Econ Vocab

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Econ Vocab
2010-09-09 21:24:26

Vocab Quiz
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  1. Leading Indicator
    Leading indicators are indicators in economics and finance used to predict the future.
  2. Contraction
    A a period of economic decline marked by falling real GDP.
  3. Real GDP
    A macroeconomic measure of the size of an economy adjusted for price changes.
  4. Cyclical Unemployment
    A type of unemployment explained by the demand for labor going up and down with the business cycle.
  5. Price Index
    An index that traces the relative changes in the price of an individual good.
  6. Consumer Price Index
    An index of the cost of all goods and services to a typical consumer.
  7. Underemployment
    Employed only part-time when one needs full-time employment or not making full use of your skills.
  8. Aggregate Demand
    The total demand of all potential buyers of a commodity or service.
  9. Stagflation
    A period of slow economic growth and high unemployment.
  10. Inside Lag
    The amount of time it takes for a government or a central bank to respond to a shock in the economy.
  11. Hyperinflation
    Inflation that is very high or "out of control".
  12. Structural Unemployment
    A type of unemployment explained by a mismatch between the requirements of the employers and the properties.
  13. Inflation
    A rise in the general level of prices of goods and services in an economy over a period of time.
  14. Business Cycle
    Recurring fluctuations in economic activity consisting of recession and recovery and growth and decline.
  15. Full Employment
    The economic condition when everyone who wishes to work at the going wage rate for their type of labor is employed.
  16. Prime Rate
    Term applied in many countries to a reference interest rate used by banks.
  17. Discount Rate
    The rate of interest set by the Federal Reserve that member banks are charged when they borrow money through the Federal Reserve System.
  18. Capital Deepening
    A term used in economics to describe an economy where capital per worker is increasing.
  19. Frictional Unemployment
    Unemployment of people who are changing jobs, careers, or locations.
  20. Depreciation
    A term used in accounting, economics and finance to spread the cost of an asset over the span of several years.