Macroeconomic Definitions

HideShow resource information
  • Created by: Simone
  • Created on: 24-09-13 19:00
Macroeconomics
the field of economics that studies the behaviour of the aggregate economy
1 of 16
economic growth
an increase in the productive outputs of an economy
2 of 16
inflation
a sustained increase in the prices of goods and services
3 of 16
unemployment
actively seeking and willing to work but cannot find work
4 of 16
economic stability
minimum fluctuations
5 of 16
unemployment rate
percentage of the labour force unemployed
6 of 16
population of working age
set range of ages considered able and likely to work
7 of 16
labour force
total number of people employed or seeking employment
8 of 16
LFS
measures unemployment using a sample of 60,000 households
9 of 16
Claimant Count
measures unemployment by the number of people claiming JSA
10 of 16
ILO
United Nations agency dealing with labour issues
11 of 16
JSA
UK benefit - cover the expenses of the unemployed
12 of 16
Inflation rate
percentage increase of goods and services
13 of 16
deflation
general decline in the prices of goods and services
14 of 16
CPI
weighted averages of prices of a basket of goods
15 of 16
RPI
tracks changes in the cost of a fixed basket of goods over time
16 of 16

Other cards in this set

Card 2

Front

an increase in the productive outputs of an economy

Back

economic growth

Card 3

Front

a sustained increase in the prices of goods and services

Back

Preview of the back of card 3

Card 4

Front

actively seeking and willing to work but cannot find work

Back

Preview of the back of card 4

Card 5

Front

minimum fluctuations

Back

Preview of the back of card 5
View more cards

Comments

No comments have yet been made

Similar Business Studies & Economics resources:

See all Business Studies & Economics resources »See all Macroeconomics resources »