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18 Cards in this Set
- Front
- Back
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Consumption Expenditures |
The dollar value of all the goods and services sold to households |
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Disposable Personal Income (DPI) |
The income of households after taxes have been paid |
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Government Expenditures |
The dollar value of goods and services sold to governments |
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Gross Domestic Product (GDP) |
Dollar value of production within a nation's borders C+I+G+X |
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Gross National Product (GNP) |
Dollar value of production by a county's citizens |
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Intermediate Sales |
Sales to firms that will incorporate the item into their final product |
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Investment Expenditures |
Expenditures by businesses on plant and equipment and the change in business inventories |
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National Income (NI) |
The income earned by households and profits earned by firms after subtracting depreciation and indirect business taxes |
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National Economic Accounts (NEA) |
A comprehensive group of statistics that measures various aspects of the economy's performance |
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Net Exports |
Exports minus imports |
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Personal Income (PI) |
Income received by households |
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Real GDP |
GDP adjusted for price changes |
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Underground Economy |
All the illegal production of good and services and legal production that does not pass through markets |
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Consumer Price Index (CPI) |
Measure of the average change over time in the process paid by urban consumers for a market basket of consumer goods and services |
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Cyclical Unemployment |
Loss of jobs by individuals during a recession and the corresponding slowdown in production |
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Fisher's Hypothesis |
Nominal interest rate = real interest rate + expected inflation |
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Frictional Unemployment |
State of being out of work because the person is in between jobs |
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GDP Deflator |
Measure of the level of prices in the economy |
