Inflation, GDP, Business Cycle, Unemployment
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Inflation | show 🗑
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| show | in a growing economy, increasing demand can pull prices up
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| show | when cost of production rises, prices tend to rise
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| show | self-perpetuating spiral of wages and prices increasing
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| show | an revenue that is set at a particular figure and does not change or rise with the rate of inflation
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| show | period of low or no economic growth combined with inflation
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| Deflation | show 🗑
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| Unemployed | show 🗑
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| Unemployment Rate | show 🗑
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| Frictional Unemployment | show 🗑
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| Structural Unemployment | show 🗑
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| Cyclical Unemployment | show 🗑
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| Seasonal Unemployment | show 🗑
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| show | lowest possible rate with economy growing efficiently
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| Business Cycle | show 🗑
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| show | the dollar amount of all final goods and services produced within a country’s borders in a given year
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| show | period of decline in the economy as measured by changes in real GDP
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| Expansion | show 🗑
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| Peak | show 🗑
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| show | turn around point where real GDP stops going down
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Created by:
ddenson80
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