Economics

Card Set Information

Author:
Anonymous
ID:
17745
Filename:
Economics
Updated:
2010-05-04 11:36:41
Tags:
Economics FINAL
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Description:
Economics- Study guide
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  1. The # of unemployed people divided by the size of the labor force
    unemployment rate
  2. All persons over 16 who are either working for pay or actively seeking paid employment
    labor force
  3. the lowest rate of unemployment compatible with price stability
    full employment
  4. Income received in a given time period measured in current dollars
    nominal income
  5. the value of output measured in current prices is known as __________ GDP
    nominal
  6. nominal income adjusted for inflation
    real income
  7. computed by the Bureau of Labor Statistics as the average price of consumer goods.
    consumer price index

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