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Macroeconomic Indicators: GDP Components, Unemployment Measurement, and Demand/Supply

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Economics - Macroeconomics

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georgepetenjk Created by 10 mon ago

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Cards in this deck(52)
What is the term for the market value of all final goods and services produced within a nation in a year?
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Which of the following are the main components of GDP?
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Which items are not included in GDP calculations?
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What term describes people who are actively looking for work but are not currently employed?
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What types of unemployment occur when individuals are voluntarily searching for jobs or when their skills are no longer in demand?
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What is the term for the sum of employed and unemployed individuals in an economy?
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How is the labor force participation rate calculated?
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How do you calculate the unemployment rate?
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What is the term for the value of all final goods and services at current prices of that year?
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What is the term for the value of all final goods and services using the prices from a base year?
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How is Real GDP calculated using nominal GDP and price index?
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What are the components of aggregate demand and supply in the short and long run?
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Why is the aggregate demand curve downward sloping?
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What causes shifts in the aggregate demand curve?
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What are the determinants or shifters of long-run aggregate supply (LRAS)?
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How does expansionary fiscal policy impact a recessionary gap?
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How does contractionary fiscal policy impact an inflationary gap?
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What is money in economic terms?
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What is monetary policy?
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What are the three functions of money?
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What monetary policy should be used to correct a recessionary gap?
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What monetary policy should be used to correct an inflationary gap?
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What is the study of how nations and global organizations interact economically?
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What is comparative advantage?
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What is absolute advantage?
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What are tariffs?
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What are embargos?
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What are quotas?
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What are export subsidies?
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What are some other government actions on imports and exports?
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What is the introductory concept when entering microeconomics?
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How is opportunity cost calculated?
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What is the term for all natural resources used to produce goods and services?
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What is labor in economic terms?
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What does capital refer to in economics?
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What is entrepreneurship in economic terms?
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What does the law of demand state?
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What does the law of supply state?
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What factors can cause supply shifts?
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What factors can cause demand shifts?
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How is price elasticity of demand calculated?
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What is a price ceiling?
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What is a price floor?
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What is total cost in economic terms?
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How is average cost calculated?
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How is marginal revenue calculated?
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What is marginal profit?
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What is the profit-maximizing rule in economics?
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What is the Rule of 72 in finance?
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What is a flat tax?
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What is a progressive tax?
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What is a regressive tax rate?
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