Review for your vocabulary test
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| GDP expressed in constant or unchanging prices | Real GDP
🗑
|
||||
| Unemployment that occurs when workers' skills do not match the jobs available | structural
🗑
|
||||
| Period of economic growth, increase in GDP | expansion
🗑
|
||||
| Decline in GDP combined with a rise in prices | stagflation
🗑
|
||||
| sustained drop in the price level | deflation
🗑
|
||||
| percentage rate of change in price level over time | inflation rate
🗑
|
||||
| Unemployment that occurs because of weather, harvest schedules, or vacations | seasonal
🗑
|
||||
| GDP measured in current prices | nominal GDP
🗑
|
||||
| Unemployment that occurs during economic downturns, such as a recession | cyclical
🗑
|
||||
| theory that inflation is caused by producers raising their prices to meet increased costs | cost push
🗑
|
||||
| general increase in prices | inflation
🗑
|
||||
| theory that too much money in the economy causes inflation | quantity theory
🗑
|
||||
| goods that last for a relatively long time | durable
🗑
|
||||
| goods used in the production of final goods | intermediate goods
🗑
|
||||
| period of economic decline marked by falling GDP | contraction
🗑
|
||||
| A price index determined by measuring the price of a market basket of a typical urban consumer | consumer price index
🗑
|
||||
| measurement that shows how the average price of a group of goods changes over time | price index
🗑
|
||||
| representative collection of goods and services | market basket
🗑
|
||||
| goods that last a short period of time | non durable
🗑
|
||||
| Unemployment that occurs when people take time to find another job or change jobs | frictional
🗑
|
||||
| inflation that is out of control | hyperinflation
🗑
|
||||
| Theory that inflation occurs when demand for goods exceeds existing supply | demand pull
🗑
|
||||
| income level below which income is insufficient to support a family | poverty threshold
🗑
|
||||
| the dollar value of all final goods produced within a country in a given year | gross domestic product
🗑
|
||||
| the total amount of goods and services in the economy available at all possible prices | aggregate supply
🗑
|
||||
| the amount of goods in the economy that will be purchased at all possible price levels | aggregate demand
🗑
|
||||
| how the nation's total income is distributed among its population | income distribution
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
lbeale
Popular History sets