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