Econ word search Part I
- Created by: Chloe
- Created on: 09-01-13 21:41
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Clues
- (in BoP): includes money flows due to trade (the trade balance- broken down to trade in goods and trade in services), transfers of interest, profit and dividends (the investment income balance) and transfers of money by governments and IO (7, 7)
- A measure of total output, expenditure or income of an economy after adjusting for changes in the price level. The growth of real GDP is the percentage change in output during a particular time period, often measured over a year. (4, 3, 6)
- Arises when someone is out of work and actively seeking employment. Measured as the total number of people unemployed (the level of unemployment) or as a percentage of the workforce (the rate of unemployment).t (12)
- Average rate of economic growth measured over a period of time, normally over the course of the economic cycle. (peak to peak or trough to trough) (5, 4, 2, 6)
- Economists who believe that market failures will result in price and quantity rigidities such that the equilibrium output in the long run may be less than its potential output (9, 10)
- Exists when firms in the economy are capable of producing more output than they are actually producing (5, 8)
- Fluctuations in the level of economic activity as measured by GDP. Four stages (8, 5)
- Records money flows into and out of a country over a period of time (7, 2, 8)
- The amount of the capital needed to generate each unit of output (7, 6, 5)
- The knowledge and skills of labour force (5, 7)
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