838998
Description
Flashcards by Azra Kucukkaramu, updated more than 1 year ago
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Created by Azra Kucukkaramu
about 10 years ago
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| Question | Answer |
| Balance of payments | Records money flows into and out of a country, over a period of time. |
| Real GDP growth | A measure of total output of an economy, adjusting for the changes in price level. |
| Inflation | The sustained increase in the average price level, measured in the UK by changes in the CPI. |
| Unemployment | Arises when someone is out of work and actively seeking employment. |
| Nominal GDP growth | A measure of total output of an economy, not adjusting for the changes in price level. |
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