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