Term
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Definition
| the adding up of individual economic variables to obtain economy-wide totals |
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Term
| average labor productivity |
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Definition
| output per employed worker |
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Definition
| decisions that determine the government's budget, including the amount and composition of government expenditures and government revenue |
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Term
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Definition
| government actions designed to affect the performance of the economy as a whole |
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Term
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Definition
| determines the nation's money supply |
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Term
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Definition
| addresses the question of whether a policy should be used; involves the value of the person doing the analysis |
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Term
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Definition
| addresses the consequences of a particular event or policy, not whether those consequences are desirable |
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Term
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Definition
| government policies aimed at changing the underlying structure, or institutions, of the nation's economy |
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