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ECO 372 Week 1 Economic Definitions Worksheet
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 |