Potassium permanganate (KMnO₄) is a popular titrant because it serves as its own indicator in acidic solution.

Let us look at a specific case where a secondary standard is useful: potassium permanganate is exceptionally useful as a titrant because it serves as its own indicator where the presence of a purple color signifies the end point, but it is unstable in light or heat due to this reaction: 4MnO4−+2H2O⟶4MnO2+3O2+4OH−.

KMnO₄

The above reaction can be performed in an acidic or a basic medium….Chemical Properties Of Potassium Permanganate.