Chapter 4 - Economic Measurements Flashcards

1

Which of the following does not improve labor productivity:

2

Deflation is a general decrease in the price of goods and services.

3

Inflation occurs when:

4

The number of items produced per worker is referred to as:

5

Inflation is always a bad thing.

6

The total dollar value of goods and services produced in our country in 1 year is called:

7

A steady increase in the production of goods and services in an economic system is called:

8

The point in the business cycle where growth levels out and becomes somewhat stagnant is called

9

Prosperity is characterized

10

A decrease in GDP implies that:

Chapter 4 - Economic Measurements