Week 6 Vocabulary Review

Slides:

Advertisements

Similar presentations

Unit 3 Macroeconomics.

Advertisements

ECONOMIC INDICATORS. Real GDP Growth Gross Domestic Product (GDP) measures the dollar value of all goods and services produced in the U.S. economy in.

SSEMA 1, 2.3. What is Macroeconomics? The study of the performance of our economy as a whole.

Chapter 5. Prices And Unemployment. Most macroeconomics discussions: 1. Macroeconomics problems. 2. Macroeconomic theories. 3. Macroeconomic policies.

Macroeconomics unit What you should know by now. You should be able to : Define the following: Gross Domestic Product (GDP) & the 4 components Unemployment.

GDP – GNP – NNP – NI – PI – DI

Measures associated with Real GDP. Real GDP trend: Long-term movement in Real GDP data. Several techniques.

Gross Domestic Product Total dollar value of goods and services produced in a country during one year.

Economic Indicators How do we know what direction the economy is going?

 What is inflation? --a general upward movement in price of goods and services in an economy  What is deflation? --a general downward movement in.

Begin By: Vinh Nguyen $100 $200 $300 $400 $500 Shifters of Demand The Law of Demand SupplyUnemploymentGDPShifters Of Supply.

Price Stability Economic Growth Full Employment. Economic Indicators.

CHAPTER 12 & 13 ECONOMIC PERFORMANCE. GROSS DOMESTIC PRODUCT TOTAL DOLLAR VALUE FINAL GOODS AND SERVICES NEW ONLY.

GDP Basics GDP: Picking Up, Slowing Down, Nose- Diving, or Turning the Corner UnemploymentInflation Business Cycle & Economic Indicators

Basic Macroeconomic.

How do we measure the economy’s growth? Understanding Macroeconomic indicators of prosperity.

Mr. Weiss Vocabulary Review – Test 4 – Sections 3 & 4 1. aggregate demand curve; 2. contractionary fiscal policy; 3. cyclical unemployment; 4. disposable.

Standard: b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation, and aggregate supply.

Lecture Four Macroeconomic Concerns: Unemployment, Inflation, and Growth.

Standard: b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation, and aggregate supply.

LECTURE 8 Economic Growth and Instability. Economic Growth Economic growth is defined as either: (a) An increase in real Gross Domestic Product (GDP)

Macro Overview Unit 4. What it is? ► Remember: Macroeconomics is the part of economics that looks at the behavior of the whole economy collectively, rather.

Economic Indicators. Gross Domestic Product GDP per Capita.

Chapter 14 Economic Stability.

The Business Cycle. The business cycle is the alternating periods of economic growth and contraction experienced by the economy. The business cycle is.

Macroeconomics SSEMA1 Students will explain and describe the means by which economic activity is measured by looking at gross domestic products, consumer.

GROWTH, PRODUCTIVITY, UNEMPLOYMENT AND INFLATION Chapter 19 1.

Economic Goals 1 economic freedom 2 economic efficiency 3 economic equity 4 economic security 5 economic stability 6 economic growth.

Macroeconomic Concepts. Macroeconomics looks at the big picture, the performance of our economy as a whole. It measures various symptoms of how healthy.

How do we measure the health of our economy? ECONOMIC INDICATORS.

 Bond  Budget deficit  Budget surplus  Business cycle  Capital project  Deflation  Depression  Gross domestic product  Retail sales  stock 

ECONOMIC INDICATORS. The Business Cycle What are economic indicators? Article: identify indicators.

Economics Measuring the Economy. Gross Domestic Product Gross Domestic Product is a measure of the size of the economy. It is the total value, in dollars,

Chapter 7. Economic growth is best defined as an increase in: either or.

The Last Word: Ch 12 Review and test – Friday FrontPage: NNIGN.

Basic Economic Concepts.  The most basic measure of production is called the Gross Domestic Product (GDP)  There are two ways to measure it: 1.The income.

Gross Domestic Product Definition of Gross Domestic Product Why are Changes in Real Gross Domestic Product Important? Explanations of GDP and its Components.

