A Measure That Economists Use in Order to Keep Track

question 105

Multiple Choice

A measure that economists use in order to keep track of employment is

• A) the price level
• B) real GDP per person
• C) real GDP
• D) the growth rate of output
• E) the unemployment rate

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Definitions:

Policy Activists

Individuals or groups advocating for changes in public policy to advance particular goals or interests.

Non-Interventionists

Individuals or policies favoring minimal diplomatic and military involvement by a country in the affairs of other nations.

Monetarists

Economists who emphasize the role of governments in controlling the amount of money in circulation to regulate the economy and control inflation.

Classical Economic Theory

A school of thought in economics that emphasizes free markets, the importance of limited government intervention, and the role of supply and demand in an economy.