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