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A_list_of_important_concepts_for_EXAM_4 - 10 The...

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A list of important concepts 1 1. Price index (CPI) 2. Inflation (its causes and consequences) 3. Phillips curve (short and long run cases) 4. Natural rate of unemployment 5. Anticipation of inflation 6. Employed/unemployed/labor force/not in the labor force 7. The accounting of GDP in open economy: GDP=C+I+G+X 8. Indicators of convergence (3.5%-4.0% annual growth in per capita productivity, less than 1.5% population growth) 9. Population (world population growth rates)
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Unformatted text preview: 10. The relationship between nominal GDP, real GDP, and inflation 11. Parallel growth occurred within developed countries 12. Convergence and divergence 13. Benchmark for long term growth (2.5% to 3.0%) 14. Poverty (causes, poverty trap) 15. Impediment to economic growth 16. Productivity, human capital 17. Capital deepening/widening 1 The concepts listed herein are for reference purpose only....
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