Definitions Quiz

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These accumulate over time and are measures at a particular point
Stocks
1 of 8
This is continuous and can be measures only per period of time
Flow
2 of 8
This is the flow of actual goods and services produced within an economy in a particular time period, before making deduction of capital goods which produce the flow of new goods and services
Real GDP
3 of 8
This the same flow measured at the average price level for the period in question
Nominal GDP
4 of 8
Output per unit of capital
Capital Productivity
5 of 8
Output per worker
Labour Productivity
6 of 8
The average rate of economic growth over the period of at least one complete economic cycle
Trend Growth
7 of 8
The level of output produced when the economy grows at its trend growth rate.
Trend Output
8 of 8

Other cards in this set

Card 2

Front

This is continuous and can be measures only per period of time

Back

Flow

Card 3

Front

This is the flow of actual goods and services produced within an economy in a particular time period, before making deduction of capital goods which produce the flow of new goods and services

Back

Preview of the front of card 3

Card 4

Front

This the same flow measured at the average price level for the period in question

Back

Preview of the front of card 4

Card 5

Front

Output per unit of capital

Back

Preview of the front of card 5
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