Flashcard Set Preview
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| 1 |
Economic Growth
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refers to the increase in production of goods and services (output) over time- standard...
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Productivity
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measures the amount of production (output) relative to the amount of inputs- standard measure...
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The business cycle
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expansions and recession-dated by identifying periods of recession from peak to trough--Canada...
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Unemployment
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measured as persons in the labour force that are unable to nd work-varies with the business...
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Inflation
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rate of change of the general price levelBank of - Bank of Canada has an ination target...
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small open economy
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Canada is this
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Macroeconomic Policy
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Fiscal policy: taxes, government spending, government de cits and debt---very important...
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