Macroeconomic objectives Flashcards
(7 cards)
1
Q
Unemployment
A
Those actively seeking work who are unable to find a job.
2
Q
How to you measure unemployment
A
number of unemployed ————————————————-
total number of persons in the labor force
3
Q
economic growth
A
when a country produces and sells more goods than it did the previous year.
4
Q
Inflation
A
the rate at which the general prices of goods and services increase over time.
5
Q
Deflation
A
When the rate of inflation is negative
6
Q
CPI
A
Consumer price index used to calculate inflation
7
Q
A
