macro econ unit 2

The actual unemployment rate - natural unemployment rate

• labor force

• cyclical unemployment

• employed

used to track inflation, focuses on goods and services used by urban consumers

• GDP

• CIP

• consumer price index (CPI)

• GDP deflator

the tool most commonly used to convrt nominal GDP to real GDP

• GDP deflator

• consumer price index

• investment

A factor of GDP calculations, the focuz of factor markets

• market value

• investments

• income approach

the same as aggregate domestic income for a given year.

• nominal intrest

• GDP deflator

• Gross domestic product

• fixed intrest

The dreaded enemy of creditors holding fixed-interest-rate loans is _____.

• inflation

• unexpected inflation

• deflation

Economists worry about ____ leading to a dramatic decrease in consumer spending, lowering real GDP.

• Inflation

• unemployment

• deflation

Whenever the actual employment of resources is greater than the full employment, a/n ______ is created.

• inflationary gap

• bottom of buisness cycle

• delation

A discouraged worker is ________ to the labor force, and somewhat artificially lowers the unemployment rate.

• useless

• benifical

• marginally attached

A business's changes in inventory from the previous year is reflected in this portion of GDP.

• MBP

• income

• Investment

• CPI