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10 Cards in this Set

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Three major goals of Macroeconomics
1. Maintain employment
2. Maintain prices at a relatively stavble level
3. Achieve a high rate of growth
Real Gross Domestic Product RGDP
The total value of all final goods and services produces in a given time period such as a year, quarter.
Unemployment rate
the percent of the population aged 16 and older who are willing and able to work, but are unable to obtain a job.
Lbor force
the number of people aged 16 and older who are available for employment. Employed + unempoyed.
Discouraged worker
an individual who has left the labor force because he/she could not find a job
Three major goals of Macroeconomics
1. Maintain employment
2. Maintain prices at a relatively stavble level
3. Achieve a high rate of growth
Real Gross Domestic Product RGDP
The total value of all final goods and services produces in a given time period such as a year, quarter.
Unemployment rate
the percent of the population aged 16 and older who are willing and able to work, but are unable to obtain a job.
Lbor force
the number of people aged 16 and older who are available for employment. Employed + unempoyed.
Discouraged worker
an individual who has left the labor force because he/she could not find a job