Absolute (Money) Price

Full Employment The condition that
exists when the unemployment rate is equal
to the natural unemployment rate.
Futures contract An agreement to buy
or sell a specific amount of something (a
commodity, a currency, a financial instrument) at an agreed-on price on a stipulated
future date.
G
Game Theory A mathematical technique
used to analyze the behavior of decision
makers who try to reach an optimal position
for themselves through game playing or the
use of strategic behavior, who are fully aware
of the interactive nature of the process at
hand and who anticipate the moves of other
decision makers.
Gini Coefficient A measure of the degree
of inequality in the income distribution.
Globalization A phenomenon by which
economic agents in any given part of the
world are more affected by events elsewhere
in the world than before; the growing
integration of the national economies of
the world to the degree that we may be
witnessing the emergence and operation of a
single worldwide economy.
Good Anything from which individuals
receive utility or satisfaction.
Government Purchases Federal,
state, and local government purchases of
goods and services and gross investment in
highways, bridges, and so on.
Government Spending Multiplier The
number that, when multiplied by the change
in government spending, gives us the change
in total spending (and, if prices are constant,
the change in Real GDP).