Ecnomic Indicator Flashcards
1
Q
Inflation definition
A
Sustained increase in the general level of prices of goods and services from one year to the next
2
Q
Interest rates definition
A
Cost of borrowing money expressed as a % of amount, borrowed and a reward for money saved
3
Q
National income definition
A
Total value of new goods and services produced within a country in a year
4
Q
Economic growth definition
A
When increase in quantity of goods and services produced in economy from one year to the next
