Master this deck with 13 terms through effective study methods.
Generated from uploaded pptx
They describe macroeconomic indicators of the economy.
They were established in 1960.
It quantifies the market value of goods and services produced.
By summing the value of final goods and services produced.
Nominal GDP uses current prices, while real GDP uses constant prices.
It allows for comparison of economic output over time.
It changes the value of final goods produced.
The ratio of unemployed individuals to the labor force.
Broad unemployment includes discouraged workers.
It affects income distribution and investment decisions.
The cost of specific items and services over time.
Year-to-year changes in consumer confidence.
Factors like the education system and savings rate.