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