Unit Two Economics Definitions 4.0 / 5 based on 1 rating ? EconomicsMacroeconomic indicatorsASEdexcel Created by: esgafCreated on: 25-04-13 20:36 Value of an economic variable based on current prices, taking no account of prices changing through time. Nominal Value 1 of 10 A measure of the economic activity carried out in an economy over a period. Gross Domestic Product 2 of 10 The rate of change of the average price level in an economy Inflation 3 of 10 The number of people claiming the Jobseeker's Allowance each month Claimant Count of Unemployment 4 of 10 The price of one currency in terms of another currency Exchange Rate 5 of 10 The income that households have to devote to consumption and saving, taking into account direct taxes and transfer payments Disposable Income 6 of 10 Expansion of the productive capacity of an economy Economic Growth 7 of 10 Unemployment that arises because of a deficiency of aggregate demand in the economy, so that the equilibrium level of output is below full employment Demand Deficient Unemployment 8 of 10 Decisions made by the government on its expenditure, taxation and borrowing Fiscal Policy 9 of 10 Range of measures intended to have a direct impact on aggregate supply - and specifically the potential capacity output of the economy Supply-Side Policies 10 of 10
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