Macroeconomics Core
Curated Economics deck. Add it to your library and study with spaced repetition.
Study this deck free in PlanexAI
Add it in one tap and PlanexAI schedules every card with spaced repetition around your real classes and exams.
Start studying freeSample cards
What is GDP?
Gross domestic product: the total market value of goods and services produced in a country in a period.
What is inflation?
A sustained rise in the general price level, reducing purchasing power.
What is the unemployment rate?
The percentage of the labor force that is jobless and actively seeking work.
What is fiscal policy?
Government use of taxing and spending to influence the economy.
What is monetary policy?
A central bank's management of money supply and interest rates.
What does a central bank do to fight high inflation?
Typically raises interest rates to slow borrowing and spending.
What is a recession?
A significant, broad decline in economic activity, often two consecutive quarters of falling GDP.
What is nominal versus real GDP?
Nominal GDP uses current prices; real GDP adjusts for inflation.
Plus 8 more cards in the app.