Econ Units 6 & 7

In the big picture, increasing productivity has increased standards of living for humanity for much of the last _______

What can make some countries more productive than others?

GDP per capita is the GDP of a country divided by its _________________________.

__________________________ represents output per person, and a country with a high number for this is a RICH country.

GDP stands for

Real prices have been adjusted for inflation whereas nominal prices have not.

___________________worker's education, knowledge, and skills to product things.

A country's ability to produce more output per worker per hour.

_______ is the amount of physical goods and services that can be bought by a give amount of money.

All of the following are causes of inflation EXCEPT

___________________ is the market value of all goods and services newly produced in a country in one year.

A high Human Development Index (HDI) means less poverty, infant mortality, disease, and measures a country's ______.

The _______ shows how prices have changed between different yrs and is the most commonly used measure of inflation.

A ___________ is a market phenomenon characterized by surges in asset prices to a level significantly avove its value

Economists argue that the main reason some are rich is because of their _____________.

The UN _________ measures life expectancy, education, quality of life, and ranks countries acording to this HDI.

Government economists use ________ to account for technological progress and keep years comparable.

____________ is trading a financial instrument involving high risk in expectation of significant returns.

____________ is the sum total of knowledge and information that society has acquired regarding the use of resources.

What computer technology change led to the US productivity boom in the mid 1990's?