Unit 2 VocabularyM - real interest rate income approach...

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APEconomics/Presley Unit 2: Topic: Measurement of Economic Performance Vocabulary Economic growth productivity business cycle recession recovery labor force Real GDP GDP cyclical U unemployment rate discouraged workers frictional U potential output GDP gap Okun’s Law nominal income demand-pull inflation structural U real income anticipated inflation
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Unformatted text preview: real interest rate income approach inflation national income deflation nominal interest rate expenditures approach GDP Deflator LFPR Civilian labor force Peak trough COLA Natural rate of unemployment Unit 2 Graphs • Circular Flow of Economic Activity • Phases of the Business Cycle • GDP Gap...
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