The National and International Economy

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Macroeconomics
the study of the interrelationships between economic variables at an aggregate level
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Nominal Value
value of an economic variable based on current prices, taking no account of changing prices through time
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Real Value
value of an economic variable taking account of changing prices through time
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Index Number
a device for comparing the value of a variable in one period or location with a base observation
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CPI
a measure of the general level of prices in the UK, adopted as he govt inflation target since december 2003
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Inflation
the rate of change of the APL
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RPI
a measure of the APL in uk
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Claimant Count of Unemployment
the number of people claiming the jobseekers allowance each month
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Other cards in this set

Card 2

Front

Nominal Value

Back

value of an economic variable based on current prices, taking no account of changing prices through time

Card 3

Front

Real Value

Back

Preview of the front of card 3

Card 4

Front

Index Number

Back

Preview of the front of card 4

Card 5

Front

CPI

Back

Preview of the front of card 5
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