Terms : Hide Images
| 6018824129 | Business cycle | The alteration between economic downturns and economic upturns | 0 | |
| 6018824130 | Consumer price index | Measures the cost of the market basket of a typical urban American family | 1 | |
| 6018824131 | Cost-push inflation | Inflation that is caused by a significant increase in the price of an input with economy-wide importance | 2 | |
| 6018824132 | Cyclical unemployment | The deviation of the actual rate of unemployment from the natural rate | 3 | |
| 6018824133 | Deflation | A falling overall price level | 4 | |
| 6018824134 | Demand-pull inflation | Inflation that is caused by an increase in aggregate demand | 5 | |
| 6018824135 | Exports | Goods and services sold to other countries | 6 | |
| 6018824136 | Frictional unemployment | Unemployment due to the time workers spend in job search | 7 | |
| 6018824137 | GDP deflator | 100 times the ratio of nominal GDP and real GDP in that year | 8 | |
| 6018824138 | Gross domestic product | The total value of all final goods and services produced in the economy during a given year | 9 | |
| 6018824139 | Inflation | A rising overall price level | 10 | |
| 6018824140 | Inflationary spiral | A continuous rise in prices that is sustained by the tendency of wage increases and cost increases to react on each other | 11 | |
| 6018824141 | Natural rate of unemployment | An unemployment rate that arises from the effects of frictional plus structural unemployment | 12 | |
| 6018824142 | Net exports | The difference between the value of exports and the value of imports | 13 | |
| 6018824143 | Recession | A period of economic downturn when output and unemployment are falling | 14 | |
| 6018824144 | Structural unemployment | Unemployment that results when workers lack the skills required for the available jobs, or there are more people seeking jobs in a labor market than there are jobs available at the current wage rate | 15 | |
| 6018824146 | Expenditure approach | An approach to calculating GDP by adding up aggregate spending on domestically produced final goods and services in the economy--the sum of consumer spending, investment spending, government purchases of goods and services, and exports minus imports | 16 | |
| 6018824147 | Discouraged workers | Nonworking people who are capable of working but have given up looking for a job due to the state of the job market | 17 | |
| 6018824148 | Factor (resource) market | Where resources, especially capital and labor, are bought and sold | 18 | |
| 6018824149 | Final goods | Goods and services sold to the final, or end, user | 19 | |
| 6018824150 | Income approach | An approach to calculating GDP by adding up the total factor income earned by households from firms in the economy, including rent, wages, interest, and profit | 20 | |
| 6018824151 | Imports | Goods and services purchased from other countries | 21 | |
| 6018824152 | Intermediate goods | Goods and services bought from one firm by another firm to be used as inputs into the production of final goods and services | 22 | |
| 6018824153 | Labor force | The number of people who are either actively employed for pay or unemployed and actively looking for work; the sum of employment and unemployment | 23 | |
| 6018824154 | Market basket | A hypothetical set of consumer purchases of goods and services | 24 | |
| 6018824155 | National income | Keep track of the flows of money among different sectors of the economy | 25 | |
| 6018824156 | Nominal GDP | The total value of all final goods and services produced in the economy during a given year, calculated with the prices current in the year in which the output is produced | 26 | |
| 6018824157 | Nominal interest rate | The interest rate actually paid for a loan | 27 | |
| 6018824158 | Okun's law | Relationship that says that a 1% increase in unemployment causes a 2% fall in GDP | 28 | |
| 6018824159 | Peak | A point in the business cycle where the real GDP has reached a temporary maximum | 29 | |
| 6018824160 | Product market | Where goods and services are bought and sold | 30 | |
| 6018824161 | Real GDP | The total value of all final goods and services produced in the economy during a given year, calculated using the prices of a selected base year in order to remove the effects of price changes | 31 | |
| 6018824162 | Real income | Income divided by the price level to adjust for the effects of inflation or deflation | 32 | |
| 6018824163 | Real interest rate | The nominal interest rate minus the rate of inflation | 33 | |
| 6018824164 | Real wage | The wage rate divided by the price level to adjust for the effects of inflation or deflation | 34 | |
| 6018824165 | Recovery | Also known as the expansion period of a business cycle, output and employment rises and increases GDP | 35 | |
| 6018824166 | Trough | Point in the business cycle where low output and high unemployment have reached their bottom | 36 | |
| 6018824167 | Underemployed | Workers who would like to work more hours or who are overqualified for their jobs | 37 |
