2.1/2.2
Total current year spending on final domestic goods and services
N_______ ___
Nominal GDP
Total number of people in a country
P____________
Population
A market basket approach to measuring inflation for the average urban consumer.
C________ P_______ I_____
Consumer Price Index (CPI)
Causes costs, wealth redistribution, and uncertainty in the economy.
U_________ I________
Unexpected Inflation
This duo is known for their viral dance videos on TikTok.
C_____ & D_____ D__________
Charli and Dixie D'Amelio
Spending by all levels of government on new capital goods, services, and infrastructure
G_________ P________
Government Purchases
Number of people ages 16+
W______ A__ P________
Working Age Population
The average price of goods and services in the economy.
P____ L____
Price level
Shifts wealth from savers/lenders to borrowers due to reduced real interest rates.
W_____ R_____________
Wealth Redistribution
This duo is known for their YouTube channel where they react to videos and play games.
E_____ & G_________ D_________
Ethan and Grayson Dolan
Current year spending by households, firms, and government on foreign produced goods and services, directly sensitive to exchange rates
I______
Imports
People who have worked at least 1 hour in the last 2 weeks (includes part-time and full-time employment)
E__________
Employed
An increase in the price level or a decrease in the purchasing power of money.
I________
Inflation
The nominal interest rate minus the inflation rate, affecting borrowing and lending.
R___ I_______ R___
Real Interest Rate
This duo is known for their comedic sketches on social media.
T____ T_____ G_______
The Try Guys
Total current year factor income, exclusive of transfer payments or interest payments on debt
T____ N_______ I______
Total National Income
People not classified as employed but available for work and have submitted a job application in the last 4 weeks
U__________
Unemployed
The rate at which the price level is increasing.
Inflation Rate definition
The value of a currency for buying goods and services, impacted by inflation.
P_________ P_____
Purchasing Power
This duo is known for their podcast where they discuss current events and pop culture.
J___ R_____ & B______ S_________
Joe Rogan and Brendan Schaub
Consumption independent of changes in disposable income
A_________ C__________
Autonomous consumption
People available for work within the last 12 months not classified as employed or unemployed
M______ A_______ W________
Marginally Attached Worker
A decrease in the inflation rate.
D__________
Disinflation
Process of distributing scarce resources, affected by unexpected inflation.
R_______ A_________
Resource Allocation
This duo is known for their Netflix show where they travel the world trying different foods.
A________ B_______ & E______ R______
Anthony Bourdain and Eric Ripert
(Note: While Eric Ripert has continued the show, Anthony Bourdain's passing has made it a solo endeavor.)