Economic Indicators Flashcards
1
Q
Three measures of Economic Performance
A
- GDP
- Unemployment Rate 3. Inflation Rate
2
Q
Target GDP?
A
3-4%
3
Q
Unemployment Rate and Target?
A
is the percentage of people that cannot work out of all the people that can work. Target rate is 5-6%
4
Q
Inflation and Target Rate?
A
The increased price of goods and services over a period. Target Rate is 2-3%
5
Q
Inflation indicator
A
CPI (Consumer Price Index) follows household inflation.
6
Q
Free Trade
A
without protectionist policies such as tariff, subsidy or quota.
