ECONOMIC DEFINITION WORKSHEET WEEK1

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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

 

 

 

 

 

 

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