(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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Describe frictional unemployment.
Provide an example of demand-pull inflation.
Define labour force.
Explain the net exports component of GDP.
Explain why inflation might be high in the current economic environment.
Explain the concept of opportunity cost.
What causes structural unemployment?
What is the inflation target rate?
Provide an example of cost-push inflation.
Explain the concept of leakages in the circular flow of income.
What is likely to occur to inflation when there is an increase in economic activity?
What is the Consumer Price Index (CPI)?
What does it mean if an economy is producing inside the PPF?
Why is environmental degradation a limitation of GDP?
What happens to economic activity if leakages exceeds injections?
List three limitations of GDP as a measure of growth.
What is the formula for the rate of growth of GDP?
What is the GDP growth target rate for Australia?
Define unemployment.
What does it mean if an economy is producing inside the PPF?
What are leakages in the circular flow of income?
How is someone classified as employed?
What is the role of financial sector in the circular flow of income?
Define inflation.
How does inflation affect purchasing power?
How can economic growth be shown on a PPF?
What is the target rate for unemployment?
How does unemployment affect economic growth?
What is the role of government sector in the circular flow of income?
Explain cyclical unemployment.
How can economic growth be shown on a PPF?
What are the components of GDP?
What causes cost-push inflation?
How can technological advancements shift the PPF?
What does a point outside the PPF represent?
What is likely to occur to unemployment when there is an increase in economic activity?
Why does GDP not account for income inequality?
Define GDP.
What causes demand-pull inflation?
What is the formula for the unemployment rate?
Who is considered not in the labor force?
What are injections in the circular flow of income?
What does a point on the PPF represent?
How do households contribute to the circular flow of income?
What happens to economic activity if injections exceeds leakages?
What are the factors of production?
Define economic growth.
Describe the interaction between households and firms in the circular flow of income.