Terms : Hide Images
| 509099503 | inflation | the rate at which prices are rising | 0 | |
| 509099504 | unemployment | percent of the labor force that is out of work | 1 | |
| 509099505 | macroeconomics | the study of economy-wide phenomena | 2 | |
| 509099506 | microeconomics | the study of how households and firms make decisions and how they interact in markets | 3 | |
| 509099507 | total income | wages, rent, and profit | 4 | |
| 509099508 | total expenditure | consumption, investment, government purchases, and net exports | 5 | |
| 509099509 | gross domestic product | market value of all final goods and services produced within a country in a given period of time | 6 | |
| 509099510 | intermediate production | goods that are produced by one firm to be further processed by another firm | 7 | |
| 509099511 | final production | finished products sold to the end user | 8 | |
| 509099512 | gross national product | The total value of goods and services, including income received from abroad, produced by the residents of a country within a specific time period, usually one year. | 9 | |
| 509099513 | depreciation | value of worn out equipment and structures | 10 | |
| 509099514 | consumption | spending by households on goods and services, excluding new housing | 11 | |
| 509099515 | investment | spending on capital equipment, inventories, and structures, including household purchases of new housing | 12 | |
| 509099516 | government purchases | spending on goods and services by all levels of government | 13 | |
| 509099517 | net exports | spending on domestically produced goods by foreigners (exports) minus spending on foreign goods by domestic residents (imports) | 14 | |
| 509099518 | transfer payment | expenditures by government for which they receive no goods or services | 15 | |
| 509099519 | real GDP | the production of goods and services valued at base year prices | 16 | |
| 509099520 | nominal GDP | the production of goods and services valued at current year prices | 17 | |
| 509099521 | base year | the year from which prices are used to measure real GDP | 18 | |
| 509099522 | GDP deflator | a measure of the price level calculated as the ratio of nominal GDP to real GDP, then multiplied by 100 | 19 | |
| 509099523 | recession | period of decline in GDP | 20 |
