Unit 3 Macro Vocab Quiz

Second goal of a healthy economy which aims to limit inflation

Goal #3 of a healthy economy; occurs when the unemployment rate is between 4-6%

The dollar value of all final goods and services produced within a country's borders in a given year

Consumer spending, investments, government spending, and net exports (exports minus imports) are used to calculate this

When someone loses their job because the work has been taken oversees is this type of unemployment?

Working as a mall Santa or a lifeguard at your summer pool constitutes this type of unemployment?

A market basket of typical goods and services comparing economic growth and inflation from one year to another is know as the

Unemployment that occurs during a recession

A general increase in prices (which lessens your purchasing power)

The total amount of ALL finished goods and services purchased at ALL possible prices