(Print) Use this randomly generated list as your call list when playing the game. There is no need to say the BINGO column name. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.
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Gross Domestic Product (GDP) – The total monetary value of all final goods and services produced within a country in a year.
Deflation – A sustained fall in the general price level.
Recession – Two consecutive quarters of negative economic growth.
Appreciation – A rise in the value of a currency.
Balance of payments – A record of all financial transactions between a country and the rest of the world.
Marginal propensity to consume (MPC) – The proportion of extra income that is spent.
Aggregate demand (AD) – The total demand for goods and services in an economy at a given price level and time.
Inflation – A sustained increase in the general price level.
Boom – A period of rapid economic growth and rising incomes.
Unemployment – When people willing and able to work cannot find a job.
Monetary policy – Central bank control of interest rates and money supply to influence the economy.
Short-run aggregate supply (SRAS) – The relationship between price level and output when wages and some costs are fixed.
Cyclical unemployment – Unemployment caused by a lack of demand during a recession.
National debt – The total accumulation of past government borrowing.
Circular flow of income – The movement of money between households, firms, government and abroad.
Retail Price Index (RPI) – An older measure of inflation including housing costs.
Exchange rate – The price of one currency in terms of another.
Positive output gap – When actual GDP exceeds potential GDP, creating inflationary pressure.
Interest rates – The cost of borrowing money or the reward for saving.
Long-run aggregate supply (LRAS) – The maximum productive potential of the economy when all resources are fully employed.
Keynesian model – The view that AD determines output and government intervention is often needed.
Exports – Goods and services sold abroad.
Demand-pull inflation – Inflation caused by excess demand in the economy.
Current account – Part of the balance of payments showing trade in goods/services and income flows.
Investment – Spending on capital goods that increase future production.
Nominal GDP – GDP measured at current market prices without adjusting for inflation.
Economic growth – An increase in the productive capacity of the economy, shown by a rise in real GDP.
Employment rate – The proportion of the working-age population in employment.
Frictional unemployment – Short-term unemployment when people move between jobs.
Government spending – Public expenditure on goods and services.
Injections – Additions to the circular flow (investment, government spending, exports).
Animal spirits – Consumer and business confidence affecting spending and investment decisions.
Multiplier effect – The process by which an initial change in spending leads to a larger change in GDP.
Negative output gap – When actual GDP is below potential GDP, creating unemployment.
Stagflation – Rising inflation combined with rising unemployment and stagnant growth.
Budget surplus – When tax revenue exceeds government spending.
Contractionary fiscal policy – Cutting government spending or raising taxes to reduce AD.
Consumer Price Index (CPI) – The main measure of inflation based on a basket of goods and services.
Withdrawals (leakages) – Removals from the circular flow (savings, taxes, imports).
Economic cycle – Fluctuations in economic activity over time (boom, recession, recovery, trough).
Structural unemployment – Unemployment caused by a mismatch of skills and job requirements.
Fiscal policy – Government use of taxation and spending to influence the economy.
GDP per capita – GDP divided by the population, indicating average living standards.
Cost-push inflation – Inflation caused by rising production costs.
Imports – Goods and services bought from abroad.
Expansionary fiscal policy – Increasing government spending or cutting taxes to boost AD.
Trough – The lowest point in the economic cycle before recovery.
Recovery – The phase after a recession where the economy begins to grow again.
Disinflation – A fall in the rate of inflation.
Depreciation – A fall in the value of a currency.
Productivity – Output per worker or per hour worked.
Budget deficit – When government spending exceeds tax revenue in a year.
Seasonal unemployment – Unemployment occurring at certain times of the year.
Classical model – The view that markets self-correct and the economy operates at full capacity in the long run.
Marginal propensity to save (MPS) – The proportion of extra income that is saved.
