Term
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Definition
| The total vlaue of all final goods and services produced for the market place during a given year within the nations borders |
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Definition
| Goods used up in producing final goods |
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Term
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Definition
| A good ssold to its final user |
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Term
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Definition
| Measuring GDP by adding the value of goods and services by each type of final user |
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Term
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Definition
| The part of GDP that is purchases by househoolds as final users |
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Term
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Definition
| The total value of all goods that will provide useful services in future years |
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Term
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Definition
| The sum of business plant, equipment, and software purchases, new-home construction and inventoryy changes, often reffered to as just investment |
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Term
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Definition
| Spending by federal, state and local government on goods and services |
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Term
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Definition
| Any payment that is not compensation form supplying good or services |
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Term
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Definition
| Total Exports minus total imports |
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Term
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Definition
| The revenue a firm recieves minus the cost of the intermiated goods it buys |
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Term
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Definition
| Measuring GDP by summing the calue added by all firms in the economy |
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Term
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Definition
| Payments to the owners of resources that are used in production |
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Term
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Definition
Measuring GDP by summing the facor payments earned by all households in the economy |
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Term
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Definition
| A variable measured without adjustment for the dollars changing value |
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Term
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Definition
| A varialb eadjusted for changes in the dollars value |
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Term
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Definition
| Goods and services that are produced but not sold in a market |
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Term
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Definition
| Joblessness experienced by ppl who are between jobs, or reentering the workplace |
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Term
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Definition
Joblessness releated to changes in weatrher, tourist patterns or other factors |
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Term
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Definition
| Joblessness arising form missmatches between workers skills and employers requirments or locations |
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Term
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Definition
| Joblessness arising from changes in production over the businnes cycle |
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Term
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Definition
| A situation where there is no cyclical unemployment |
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Term
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Definition
| The level of output hte economy could produce if operating at full employment |
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Term
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Definition
| Those people who have a job or who are looking for one |
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Term
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Definition
| The fraction of the labour force that is without a job |
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Term
| Involuntary part time workers |
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Definition
| individuals who would like ot work a full time job but are working only part time |
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Term
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Definition
| Individuals who woudl like a job but have given up searching for one |
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