Macro Intro

The total value of all final goods and services produced in a country in a given year.

• Gross Domestic Product

• Consumer Price Index

• Inflation

• Unemployment

A general increase in prices across an economy.

• Gross Domestic Product

• Consumer Price Index

• Unemployment

• Inflation

The percentage people in America who are 16 years old and above looking for a job.

• Gross Domestic Product

• Inflation

• Unemployment

• Consumer Price Index

Type of unemployment that occurs as a result of harvesting schedules, holidays, and/or when industries make seasonal shifts in production schedules.

• Seasonal Unemployment

• Structural Unemployment

• Frictional Uneployment

• Cyclical Unmeployment

Type of unemployment that occurs when people are in between a job or looking to change jobs.

• Seasonal Unemployment

• Structural Unemployment

• Frictional Unemployment

• Cyclical Unemployment

Type of unemployment that occurs when workers skills do not match those needed for the jobs available or jobs are phased out due to core changes in the economy.

• Seasonal Unemployment

• Structural Unemployment

• Frictional Unemployment

• Cyclical Unemployment

Unemployment that rises during economic downturns.

• Seasonal Unemployment

• Structural Unemployment

• Frictional Unemployment

• Cyclical Unemployment

An economics system in which economic decisions and the pricing of goods and services are guided by the interactions of a country's individual citizens and businesses.

• Market Economy

• Traditional Economy

• Mixed Economy

• Command Economy

What is money?

• only currency(bills) that is printed by the federal government

• any thing you want it to be

• any item accepted as payment for goods or services

• none of the above

Gross domestic product after adjustments for inflation is known as

• Real GDP

• GDP Per Capita

• National GDP

• Current GDP