Show:
GDP and more
Ups and Downs
Money, Money, Money
9 to 5
Potpourri
100
buying a movie ticket fits in this sector of GDP
What is consumer (C)?
100
systematic ups and downs of the real GDP
What is a business cycle?
100
decrease in the general level of prices
What is deflation?
100
the cotton gin would have caused this type of unemployment
What is technological unemployment?
100
mathematical model that uses algebraic equations to describe how the economy behaves
What is a econometric model?
200
formula for GDP
What is C + I + G + (X-M)?
200
state of the economy characterized by high unemployment, acute shortages, and excess production capacity
What is a depression?
200
series used to measure price changes for a representative sample of frequently used consumer items
What is the consumer price index (CPI)?
200
housing contractors not working in the winter
What is seasonal unemployment?
200
show the rate of unemployment and the rate of inflation
What is the misery index?
300
A U.S. business buys new computers for its office workers from a U.S. computer manufacturer -- belongs in this sector of GDP
What is investment (I)?
300
a period of recovery from a recession
What is expansion?
300
period of stagnant economic growth coupled with inflation
What is stagflation?
300
manufacturing jobs moving overseas is an example of this type of unemployment
What is structural unemployment?
300
year serving as point of comparison for other years in a price index or other statistical measure
What is a base year?
400
gross domestic product after adjustments for inflation is known as this
What is real GDP?
400
POINT in time when real GDP stops declining and begins to expand
What is a trough?
400
explanation that rising input costs, especially energy and organized labor, drive up the prices of products
What is cost-push inflation?
400
the situation of workers between jobs is this type of unemployment
What is frictional unemployment?
400
This economist favored monetary policy over fiscal policy, received the Nobel Prize for economics, and argued in favor of a flat tax rate
Who is Milton Friedman?
500
4 factors not included in GDP
What are intermediate products, secondhand sales, non market transactions, and underground economy?
500
4 factors that cause business cycles
What are changes in investment spending, innovations, monetary policy changes, and external shocks?
500
4 consequences of inflation
What are reduced purchasing power, distorted spending patterns, encourage speculation, distorted distribution of income?
500
1 cost and 1 benefit of outsourcing
What is cost is causing unemployment, benefit is reduction in the overall production cost (price of product)?
500
This economist was a Harvard professor of economics, advised 5 presidents, and favored public projects and government spending
Who is John Kenneth Galbraith?