macroeconomic indicators (10.1.2)

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  • Created by: lee42
  • Created on: 02-07-19 10:31
what does an increase in real GDP show?
it is an increase in real value of goods/services produced in an economy in a gigen time period
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what is real GDP per capita?
(per capita means divided by population)
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what is the definiton of inflation?
its a persistent increase in the general price level of a given time period
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how is inflation measured?
CPI and RPI- they calculate by measuring the change in the value of the basket of a good and service
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what is the deinition of unemployment?
it is defined as someone who is actively seeking a job but is cuurently without a job
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what is the claiman count?
its the made up of people who are receiving job allowance
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what is international labour organisation?
it defines unemloyment as someone actively seeking work for the past four weeks but ready and able to start in two weeks
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what is the defintionb of underemployed?
workers who would like, but cant get more hours
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why is international competitveness a good indicator of the economy?
it indicates how likely consusmer from other countries are to buy the country goods
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what is the trade balance?
it is the value of exports vs the value of imports
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what is the definiton of productivity?
It is defined as the output per unit of input per hour
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why is labour productivity important indiactor?
because increased efficency lowers unbit cost
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Other cards in this set

Card 2

Front

what is real GDP per capita?

Back

(per capita means divided by population)

Card 3

Front

what is the definiton of inflation?

Back

Preview of the front of card 3

Card 4

Front

how is inflation measured?

Back

Preview of the front of card 4

Card 5

Front

what is the deinition of unemployment?

Back

Preview of the front of card 5
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