Labor Force Unemployment Rate is the % of THIS who are working or actively seeking employment

CONSUMER SPENDING C in GDP formula

Trough

RECESSION A 6 month economic contraction

One Piece of a Corporations Stock SHARE

GROSS DOMESTIC PRODUCT What does GDP stand for?

DOLLARS GDP is measured in _________

GDP Total value (in dollars) of all FINAL goods and services produced within a country within a given year

Company Stock Abbreviation? TICKER

LABOR FORCE = 100 POPULATION: 250 POPULATION 16-64: 200 EMPLOYED PERSONS: 90 UNEMPLOYED PERSONS: 10

UNEMPLOYMENT RATE = 10% POPULATION: 250 POPULATION 16-64: 200 EMPLOYED PERSONS: 90 UNEMPLOYED PERSONS: 10

LABOR FORCE PARTICIPATION RATE = 50% POPULATION: 250 POPULATION 16-64: 200 EMPLOYED PERSONS: 90 UNEMPLOYED PERSONS: 10

INTERMEDIATE GOODS Total value (in dollars) of all FINAL goods and services produced within a country within a given year What does this exclude?

17 (16.7) US GDP to nearest trillion

ADD EXPORTS AND SUBTRACT IMPORTS NX Add _________ Subtract _________

5.9% Current unemployment rate (national)

INVESTMENT AND INVENTORY “I” in GDP formula accounts for Business _________ and ___________

NOMINAL The GDP in actual dollar amount for the year of production. Starts with “N”

Real GDP

FRICTIONAL, STRUCTURAL, SEASONAL, CYCLICAL Four types of unemployment

Fixed Basket Inflation CPI

Variable Basket Inflation GDP DEFLATOR

CPI? CONSUMER PRICE INDEX

3 Major Stock Indices DOW JONES NASDAQ S&P 500

3 Major Stock Indices Which is tech heavy? DOW S&P 500 NASDAQ

US AND CHINA 1st and 2nd Highest GDP in the World

Expansion

A Collection of Investment Assets

Unintended Consequences of Business

Example of a negative externality of a fire station next to a residential neighborhood.

Count or Don’t Count in GDP pedicure

Count or Don’t Count in GDP McDonald’s secret Big Mac sauce

Beginning of Recession (Point)

Count or Don’t Count in GDP A new milkshake machine at the Burgery

Count or Don’t Count in GDP A Japanese car sold in the US

Count or Don’t Count in GDP A Japanese car sold in Japan

Count or Don’t Count in GDP An American car sold in Japan

Count or Don’t Count in GDP My salary

Count or Don’t Count in GDP Sale of $1237 of Caterpillar stock

Count or Don’t Count in GDP An antique vase

GDP formula C+I+G+NX