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Creado por lucyhacking
hace más de 10 años
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Pregunta | Respuesta |
GDP | The total output produced by the economy, measured in money terms |
Income method | Calculating everyone's income |
Outcome method | Value of everything produced |
Expenditure method | Money spent |
Injection | Money coming in, represent spending on final goods/services |
Withdrawels | Money leaking out, represent income earned by households |
Real GDP | GDP adjusted for price changes (inflation) |
Imports | Products of foreign origin brought into our country |
Exports | Products of local origin sold to other countries |
Government spending | Makes a significant portion of GNP, also known as public spending in Britain, the money the government spends for education etc |
Saving | Portion of disposable income not spent on consumption of consumer goods |
Taxation | Government finance their expenditure by imposing charges on citizens and corporate entities |
Hidden economy | The illegal business of buying or selling goods |
Economic cycle | General pattern goes expansion,peak,recession then recovery. All market economies repeatedly- measured by GNP |
Boom | When an economy rises a lot, When there is low rate unemployment, rapidly increasing consumer prices (inflation) |
Recession | A period of at least 6 months when an economy suffers a fall in output |
Inflation | An increase in the price of goods that is representative of an economy as a whole |
Aggregate Supply | The total output producers are willing and able to supply at different price levels in a given time period |
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