Vocabulary List 9
Economics / Mr. Henry
Vocabulary List 9
Economics / Mr. Henry
Macroeconomics- part of economics that deals
with the economy as a whole and uses aggregate
measures of output, income, prices, and
employment
Macroeconomics- part of economics that deals
with the economy as a whole and uses aggregate
measures of output, income, prices, and
employment
Gross Domestic Product- dollar value of all final
goods, services, and structures produced within a
country’s national borders during a one-year
period
Gross Domestic Product- dollar value of all final
goods, services, and structures produced within a
country’s national borders during a one-year
period
Real GDP- gross domestic product after
adjustments for inflation
Real GDP- gross domestic product after
adjustments for inflation
Current GDP- gross domestic product measured
in current prices, unadjusted for inflation
Current GDP- gross domestic product measured
in current prices, unadjusted for inflation
Gross National Product- total dollar value of all
final goods, services, and structures produced in
one year with labor and property supplied by a
country’s residents, regardless of where the
production takes place
Gross National Product- total dollar value of all
final goods, services, and structures produced in
one year with labor and property supplied by a
country’s residents, regardless of where the
production takes place
Census- complete count of population, including
place of residence
Census- complete count of population, including
place of residence
Center of Population- point where the country
would balance if it were flat and everyone weighed
the same
Center of Population- point where the country
would balance if it were flat and everyone weighed
the same
Dependency Ratio- number of children and
elderly people in the population for every 100
persons in the 18 to 64 working-age bracket
Dependency Ratio- number of children and
elderly people in the population for every 100
persons in the 18 to 64 working-age bracket
Demographer- one who studies growth, density,
and other characteristics of the population
Demographer- one who studies growth, density,
and other characteristics of the population
Net Immigration- net population change after
accounting for those who leave as well as enter a
country
Net Immigration- net population change after
accounting for those who leave as well as enter a
country
Poverty Threshold- annual dollar income used to
determine the number of people in poverty
Poverty Threshold- annual dollar income used to
determine the number of people in poverty
Poverty Guidelines- administrative guidelines
used to determine eligibility for federal programs
Poverty Guidelines- administrative guidelines
used to determine eligibility for federal programs
Lorenz Curve-graph showing how the actual
distribution of income differs from an equal
distribution
Lorenz Curve-graph showing how the actual
distribution of income differs from an equal
distribution
Earned Income Tax Credit- federal tax credits
and cash payments for low-income workers
Earned Income Tax Credit- federal tax credits
and cash payments for low-income workers
Workfare- program requiring welfare recipients to
work in exchange for benefits
Workfare- program requiring welfare recipients to
work in exchange for benefits
Food Stamps- government-issued coupons that
can be exchanged for food
Food Stamps- government-issued coupons that
can be exchanged for food