Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


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. Your email address is only used to allow you to reset your password. See 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.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
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

Wills econ

Term Sheet 7.1-7.3

QuestionAnswer
National Income Accounting the measurement of aggregate economic activity, particularly national income and its components
Gross Domestic Product the total market value of all final goods and services produced within a nations borders in a given time period
Intermediate Goods goods or services purchased for use as input in the production of final goods or services
Durable Goods goods not for immediate consumption and able to be kept for a period of time.
non-durable goods are products that are consumed or are only useable for a short period of time
nominal GDP the value of final output produced in a given period, measured in the prices of that period (current prices)
Real GDP the value of final output produced in a given period
Gross National Product the total value of goods produced and services provided by a country during one year, equal to the gross domestic product plus the net income from foreign investments.
Depreciation calculation of the measure of obsolescence and/or wear and tear of an asset when used to generate economic benefits. It is the systematic allocation of the depreciable amount of an asset over it's useful life.
Price Level *a measure of the overall level of prices at a particular point in time as measured by a price index such as CPI
Aggregate Supply the total supply of goods and services available to a particular market from producers.
Aggregate Demand the total demand for goods and services within a particular market.
Business Cycle a cycle or series of cycles of economic expansion and contraction
Expansion An economic expansion is an increase in the level of economic activity, and of the goods and services available. It is a period of economic growth as measured by a rise in real GDP
Peak A peak is the highest point between the end of an economic expansion and the start of a contraction in a business cycle.
Contraction More specifically, contraction occurs after the business cycle peaks, but before it becomes a trough.
Trough a low turning point or a local minimum of a business cycle.
Recession a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
Depression sustained, long-term downturn in economic activity in one or more economies.
Stagflation persistent high inflation combined with high unemployment and stagnant demand in a country's economy
Real GDP per Capita a measure of the total output of a country that takes into account GDP and divides it by the number of people in the country. difference between real gdp/nominal.
Created by: deleted user
Popular Economics sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards