Economic Indicators Exam with Complete Solutions…Grade A+

Economic Indicators Exam with Complete Solutions…Grade A+ Gross Domestic Product️️ The dollar amount of all final goods and services produced within a country's borders in a year. final goods️️ goods and services that have been purchased for final use and not for resale or further processing or manufacturing intermediate goods️️ materials or resources that will be transformed into another form or used for another product nominal Gross Domestic Product️️ The price of all goods and services produced by domestic economy for a year at current market prices. real Gross Domestic Product️️ The total value of all final goods and services produced in a given time period such as a year or a quarter, adjusted for inflation GDP per capita️️ the total value of goods and services produced in a country in a year, divided by population transfer payments️️ Payments made by the government to individuals specifically for the purpose of redistributing income. frictional unemployment️️ state of being out of work because the person is in between jobs structural unemployment️️ unemployment that occurs when workers' skills do not match the jobs that are available