#1
Country #1 - GDP Growth 1.75% w/ 1% Inflation
Country #2 - GDP Growth 3% w/ 3% Inflation
Which country had the highest Real GDP growth?
Country #1
Which economic calculation figures the price increase of products compared to specific year?
CPI
Which indicator will give insight what is going to happen in the future?
Leading Indicator
Which part of the business cycle does inflation decrease, GDP decrease and unemployment increases?
Contraction
Country #1 - GDP Growth 1.75% w/ 1% Inflation
Country #2 - GDP Growth 3% w/ 3% Inflation
Which country had the highest Nominal GDP growth?
Country #2
Which economic calculation determines the market value of the final products provided?
GDP
A car manufactured in the USA by a Korean company would do what to GDP?
Increase GDP
Inflation caused by the increase cost of production is called?
Cost Push Inflation
Country #1 - 6.0% unemployment rate - Natural unemployment rate 5%
Country #2 - 4.5% unemployment rate - Natural unemployment rate 2%
Which country has a better unemployment rate?
Country #1
GDP = $1 billion
Population = $1 million
What is the Per Capita GDP?
$1000
People out of work because of they are changing jobs is what type of unemployment?
Frictional Unemployment
GDP - $100B
Inflation - 1%
What is Real GDP?
$99B
Country A has a nominal wage increase of 4%. Country A has a 2.5% inflation rate. What is Country A's real wage?
1.5%
GDP - $100B
Inflation - 1%
What is nominal GDP?
$100B
Inflation caused by an increase demand for products is called what?
Demand Pull Inflation
Consumer Spending - $10T
Business Investment - $7T
Government purchases - $3T
Imported goods - $1T
Exported goods - $1T
What is this countries GDP?
$20T