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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) |
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Real GDP |
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Nominal GDP |
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Unemployment rate |
| |
Inflation rate |
| |
Fiscal Policy |
| |
Monetary policy |
| |
Aggregate Demand (AD) Curve |
| |
Macroeconomics | ||
Microeconomics | ||
Circular Flow Model | ||
Supply Curve | ||
Demand Curve |