Macroeconomic Definitions

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