Measure of the price level, calculated by dividing nominal GDP by real GDP and
multiplying by 100
Give this one a try later!
GDP deflator (P)
Labor force
Give this one a try later!
# employed people + # unemployed people in economy
,Period of a business cycle during which total production and total employment are
decreasing
Give this one a try later!
Recession
Net exports (NX)
Give this one a try later!
Exports - imports
Ability of an economy to produce increasing quantities of goods and services
Give this one a try later!
Economic growth
% of the working-age population in the labor force
Give this one a try later!
Labor-force participation rate
, Labor force participation rate
Give this one a try later!
# labor force / # working-age population x 100
Average of the prices received by producers of goods and services at all stages of
the production process
Give this one a try later!
Producer price index (PPI)
Ways to calculate changed in long-run growth rate for a country
Give this one a try later!
- % change in Y between two years
- Take average of several years growth rates
- Use rule of 70
Normal rate of unemployment, consisting of frictional unemployment and structural
unemployment
Give this one a try later!
multiplying by 100
Give this one a try later!
GDP deflator (P)
Labor force
Give this one a try later!
# employed people + # unemployed people in economy
,Period of a business cycle during which total production and total employment are
decreasing
Give this one a try later!
Recession
Net exports (NX)
Give this one a try later!
Exports - imports
Ability of an economy to produce increasing quantities of goods and services
Give this one a try later!
Economic growth
% of the working-age population in the labor force
Give this one a try later!
Labor-force participation rate
, Labor force participation rate
Give this one a try later!
# labor force / # working-age population x 100
Average of the prices received by producers of goods and services at all stages of
the production process
Give this one a try later!
Producer price index (PPI)
Ways to calculate changed in long-run growth rate for a country
Give this one a try later!
- % change in Y between two years
- Take average of several years growth rates
- Use rule of 70
Normal rate of unemployment, consisting of frictional unemployment and structural
unemployment
Give this one a try later!
