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GDP
Labor Activities & Consumer Spending
The Business Cycle
Consumer Prices
Interest Rates
100
This is not included In GDP.
What is work you do for yourself?
100
This is the portion of people in the labor force who are not working.
What is the unemployment rate?
100
A long period of high unemployment and business failures.
What is a depression?
100
An increase in the general level of prices.
What is inflation?
100
Interest rates represent this.
What is the cost of money?
200
GDP stands for this.
What is Gross Domestic Product?
200
In the US, the labor force consists of all people above age ____ who are actively working or seeking work.
What is 16?
200
The peak of the business cycle.
What is prosperity?
200
This is the main cause of inflation.
What is when demand increases?
200
People with poor credit ratings pay ______________ interest rates than those with good credit.
What is higher?
300
GDP is the total value of all _____________ goods and services produced in a country in one year.
What is final?
300
This is the production output in relation to a unit of input, such as a worker.
What is productivity?
300
Unemployment begins to decrease and demand increases.
What is recovery?
300
A decrease in the general level of prices?
What is deflation?
300
This is the rate individuals pay to borrow for the purchase of a new home.
What is mortgage rate?
400
What is the formula for calculating GDP per Capita?
What is GDP / Total population?
400
Personal income includes these three funds.
What are 1. wages and salaries 2. investment income 3. government payments
400
A period in which demand begins to decrease, unemployment begins to rise, and businesses lower production.
What is recession?
400
A number that compares prices in one year with prices in some earlier base year.
What is price index?
400
How often do interest rates change?
What is every day?
500
These are the four components of GDP.
What is: 1. Consumer spending 2. Business spending 3. Government spending 4. Exports - imports
500
This is the sales of durable and non-durable goods bought by consumers.
What is retail sales?
500
Business cycles are the recurring ups and downs of this measurement.
What is GDP?
500
Mild inflation of what percent can stimulate economic growth?
What is 2-3%?
500
This rate is what financial institutions are charged to borrow money from the Federal Reserve Banks.
What is the discount rate?