Econ Core PF, S&D, Fed, Macro

Front

Consumer spending (personal consumption expenditures) include: all commodities that business firms buy, the purchase prices paid for stocks and bonds by individual households, the construction of residential housing, all goods and services bought by households.

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all goods and services bought by households.

Front

All final goods and services that make up GDP can be expressed in the form:

Back

GDP = C + I + G + Net Exports.

Front

The unemployment rate equals the number of persons: unemployed divided by the number in the labor force.

Back

unemployed divided by the number in the labor force.

Front

Inflation can be seen in, and is reflected by, an increase in: average price of goods in the CPI basket.

Back

average price of goods in the CPI basket.

Front

A good way to measure standard of living is by calculating: the economic growth rate, the inflation rate, the unemployment rate, per capita GDP

Back

per capita GDP

Front

If the prices of many products _______, inflation is present.

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rise

Front

CPI stands for

Back

Consumer Price Index

Front

Ceteris paribus, tax increases to businesses and people result in

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lower GDP

Front

Ceteris paribus, an increase in government spending results in

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higher GDP

Front

Unemployment is harmful to an economy (GDP) because it reduces consumer spending.

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it reduces consumer spending.