Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Don't know
Know
remaining cards
Save
0:01
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards
share
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

VOCAB Chapter 23

Measuring a Nation's Income

TermDefinition
Inflation The rate at which prices are rising.
Unemployment Percent of the labor force that is out of work.
Macroeconomics The study of economy-wide phenomena.
Microeconomics The study of how households and firms make decisions and how they interact in markets.
Total income Wages, rent, and profit.
Total expenditure Consumption, investment, government purchases, and net exports.
Gross domestic product Market value of all final goods and services produced within a country in a given period of time.
Intermediate production Goods that are produced by one firm to be further processed by another firm.
Final production Finished products sold to the end user.
Gross national product Market value of all final goods and services produced by a nation's residents in a given period of time.
Depreciation Value of worn-out equipment and structures.
Consumption Spending by households on goods and services, excluding new housing.
Investment Spending on capital equipment, inventories, and structures, including household purchases of new housing.
Government purchases Spending on goods and services by all levels of government.
Net exports Spending on domestically produced goods by foreigners (exports) minus spending on foreign goods by domestic residents (imports).
Transfer payment Expenditures by government for which they receive no goods or services.
Real GDP The production of goods and services valued at base year prices.
Nominal GDP The production of goods and services valued at current year prices.
Base year The year from which prices are used to measure real GDP.
GDP deflator A measure of the price level calculated as the ratio of nominal GDP to real GDP then multiplied by 100.
Recession Period of decline in GDP.
Created by: jessjeanarnold