Intro to Macroeconomics- Key Terms

  • Created by: Pelumi
  • Created 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

Other cards in this set

Card 2

Front

A prediction made about the likely future of an economy

Back

Forecast

Card 3

Front

The monetary value of goods and services produced within the geographical boundaries of a country in a given time period

Back

Preview of the front of card 3

Card 4

Front

How well an economy is doing in terms of output, inflation, employment, global trade and living standards

Back

Preview of the front of card 4

Card 5

Front

A period of at least 6 months when an economy suffers an fall in output

Back

Preview of the front of card 5
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