1. Macro Review Game!

2. Answer the following… Extreme inflation is called…..
Is a retired person who no longer wants to work unemployed? Why or why not?
Someone who works “under the table” meaning they don’t report their earnings is said to participate in what kind of economy?

3. More!
What type of unemployment: a person who can’t find work since they have little job skills
Give one indication of a low standard of living (or how do you know that a particular country has a low standard of living?)

4. When prices rise due to a rise in the price of resources this is called…
Name one negative effect of inflation
If prices increase, but your salary remains the same, what happens to your purchasing power?

5. Which portion of the US GDP is the largest?
A very long, severe economic decline is called

6. List one thing that cannot be included in the US GDP for this year
Which country has the largest GDP per capita?