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Intro to Macroeconomics - Coggle Diagram

- - - - increase in national output
    - - increase in the productive capacity
        of the economy
  - - - value of g&s produced within the geographical boundries
    - - monetary value of g&s produced by the residents of a country over a year
  - - - Real GDP = nominal GDP*price index in base year/price index in current year
    - - Real GDP per head = real GDP/population size
- - - - the number of people who are actively looking for work, but are without a job
      - resources are not fully utilized, economy producing below the optimal output level
  - - - increase in the number of youths unemployed
      - decrease in the size of labour force due to demographic changes, decrease in the youth labour force possibly because of youth migration
    - - decrease in the number of youths unemployed
      - increase in the size of the labour forse due to the demographic changes, more youth joining the labour force as they graduate
- - - - sustained increase in GPL
    - - sustained decrease in GPL
  - - - price level of g&s purchased by an average household wrt a base year
      - percentage increase in CPI from the previous year
    - - rate of change in prices