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2.1 - measures of economic performance

This class was created by Brainscape user Nijan Kannathasan. Visit their profile to learn more about the creator.

By: Nijan Kannathasan
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Decks in this class (12)

2.1.1 - Economic Growth - National Income measures
Gross domestic product gdp,
Economic growth,
Real gdp
18  cards
2.1.1 - Economic Growth - PPP and Exchange Rates
Define purchasing power parity ex...,
Define exchange rate market excha...,
Define currency appreciation
3  cards
2.11 - Economic Growth - Accuracy of national statistics
Reasons why national statistics a...,
Explain hidden economy,
Examples of tax
5  cards
2.1.1 - Economic Growth - Comparing National income over time
Problems with comparing national ...,
Explain prices,
Explain quality of goods and serv...
10  cards
2.11 - Comparing national income between countries
Issues with comparing national in...
1  cards
2.1.1 - Economic Growth - National Happiness
Can national income be a measure ...,
Explain the easterlin paradox,
Explain another theory about happ...
4  cards
2.1.2 - Inflation
Define inflation,
Define deflation,
Define disinflation
15  cards
2.1.2 - Inflation - Causes
Name three causes of inflation,
Define demand pull inflationvery ...,
Causes of demand pull inflation i...
13  cards
2.1.2 - Costs and benefits of inflation
Name the costs of inflation,
Explain purchasing power fallscos...,
Explain menu costscost of inflation
15  cards
2.1.3 - Employment and unemployment
Define underemployed,
Define labour force,
Define population of working age
13  cards
2.1.3 - Employment and Unemployment - Caused of Unemployment and Costs of Unemployment
Name 5 causes of unemployment,
Define frictional unemployment,
Define seasonal unemployment
14  cards
2.1.4 - Balance of payments
Define balance of payments account,
Name two components of balance of...,
Define current account
13  cards

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2.1 - measures of economic performance

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