flash cards

Economic Indicators Chapter 32 Network

Question Answer
National Debt Domestic debt +foreign debt
CSO Central Statistics Office
Economic Growth Country's output of goods and services over a fixed period of time (a year)
GDP Gross domestic product
National Income Total net earnings from a country's production of goods and services in a year
Interest rates Reward for saving money
Interest rates Cost of borrowing money
APR annual percentage rate
Disposable income income an individual has left after all taxes have been paid
Inflation increase in the price of a good or service
Deflation when the rate of inflation falls below 0%
Labour force Individuals between the ages of 18 and 65 who are available to work
Employment rate total percentage of the labour force that is employed
Unemployment rate total percentage of the labour force that cannot find work
Opportunity cost item we did not buy because we chose to buy another item
Debt servicing Amount of money that the government allocates for paying off the national debt

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