Macro
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
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20 questions
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1.
FLASHCARD QUESTION
Front
What is a measure of our economy?
Back
Gross Domestic Product (GDP)
2.
FLASHCARD QUESTION
Front
What does the GDP measure?
Back
The total value of all goods and services produced over a specific time period within a country's borders.
3.
FLASHCARD QUESTION
Front
What type of GDP removes inflation?
Back
Real GDP
4.
FLASHCARD QUESTION
Front
What is the biggest component of GDP?
Back
Consumer spending
5.
FLASHCARD QUESTION
Front
What is a measure of inflation?
Back
Consumer Price Index
6.
FLASHCARD QUESTION
Front
What is the highest point of a business cycle?
Back
Peak
7.
FLASHCARD QUESTION
Front
What part of the business cycle does the GDP start to grow?
Back
Expansion
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