Chap. 18 Flashcards
1
Q
2 key concepts in macro
A
unemployment and inflation
2
Q
Economic goals:
A
- maintain employment at high levels
- maintain prices at a stable level
- maintain a high rate of economic growth
3
Q
Real GDP
A
measures output or production
4
Q
Economic growth is measured by changes in
A
real GDP per capita
5
Q
Employment Act of 1946
A
a commitment by the federal govn. to pursue both full emplyment and stable prices
