Business Cycle
Inflation
GDP
Unemployment
Miscellaneous
100

The Y and X axes on a business cycle.

What are GDPr (dollar amount or growth) on the Y & Time on the X. 

100
This market basket approach helps determine the inflation rate by comparing past year prices with current prices.
What is the Consumer Price Index or CPI?
100
The method of calculating GDP.
What is C + I + G + NX or Consumption + Investment in Capital + Government Spending + Net Exports.
100
The type of unemployment that results from new workers looking for their first job.
What is Frictional Unemployment?
100

Multiplier Effect! The spending multiplier if the MPC is 0.8.

What is 5?

200

Potential GDPr ouput.

What is the GDPr Trend Line.

200

GDP adjusted for inflation, using a base year price (constant) across time.

What is Real GDP?

200

Real GDP is often used to state these (2 things).

What is the (1) standard of living in a country and (2) economic growth (adjusted for inflation).

200

The type of unemployment that results from workers having to learn skills.

What is Structural Unemployment?

200
When GDP is presented in current dollars.
What is nominal GDP?
300
The period of growth that follows a trough.
What is expansion.
300

This specific cause of inflation is due to increases in resource prices.

What is Cost-Push Inflation?

300
Pollution, leisure, and drug dealing.
What are economic transactions not included in GDP?
300
The type of unemployment that results from work only being needed during certain months of the year.
What is seasonal unemployment?
300
The market basket approach used to determine producer price changes.
What is PPI or Producer Price Index?
400
The highpoint of expansion, that preceeds contraction.
What is peak?
400

The equation to find the GDP inflation index (GDPd).

What is nominal GDP divided by real GDP times 100.

400
To ensure that goods are not counted twice, GDP is calculated using only these.
What are final goods or final ouput?
400
The unemployment we have not yet had a question about.
What is cyclical unemployment.
400

The equation to find a rate (%) change.

Yr2___ - Yr1___ / Yr1___ x 100

500

The area below potential GDPr output and above a trough.

What is cyclical unemployment.

500

GDPn is $100. GDPr is 80. Calculate the inflation rate if compared to a base year index of 100.

Math

500

Another name for financial transactions.

What are non-production transactions (*not included in GDP).

500

When an individual with a PhD. in Botany works at a local flower shop they are an example of this -

What is under-employment?

500

The unemployment rate at full employment output.

What is the NRU (4-6%).

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