Key to the Concept
Economic Review Mission
Key Economic Ideas and Concepts
Welcome to Econoland, population 5 million. You and your team are the newly hired Junior Economic Advisors.
The Prime Minister has invited you for a “casual” meeting… Translation: you have 45 minutes to analyse the situation, answer questions and propose ideas before the PM announces policies live on TV. No pressure.
Population5,000,000Nominal GDP$250 billionUnemployment rate6%Inflation rate3%Exports$80 billionImports$90 billion
Complete each task on your whiteboard table. Your teacher will give you the key word when your answer is approved.
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