Lesson 37 Flashcards
1
Q
Microeconomics
A
Focus on individual markets
2
Q
Macroeconomics
A
Look at the economy as a whole
3
Q
4 macro objectives of the government?
A
Full employment
Price stability (inflation)
Balance of payments
Economic growth
4
Q
Balance of payments
A
balancing exports and imports
5
Q
Employed
A
People working
for firms or charities
or self employed
6
Q
You are employed even if it is …
A
voluntary work
7
Q
Economically inactive
A
People who are working age
but not looking for work
for a variety of reasons
8
Q
Discouraged workers
A
People who have been unable to find employment+
and are no longer looking for work
9
Q
Workforce
A
People who are economically active
(can be either employed or unemployed)
10
Q
Unemployed
A
People who are economically active
But not in employment
