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