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ECO 372 Week 1 Economic Definitions Worksheet

December 14, 2020

Complete the Macroeconomic Terms Worksheet.

Click the Assignment Files tab to submit your assignment.

 

University of Phoenix Material                      

 

Macroeconomic Terms

 

 

Define the following terms in your words.

 

 

Term

Definition

Definition Source

Gross Domestic Product (GDP)

 

 

 

Real GDP

 

 

 

Nominal GDP

 

 

 

Unemployment rate

 

 

 

Inflation rate

 

 

 

Fiscal Policy

 

 

 

Monetary Policy

 

 

 

Aggregate Demand (AD) Curve

 

 

 

Macroeconomics

 

 

 

Microeconomics

 

 

 

Circular Flow Model

 

 

 

Supply Curve

 

 

 

Demand Curve