Measuring the Economy Economics Pt. 2, Lesson 4. Economic Fluctuations Economics can be complex because there are so many interrelated parts Economics.

LET’S TRY IT! IS IT COUNTED IN GDP? WHICH PART? 1. A farmer’s purchase of a new tractor. 2. A plumber’s purchase of a used truck. 3. The services of a.

Economics Unit 4: Macroeconomics Vocabulary Review.

Measuring the Health of the Economy…. Normal Economy Notes I. Three characteristics of a normal, healthy economy: A. Full employment Most people have.

Section III Quick Review Read and Review Section 3 all modules in your text. Major topics covered: Circular Flow Gross Domestic Product (formula, what.

Standard: b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation, and aggregate supply.

How do we measure the health of our economy?

Economics Flashcards # Unit 3 Macroeconomics

Economic Indicators for Informed Citizens

Economic Indicators.

The Indicators Game.

GDP, Unemployment, Inflation

GDP, CPI, Unemployment and a bunch of numbers

How do we measure the health of our economy?

How do we measure the health of our economy?

Business cycle and economic measures

Chapter 10: Measuring Aggregate Performance

1. Business Cycle Gross Domestic Product 2. Peak Consumer Price Index

Chapter 10: Measuring Aggregate Performance

Economics Measuring the Economy

How do economists measure a nation’s economic health?

4-Types of Unemployment & Full Employment Theory

Macroeconomic Questions

Measurement & Analysis

GDP and the Economy Vocabulary Coach Lott.

Measuring the Economy Economics Pt. 2, Lesson 4.

Unemployment & Inflation

Macroeconomics Economic Indicators.

How do we measure the health of our economy?

How do economists measure a nation’s economic health?

Twenty Questions Chapter 8 Review.

How do we measure the health of our economy?

Presentation transcript:

Week 6 Vocabulary Review

Rising prices with falling GDP and rising unemployment. Gross Domestic Product Final Good Unemployment Rate Frictional Unemployment Structural Unemployment Cyclical Unemployment Consumer Price Index Inflation Hyperinflation Stagflation

Market value of all final goods and services produce within a country in a year. Gross Domestic Product Final Good Unemployment Rate Frictional Unemployment Structural Unemployment Cyclical Unemployment Consumer Price Index Inflation Hyperinflation Stagflation

Unemployment because your job skills are no longer needed. Gross Domestic Product Final Good Unemployment Rate Frictional Unemployment Structural Unemployment Cyclical Unemployment Consumer Price Index Inflation Hyperinflation Stagflation

Rapid inflation. Gross Domestic Product Final Good Unemployment Rate Frictional Unemployment Structural Unemployment Cyclical Unemployment Consumer Price Index Inflation Hyperinflation Stagflation

Goods that are purchased by the last user and will not be resold or used to produce anything else. Gross Domestic Product Final Good Unemployment Rate Frictional Unemployment Structural Unemployment Cyclical Unemployment Consumer Price Index Inflation Hyperinflation Stagflation

People are out of work temporarily either due to seasonal work or changing jobs. Gross Domestic Product Final Good Unemployment Rate Frictional Unemployment Structural Unemployment Cyclical Unemployment Consumer Price Index Inflation Hyperinflation Stagflation

People are unemployed due to fluctuations in the business cycle Gross Domestic Product Final Good Unemployment Rate Frictional Unemployment Structural Unemployment Cyclical Unemployment Consumer Price Index Inflation Hyperinflation Stagflation

Percentage of labor force who is not working Gross Domestic Product Final Good Unemployment Rate Frictional Unemployment Structural Unemployment Cyclical Unemployment Consumer Price Index Inflation Hyperinflation Stagflation

Index of all goods and services produced in a country Gross Domestic Product Final Good Unemployment Rate Frictional Unemployment Structural Unemployment Cyclical Unemployment Consumer Price Index Inflation Hyperinflation Stagflation

Increase in the price levels Gross Domestic Product Final Good Unemployment Rate Frictional Unemployment Structural Unemployment Cyclical Unemployment Consumer Price Index Inflation Hyperinflation Stagflation