Intro to Macroeconomics- Key Terms 3.0 / 5 based on 1 rating ? EconomicsMacroeconomic indicatorsASAQA Created by: PelumiCreated on: 22-03-13 15:11 Variations in the annual rate of growth of an economy over time Economic Cycle 1 of 9 A prediction made about the likely future of an economy Forecast 2 of 9 The monetary value of goods and services produced within the geographical boundaries of a country in a given time period GDP 3 of 9 How well an economy is doing in terms of output, inflation, employment, global trade and living standards Macroeconomic Performance 4 of 9 A period of at least 6 months when an economy suffers an fall in output Recession 5 of 9 An upturn phase in the business cycle when GDP recovers from a trough Recovery 6 of 9 A fall in the rate of growth of an economy but not a full-scale recession Slowdown 7 of 9 The rate of growth which meets the needs of the present without compromising the ability of future generations to meet their own needs Sustainable Growth 8 of 9 Growth of output that lasts for several years in succession Sustained growth 9 of 9
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