Macroeconomics Vocabulary Quiz

GDP minus inflation.

• Real GDP

• Nominal GDP

• Gross National Product

• Per Capita Income

Total amount of money the government has borrowed over a period of years.

• Federal Debt

• Federal Reserve

• Gross Domestic Product

• Budget Surplus

Unemployment caused by people changing jobs.

• Frictional Unemployment

• Cyclical Unemployment

• Structural Unemployment

• Stagflation

A period of price inflation and no economic growth or lower GDP. Fill in the blank with the correct term from the list:

• Stagflation

• Recession

• Consumer Price Index

• Federal Debt

The total $ value of all the goods and services produced in a country in one year.

• GDP

• Inflation

• Unemployment Rate

• Balance of Trade

The economy with large numbers of unemployment, declining incomes and severe economic hardship.

• Depression

• Inflation

• Boom

• Recovery

Excess federal spending in one year.

• Federal Deficit

• Federal Reserve

• Balanced Budget

• Fiscal Surplus

Products excluded from GDP because they are components / parts of other final goods.

• Intermediate Products

• Final Products

• Consumer Goods

• Capital Goods

An economic measure of inflation, determined by tracking prices of a specific basket of goods.

• Consumer Price Index

• Gross Domestic Product

• Producer Price Index

• Unemployment Rate

Sales of Used goods, not counted in GDP.

• Secondhand Sales

• Intermediate Products

• Consumer Price Index

• Federal Debt