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