Macroeconomics Essentials: GDP, Unemployment, Inflation and Economic Indicators

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Economics - Macroeconomics

charlotte1oxhi Created by 10 mon ago

Cards in this deck(24)

What is the study of the United States economy as a whole called?

What term describes the total market value of all final products produced in a country within a certain period of time?

What is GDP measured in current prices known as?

What is GDP measured in base year prices called?

What is the measure of the price level calculated as the ratio of nominal GDP to real GDP times 100?

What type of unemployment is linked to seasonal work?

What type of unemployment is caused by a business cycle recession?

What type of unemployment occurs when workers' skills do not match the jobs that are available?

What type of unemployment occurs when people take time to find a job?

What is the term for a general increase in prices of goods and services?

What measures inflation of all goods?

What is CPI minus food and energy costs known as?

What is an index of the cost of all goods and services to a typical consumer called?

What index measures prices that producers receive for their finished goods?

What is the measure of consumer spending known as?

What does the acronym COLA stand for in economic terms?

What is a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters?

What is the government policy that attempts to manage the economy by controlling taxing and spending?

What is an increase in government purchases of goods and services, a decrease in net taxes, or some combination of the two for the purpose of increasing aggregate demand and expanding real output called?

What fiscal policy is used to decrease aggregate demand or supply, involving deliberate measures to decrease government expenditures, increase taxes, or both, and is appropriate during periods of inflation?

What policy creates incentives for the private sector to reduce pollutants, is difficult to value resources, and allows for some pollution, exemplified by tradable pollution credits?

What does M1 include in terms of monetary aggregates?

What does M2 include in terms of monetary aggregates?

What are certificates of deposit less than $100,000 known as?

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Macroeconomics Essentials: GDP, Unemployment, Inflation and Economic Indicators

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