(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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Inflation – A sustained increase in the general price level.
Economic cycle – Fluctuations in economic activity over time (boom, recession, recovery, trough).
Stagflation – Rising inflation combined with rising unemployment and stagnant growth.
Circular flow of income – The movement of money between households, firms, government and abroad.
Marginal propensity to consume (MPC) – The proportion of extra income that is spent.
Depreciation – A fall in the value of a currency.
Long-run aggregate supply (LRAS) – The maximum productive potential of the economy when all resources are fully employed.
Employment rate – The proportion of the working-age population in employment.
Withdrawals (leakages) – Removals from the circular flow (savings, taxes, imports).
Contractionary fiscal policy – Cutting government spending or raising taxes to reduce AD.
Imports – Goods and services bought from abroad.
Negative output gap – When actual GDP is below potential GDP, creating unemployment.
Trough – The lowest point in the economic cycle before recovery.
Balance of payments – A record of all financial transactions between a country and the rest of the world.
Boom – A period of rapid economic growth and rising incomes.
Marginal propensity to save (MPS) – The proportion of extra income that is saved.
Nominal GDP – GDP measured at current market prices without adjusting for inflation.
Recession – Two consecutive quarters of negative economic growth.
Recovery – The phase after a recession where the economy begins to grow again.
Expansionary fiscal policy – Increasing government spending or cutting taxes to boost AD.
Positive output gap – When actual GDP exceeds potential GDP, creating inflationary pressure.
Current account – Part of the balance of payments showing trade in goods/services and income flows.
Demand-pull inflation – Inflation caused by excess demand in the economy.
Classical model – The view that markets self-correct and the economy operates at full capacity in the long run.
Aggregate demand (AD) – The total demand for goods and services in an economy at a given price level and time.
Keynesian model – The view that AD determines output and government intervention is often needed.
Exports – Goods and services sold abroad.
Government spending – Public expenditure on goods and services.
Cyclical unemployment – Unemployment caused by a lack of demand during a recession.
Structural unemployment – Unemployment caused by a mismatch of skills and job requirements.
Real GDP – GDP adjusted for inflation.
Investment – Spending on capital goods that increase future production.
Disinflation – A fall in the rate of inflation.
National debt – The total accumulation of past government borrowing.
Gross Domestic Product (GDP) – The total monetary value of all final goods and services produced within a country in a year.
Frictional unemployment – Short-term unemployment when people move between jobs.
Consumer Price Index (CPI) – The main measure of inflation based on a basket of goods and services.
Seasonal unemployment – Unemployment occurring at certain times of the year.
GDP per capita – GDP divided by the population, indicating average living standards.
Exchange rate – The price of one currency in terms of another.
Deflation – A sustained fall in the general price level.
Economic growth – An increase in the productive capacity of the economy, shown by a rise in real GDP.
Savings – Income not spent on consumption.
Budget deficit – When government spending exceeds tax revenue in a year.
Interest rates – The cost of borrowing money or the reward for saving.
Productivity – Output per worker or per hour worked.
Short-run aggregate supply (SRAS) – The relationship between price level and output when wages and some costs are fixed.
Multiplier effect – The process by which an initial change in spending leads to a larger change in GDP.
Monetary policy – Central bank control of interest rates and money supply to influence the economy.
Retail Price Index (RPI) – An older measure of inflation including housing costs.
Fiscal policy – Government use of taxation and spending to influence the economy.
Budget surplus – When tax revenue exceeds government spending.
Injections – Additions to the circular flow (investment, government spending, exports).
Cost-push inflation – Inflation caused by rising production costs.
Appreciation – A rise in the value of a currency.
Unemployment – When people willing and able to work cannot find a job.
Animal spirits – Consumer and business confidence affecting spending and investment decisions.
