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