Economic Terms: National Accounts, Stocks, Bonds, GDP, and Inflation, Quizzes of Introduction to Macroeconomics

Download Economic Terms: National Accounts, Stocks, Bonds, GDP, and Inflation and more Quizzes Introduction to Macroeconomics in PDF only on Docsity! TERM 1 national accounts DEFINITION 1 keep track of flows of money between different parts of the economy TERM 2 stock DEFINITION 2 share in ownership of a company held by shareholder TERM 3 bond DEFINITION 3 borrowing in the form of an IOU that pays interest TERM 4 disposable income DEFINITION 4 total household income minus taxes that is available to spend on consumption or to save TERM 5 private savings DEFINITION 5 equal to disposable income minus consumer spending, disposable income not spent on consumption TERM 6 financial markets DEFINITION 6 banking, stock and bond markets, channel private savings and foreign lending into investment spending, government borrowing and foreign borrowing TERM 7 GDP DEFINITION 7 gross domestic product, measures total value of all final goods and services produced in economy during a given year, DOES NOT INCLUDE VALUE OF INTERMEDIATE GOODS TERM 8 aggregate spending DEFINITION 8 sum of consumer spending, investment spending, government purchases of goods and services and exports minus imports, the total spending on domestically produced final goods and services in economy TERM 9 real GDP DEFINITION 9 total value of final goods and services produced, calculated using the prices of a selected base year TERM 10 nominal GDP DEFINITION 10 value of all final goods and services produced, calculated using the prices current in the year which output is produced