| A | B |
|---|
| Another name for nominal GDP | current GDP |
| used to measure changes in prices over time | price index |
| what the output expenditure modle is used for | to calculate GDP |
| C+I+G+(X-M)= | GDP |
| amount of capital stock available per worker | capital-to-labor ratio |
| used to measure the U.S. economy until 1991 | GNP |
| tracks consumption, income and production | national income accounting |
| tells economists that economic change HAS occurred | coincident indicators |
| when demand, production and employment reach their lowest levels | trough |
| example of a lagging indicator | use of installment credit |
| term used to describe economic slowdown | contraction |
| term used to describe economic growth | expansion |
| used to anticipate the economy's direction | leading indicators |
