a worker who is not currently employed and is searching for a job without success
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Unemployment
serves to deflate all the price inflation out of nominal GDP so that we can see real
GDP
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GDP Deflator
,actual consumers substitute away from goods whose prices are spiking; CPI assumes
that they're consuming the same basket
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Substitution Bias
the measure of all final goods and services produced within a nation during a specific
time
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Gross Domestic Product (GDP)
sum of structural and frictional unemployment
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Natural Unemployment Rate
Exports minus imports of final goods - typically negative for the US
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Net Exports
, how much currency is required to actually buy goods and services
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Purchasing Power Parity
[Unemployment / (Employed + Unemployed)] x 100
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Unemployment Rate =
[Employed / (Employed + Unemployed)] x 100
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Employment Rate =
measured as the percent change in per capita GDP
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Economic Growth
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Unemployment
serves to deflate all the price inflation out of nominal GDP so that we can see real
GDP
Give this one a try later!
GDP Deflator
,actual consumers substitute away from goods whose prices are spiking; CPI assumes
that they're consuming the same basket
Give this one a try later!
Substitution Bias
the measure of all final goods and services produced within a nation during a specific
time
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Gross Domestic Product (GDP)
sum of structural and frictional unemployment
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Natural Unemployment Rate
Exports minus imports of final goods - typically negative for the US
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Net Exports
, how much currency is required to actually buy goods and services
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Purchasing Power Parity
[Unemployment / (Employed + Unemployed)] x 100
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Unemployment Rate =
[Employed / (Employed + Unemployed)] x 100
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Employment Rate =
measured as the percent change in per capita GDP
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Economic Growth
