ECON 200 Lecture Notes - Lecture 9: Gdp Deflator, Final Good, Business Cycle
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14 Dec 2019
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Study of how households and firms make decisions, how they interact in markets, industrial organization and how the government attempts to influence their choices. Study of the economy as a whole, including topics such as inflation, unemployment, and economic growth and how government policies impact the overall economy. Total market value of all final goods and services produced within the boundaries of a country, state or region during a specific period of time. Calculated on quarterly basis; seasonally adjusted (once every 3 months) The bureau of economic analysis (bea), part of the u. s. department of. Most common measure used by economists of overall economic activity. Measure of average overall prices of goods and services in the economy. Measured on a monthly basis by bureau of labor statistics (bls) Increase in the overall level of prices; cpi increases. Decrease in the overall level of prices; cpi decreases. % of labor force actively seeking and unable to find jobs.
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