Percentage of total workforce who are unemployed and are looking for a paid job
What is the unemployment rate
100
What term means a general increase in prices and fall in the purchasing value of money?
What is inflation
100
Qualified workers who are not seeking employment are not counted in the unemployment rate...
True of False
What is True.
Only those looking for employment and unable to find work are considered Unemployed.
100
Goods that are purchased from other countries and brought into your country
What is imports
200
The total market value of all final goods and services produced in a country in a given year divided by the total population
What is GDP Per Capita
200
The 'normal' unemployment rate in a country (between _____ and _____)
What is 4%-6%
200
The average rate of inflation is approximately ____%
What is 2%
200
Inflation that fluctuates heavily is considered a good...
True or False
What is False
200
Goods that are purchased from your country and moved internationally
What are exports
300
Large expenditures such as military and healthcare come from this GDP component
What is Government Spending
300
During an economics recession, the unemployment rate will _____________.
What is rise/go up
300
What is the name of the measurement that represents the GDP adjusted for inflation?
What is Real GDP
300
Used and illegal goods are a large part of GDP...
True or false
What is False. Used and illegal goods are not counted as part of the GDP.
300
The part of economics concerned with single factors and the effects of individual decisions
What is Microeconomics
400
Spending money in order to help businesses grow; ultimately with the prospect of making higher returns in the future
What is investment
400
The U.S. Unemployment rate was 7.8% when Barack Obama took office in January 2009. What is the current unemployment rate of the U.S. rounded to the nearest whole number.
What is 5%.
400
This list measures changes in the price level of a market basket of consumer goods and services purchased by households. Its initials are the 'CPI'?
What is Consumer Price Index
400
The term for an economy that has seen two consecutive quarters of negative economic growth
What is a recession
400
Spending on domestically produced goods by foreigners minus spending on foreign goods by domestic residents
What is Net Exports
500
The action of people buying goods. One of the main aspects that fuels the U.S. GDP.
What is consumption
500
Which is higher in comparison to the international community; the GDP of the U.S. or the GDP Per Capita of the U.S.
What is GDP
500
Why can't the government just print more money?
What is the value of the currency drops significantly
500
The part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity
What is Macroeconomics
500
The ability to produce a good at a lower opportunity cost than another producer
Hint: C__________ A__________