Module 5 Review (Economics)

Front

Consumption + Investment + Government Spending + (Exports - Imports) What is the formula above used to calculate?

Back

Gross Domestic Product

Front

___________ is the measurement of how much an economy's production of goods and services has increased over a period of time.

Back

Economic Growth

Front

What is the target unemployment rate?

Back

4-5%

Front

Which type of unemployment occurs when people are between jobs?

Back

Frictional

Front

Which type of unemployment occurs due to changes in technology?

Back

Structural

Front

Which type of unemployment occurs as a result of fluctuations in the economy?

Back

Cyclical

Front

Which type of unemployment occurs due to changes in the time of year?

Back

Seasonal

Front

_________ is a measure of the rate at which prices are increasing. It is measured using the Consumer Price Index.

Back

Inflation

Front

What is the target inflation rate?

Back

2-3%

Front

Which type of inflation occurs when prices rise in response to the demand for goods and services being higher than the supply?

Back

Demand-Pull Inflation