Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Begin Supply Key Economic Assumptions Flow Model GDP Unemployment Demand $100 $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500 $500 - $100 Temporarily unemployed or being between jobs such as individuals that are qualified workers with transferrable skills What is frictional unemployment? - $200 Changes in the structure of labor force and therefore makes some skill obsolete. What is structural unmployment? - $300 Unemployment that results from economic downturns such as recessions. What is cyclical unemployment? - $400 Is formed by Frictional unemployment and structural unemployment What is the natural rate of unemployment? - $500 Unemployment from 4 to 6 percent is normal unemployment What is full unemployment? - $100 The place where goods and services produced by businesses are sold to households What is the product market? - $200 The place where resources, land, labor capital Your text ability sold to businesses and entrepreneurship here What is resource factor market? - $300 Goods that are designed for use by final consumer What are consumer goods? - $400 The inputs of labor, natural resources and capital used to generate new goods and services What is productive resources?b - $500 Household spending on goods and services What is consumer spending? - $100 The study of scarcity and choice What is economics? - $200 Rewards or punishments that motivate particular choices What are incentives? - $300 Focuses on the choice of individuals at the most basic level What is microeconomics? - $400 The overall ups and downs of the economy overall What is a macroeconomics? - $500 An industry that is publicly owned and has a central authority making production and consumption decisions. What is command economy? - $100 The dollar value of all final goods and services produced within a country's borders in one year What is GDP? - $200 Goods and services bought from one firm by another firm to be used as inputs into the production of final goods and services What are intermediate goods and services? - $300 Spending on a new productive physical capital, such as machinery and structures, and on changes in inventories What is investment spending? - $400 The difference between the value of exports and the value of imports What are net exports? - $500 The total spending on domestically produced final goods and services in the economy What is a aggregate spending? - $100 Changes in price of related goods or services, income, taxes, expectations and number of consumers. What are shifts in demand curve? - $200 Holds and inverse relationship as price rises. What is demand? - $300 A higher prices for goods or sevices all other things being equal leads to people to demand a smaller quantity of that goods and services What is the law of demand? - $400 Changes in input prices, in the price of related goods or services , changes in technology, expectations and number of producers. What are changes in supply curve? - $500 Other things being equal, the price and quantity supplied of a good are positively related What is the law of supply? - $100 The sum of the employed and the unemployed What is the labor force? - $200 The nominal interest rate minus the rate of inflation What is the real interest rate? - $300 The percent change per year in a price index, typically the consumer price index What is inflation rate? - $400 Arise from the way the inflation makes money a less reliable unit of measurement What is the unit of accounts cost? - $500 A hypothetical set of consumer purchases of goods and services What is market basket?