Econ4 - Economic Indicators

In the formula C+G+I+NX, what does the G stand for?

What are used to measure the economy and guide economic policy?

In the business cycle, the economy would experience low unemployment at the _____.

A _____ is when workers get a pay raise equal to the rate of inflation.

All of the following are included in gross domestic product EXCEPT

When prices increase at a slow rate; <2% inflation.

The degree of wealth and material comfort available to a person or community is called _____.

Which component of the GDP formula can be a negative number?

What describes the rise and fall in production output of goods and services in an economy?

_____ is the dollar value of all final goods and services produced in a country in a year.

Inflation caused because the price of raw materials or wages increases.

Unemployment caused by automation and machines replacing workers.

During inflation, people with previous loans benefit because they repay loans with _____ dollars.

Real GDP is expressed in constant dollars and is adjusted for _____.

Unemployment caused by being temporarily unemployed or between jobs.

The total supply of goods and services available to a particular market from producers.

Inflation caused by consumers purchasing at a faster rate than production.

What is the average money per person in a country known as?

_____ is the study of the economy on a large scale.

Products produced in other countries and sold to the United States.

Which type of spending represents the largest sector of the economy?

In the formula C+G+I+NX, what does the C stand for?

What is used as a indicator for the standard of living of a country?

We know that we are in a recession when GDP decrease for _____ quarter(s).

The total demand for goods and services within a particular market.

Products produced in the US and sold to other countries.

The loss of value in money over time or a rise in the general level of prices over time.

Unemployment caused by a recession.

What typically happens to GDP during the expansion period of the business cycle?

All of the following are macroeconomics goals EXCEPT

The percentage of people in the labor force who want a job but aren't working.

When GDP declines for six months.

The cost to borrow money.

The payment for entrepreneurship in the factor (resource) market.

What uses a market basket of goods and services to measure inflation?

Net Exports =

Unemployment due to non-transferable skills.

In the formula C+G+I+NX, what does the I stand for?

The number of people 16 and over who are willing and able to work.

The payment for labor in the factor market.