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Created by Azra Kucukkaramu
over 10 years ago
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Question | Answer |
Balance of payments | Records money flows into and out of a country, over a period of time. |
Real GDP growth | A measure of total output of an economy, adjusting for the changes in price level. |
Inflation | The sustained increase in the average price level, measured in the UK by changes in the CPI. |
Unemployment | Arises when someone is out of work and actively seeking employment. |
Nominal GDP growth | A measure of total output of an economy, not adjusting for the changes in price level. |
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