GDP (Gross Domestic Product)
The total value of all goods and services produced in a country.
Real GDP
GDP adjusted for inflation.
Nominal GDP
GDP measured in current prices, not adjusted for inflation.
GDP Deflator
A price index that converts nominal GDP to real GDP.
CPI (Consumer Price Index)
A measure of the average change in prices consumers pay.
Core Inflation
Inflation excluding food and energy prices.
PPI (Producer Price Index)
Measures price changes from the perspective of producers.
Unemployment Rate
Percentage of the labor force without a job but seeking work.
Labor Force Participation Rate
The percentage of the population that is working or actively looking for work.
Frictional Unemployment
Temporary unemployment from job transitions or searching.
Structural Unemployment
Unemployment from mismatches between skills and job requirements.
Cyclical Unemployment
Unemployment caused by economic downturns.
Business Cycle
The pattern of economic expansion and contraction.
Fiscal Policy
Government decisions about spending and taxation.
Monetary Policy
Central bank actions to influence interest rates and money supply.
Federal Reserve
The U.S. central bank responsible for monetary policy.
Open Market Operations
Fed buying/selling government securities to influence interest rates.
Interest Rate
The cost of borrowing money.
Yield Curve
A graph showing interest rates across different bond maturities.
Exchange Rate
The price of one currency in terms of another.
Trade Surplus
Exports exceed imports.
Trade Deficit
Imports exceed exports.
