Macroeconomic Definitions 0.0 / 5 ? Business Studies & EconomicsMacroeconomicsGCSEAQA Created by: SimoneCreated 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
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