Macroeconomic Concepts: GDP Measurement, Employment Metrics and Aggregate Demand

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Economics - Macroeconomics

georgepetenjk Created by 10 mon ago

Cards in this deck(35)

What is the term for everything that a country produces within a year?

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What term describes physical items produced and actions performed, such as Uber drivers and teachers?

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What is GDP measured in constant dollars, accounting for inflation, called?

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What is the term for GDP measured using the value of the current dollar?

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What is the economic term for when real GDP is decreasing?

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What is the term for the number of unemployed people actively looking for a job over the labor force?

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What measures the number of people employed and those looking for work over the population aged 16 or older?

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What is the economic term for when prices are going up?

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What is the term for when prices are going down?

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What is the term for how much you earn by saving money or pay when borrowing?

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What term describes the total demand of everyone in an economy?

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What happens when a business produces more than it sells?

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What occurs when a business produces less than it sells?

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What is the term for spending by households on goods and services?

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What is the term for spending by businesses on new equipment, construction, and inventory?

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What is the term for spending by the government on goods and services?

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What is the term for money spent by people from other countries on things produced here?

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What is the term for money spent by people here on stuff produced in other countries?

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What is the term for the amount of extra money a person has to spend after taxes?

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What term describes how people's future jobs and income influence their consumption behavior?

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What is the term for how much more you buy when your income increases?

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What is the term for how much more you save when your income changes?

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What is the term for when the government changes spending to directly alter aggregate demand?

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What is the term for when the government changes taxes to indirectly alter aggregate demand?

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What is the policy called that aims to increase aggregate demand?

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What is the policy called when the government increases spending to counteract a fall in aggregate demand?

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What is the term for when taxes are less than government spending and transfers?

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What is the term for when taxes are greater than government spending and transfers?

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What is the term for money lent to the government, repaid with interest?

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What is the term for large disparities in how much money people have?

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What is the term for large disparities in how much people are earning?

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What is the term for how much something gains in value?

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What is the total value of financial assets that can be easily used to pay for goods and services?

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What is the term for reinvesting money to gain interest on interest?

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What is the banking system called where banks keep only a fraction of deposits on hand?

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