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# Lernmaterialien für Macroeconomics an der Universität Luzern

Greife auf kostenlose Karteikarten, Zusammenfassungen, Übungsaufgaben und Altklausuren für deinen Macroeconomics Kurs an der Universität Luzern zu.

TESTE DEIN WISSEN

What value of unemployment rate is normal for a economy?

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A value between 3% and 10%.

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What is the CPI?

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The average price of consumer goods.

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Which 3 basic macroeconomic variables are there?

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1. The Aggregate Output

2. The Unemployment Rate

3. The Inflation Rate

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TESTE DEIN WISSEN

What 2 kind of periods of GDP growth rate are there?

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Periods of positive growth called expansions

and

Periods of negative growth called recessions.

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What is a so called labor share?

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The distribution rate of the total revenue among employees and capital holders is defined as the labor share (in percentage).

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TESTE DEIN WISSEN

Why can the difference between GDP

deflator and CPI can be neglected and what cause does that have?

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Both move together most of the time. In what follows, we do not distinguish between the two - but simply talk about the price level.

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What role does the GDP have in economics?

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It is an important measure of aggregate income.

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What is a Real GDP?

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The sum of the quantities of final goods produced times constant prices (e.g. the specific price at year 2013).

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What are the main differences between Nominal and Real GDP?

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TESTE DEIN WISSEN

Nominal GDP reflects quantity and prices changes in a market.

Real GDP only reflects the quantity changes over time.

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What do economists consider to assess the year-to-year performance of an economy?

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The growth rate of the Real GDP.

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What is the Inflation Rate?

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The rate at which the general level of prices (price level) changes.

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What is the GDP deflator?

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It is a measure for Inflation.

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• 3259 Karteikarten
• 252 Studierende
• 1 Lernmaterialien

## Beispielhafte Karteikarten für deinen Macroeconomics Kurs an der Universität Luzern - von Kommilitonen auf StudySmarter erstellt!

Q:

What value of unemployment rate is normal for a economy?

A:

A value between 3% and 10%.

Q:

What is the CPI?

A:

The average price of consumer goods.

Q:

Which 3 basic macroeconomic variables are there?

A:

1. The Aggregate Output

2. The Unemployment Rate

3. The Inflation Rate

Q:

What 2 kind of periods of GDP growth rate are there?

A:

Periods of positive growth called expansions

and

Periods of negative growth called recessions.

Q:

What is a so called labor share?

A:

The distribution rate of the total revenue among employees and capital holders is defined as the labor share (in percentage).

Q:

Why can the difference between GDP

deflator and CPI can be neglected and what cause does that have?

A:

Both move together most of the time. In what follows, we do not distinguish between the two - but simply talk about the price level.

Q:

What role does the GDP have in economics?

A:

It is an important measure of aggregate income.

Q:

What is a Real GDP?

A:

The sum of the quantities of final goods produced times constant prices (e.g. the specific price at year 2013).

Q:

What are the main differences between Nominal and Real GDP?

A:

Nominal GDP reflects quantity and prices changes in a market.

Real GDP only reflects the quantity changes over time.

Q:

What do economists consider to assess the year-to-year performance of an economy?

A:

The growth rate of the Real GDP.

Q:

What is the Inflation Rate?

A:

The rate at which the general level of prices (price level) changes.

Q:

What is the GDP deflator?

A:

It is a measure for Inflation.

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