Show:
The Business Cycle
Inflation
GDP
Unemployment
Miscellaneous
100

If the quantity of goods I can purchase with the same amount of money begins to diminish, I lose this. It's quite common during this phase of the business cycle. (*2 things needed.)

What is (1) purchasing power decreases; (2) inflation / expansion in the business cycle.

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

This results from workers when they stop looking / applying for a job. (*Three things needed).

What is a discouraged worker, not in the labor force, causes UR% to decrease?

100

The curve that shows "potential" GDPr output on a business cycle graph.

What is the GDPr trend line?

200

The name and percentage of the labor force who are actively seeking a job but not able to find one. Made up of only Frictional and Structural Unemployment.

What is the Natural Rate of Unemployment (NRU), between 4-6%?

200
When inflation is calculated into an economic statistic, the data is considered constant or this.
What is real?
200
GDP is often used to state this.
What is the quality of life in a country or an economy's strenght and size.
200
The type of unemployment that results from the nature of changes in business.
What is Structural Unemployment?
200
When GDP is presented in current dollars.
What is nominal GDP?
300

The period of decline that follows a peak.

What is contraction.

300
When prices rise workers often bargain for higher wages to stay ahead of inflation - this is the chicken and egg of economics.
What is the Wage-Price Spiral?
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
Inflation is considered a Macroeconomic topic because it affects this.
What is the economy as a whole?
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

Selecting a base year, assigning it a number of 100, and calculating index numbers for other years to determine how prices have changed is the method for creating this.

What is a price index?

500
Business Investment, the availability of money and credit, and expectations about economic future all influence this.
What is the business cycle?
500

The normal rate of inflation as a percentage.

What is 1-3%?

500
The national accounting method that measures total output by factors of production owned by a resident of the country being measured.
What is Gross NATIONAL Product?
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 equation to find Real GDP Per Capita.

What is total Real GDP divided by the Nation's Population?