Save
Upgrade to remove ads
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

Macroeconomics U2

Measurements of Economic Performance

QuestionAnswer
GDP (nominal vs real) Nominal GDP- measured in current prices; no inflation yr to yr Real GDP- adjusted for inflation; best measure for economic growth; deflates nominal GDP by adjusting for inflation in terms of a base yr
Expenditure Approach to find GDP by C + I + G + Xn
Intermediate Goods creats final product but not counted in GDP; ex. pizza final good tomatoe cheese dough all intermediate goods
Final Goods the final good that is sold in market; ex pizza, cars
Price Index price of market basket in a yr; shows changes in prices
Cyclical Unemployment Results from recessions; demand decreases= service demand lowers= workers fired
Frictional Unemployment Workers are temporary without a job or in between jobs; qualified but not working; ex. recent graduates and seasonal workers like OC Fair workers
Structural Unemployment Workers’ skills are obsolete; permanent loss of these jobs is “creative destruction”; ex. Blacksmiths and technological unemployment like auto assemblers who are replaced by machines
CPI measures inflation; CPI= (price of market basket in a particular yr)/ (price of market basket in base yr) x 100
Nominal vs Real Income nominal income- income unadjusted for the effects of inflation or deflation real income- income expressed in terms of the goods or services it can purchase.
Real vs Nomianl Interest Rate real interest rate- interest rate adjusted for inflation, computed by deducting the expected rate of inflation from the nominal interest rate nominal interest rate- interest rate unadjusted for inflation
Inflation rise in prices of goods; reduces "purchasing power" of dollars
Natural Rate of Unemployment rate = unemployed / labor force x 100; there will be full employment if there is no cyclical unemployment
Created by: 100000723325266
Popular American Government 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