Term
|
Definition
| Degree to which people have access to goods and services that improve their lives. |
|
|
Term
|
Definition
| Increases in the quality and quantity of goods and services an economy can produce. |
|
|
Term
|
Definition
| Total output divided by the population. |
|
|
Term
| Average Labour Productivity |
|
Definition
| Output per employed worker. |
|
|
Term
|
Definition
|
|
Term
|
Definition
| Periods of negative growth. |
|
|
Term
|
Definition
| A severe and long-lasting recession. |
|
|
Term
|
Definition
| The fraction of the labour force looking for a job and can't find one. |
|
|
Term
|
Definition
| Increase in the overall price level. |
|
|
Term
|
Definition
| When a country's imports exceed their exports. |
|
|
Term
|
Definition
| When a country's exports exceed their imports. |
|
|
Term
|
Definition
| Central Bank management of interest rates to achieve macroeconomic objectives. |
|
|
Term
|
Definition
| Government budget, including the composition and execution of expenditures and revenues. |
|
|
Term
|
Definition
| Policies aimed at changing the basic foundation of the nation's economy and institutions. |
|
|
