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Macroeconomics

TermDefinition
Demand-Pull Inflation Inflation caused by high demand for a particular g/s
Retail Sales Total sales of goods by all retail stores.
Business Cycle Economic Up’s and Down’s. Measures GDP from year to year.
Cyclical Unemployment Job loss due to economic downturns.
Unemployment Rate The percentage of people looking for a job.
Inflation An increase in the price of goods and services.
Housing Starts An estimate of the number of housing units on which construction was started.
Cost-Push Inflation Inflation caused by high resource costs.
Structural Unemployment Job loss due to technology.
Gross Domestic Product per capita (GDP per capita) GDP divided by the population.
Recession A contraction (decrease) in GDP for more than 6 months.
Monetary Policy A strategy that the Federal Reserve uses to speed or slow the economy down.
Frictionally Unemployed Someone who quit, got fired, is looking for a job after school, or looking for a new job after moving.
Gross Domestic Product (GDP) The market value of all g/s produced in a country in a calendar year.
Labor Force Individuals over the age of 16 looking for work.
Inflation Rate The percentage of rise in general prices over time.
Created by: Mr. Schaefer
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