Macroeconomics Vocab Quiz

Rules or laws affecting commerce

• complements

• substitutes

• subsidies

• costs

• regulations

Payments or support from the government given to businesses.

• complements

• substitutes

• subsidies

• costs

• regulations

All, or everything

• Aggregate

• GDP

• Inflation Rate

• Unemployment Rate

• GDP Annual Growth Rate

This is a measure of the value of all the goods and services produced within an area during a given period of time.

• Aggregate

• Gross Domestic Product (GDP)

• Inflation Rate

• Unemployment Rate

• GDP Annual Growth Rate

This is a measure of how much overall prices change over time.

• Aggregate

• Gross Domestic Product (GDP)

• Inflation Rate

• Unemployment Rate

• GDP Annual Growth Rate

This is a measure of the number of people who are able to work and actively looking for work, but don't have a job.

• Aggregate

• Gross Domestic Product (GDP)

• Inflation Rate

• Unemployment Rate

• GDP Annual Growth Rate

This is a measure of how much the GDP of an economy changes from one year to the next.

• Aggregate

• Gross Domestic Product (GDP)

• Inflation Rate

• Unemployment Rate

• GDP Annual Growth Rate

This is currency that is made from an item that has another use in the productive process, for instance, silk, or corn.

• Commodity Money

• Specie Money

• Fiat Money

• Loan

• Interest

When precious metals are used as currency, like gold or silver, it is this type of money...

• Commodity Money

• Specie Money

• Fiat Money

• Loan

• Interest

Currency that is based on common agreement and is not backed by a commodity or specie, for instance, paper dollars in the United States.

• Commodity Money

• Specie Money

• Fiat Money

• Loan

• Interest