Indicators of macroeconomic performance- Definitions Unit 2

Definitions economics as unit 2, indicators of macroeconomic performance

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  • Created by: hayley
  • Created on: 28-03-13 16:13
Economic Indicators
economic statistics that provide information about the expansions and contractions of business cycles
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Nominal GDP
GDP not adjusted for inflation
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Real GDP
GDP adjusted for inflation
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GDP per capita
GDP divided by the population - a measure of living standards
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Index Numbers
a weighted average of a group of items compared to a given base value of 100
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weighting
where a commodity is given a weighting proportional to its importance in the general pattern of consumer spending
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Other cards in this set

Card 2

Front

GDP not adjusted for inflation

Back

Nominal GDP

Card 3

Front

GDP adjusted for inflation

Back

Preview of the back of card 3

Card 4

Front

GDP divided by the population - a measure of living standards

Back

Preview of the back of card 4

Card 5

Front

a weighted average of a group of items compared to a given base value of 100

Back

Preview of the back of card 5
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