Topic 2.1
All people over age 16 who are working or actively looking for work.
What is the Labor Force?
The deepening recession that spreads throughout the entire economy (worst part of the business cycle).
What is depression?
True or False - if you own some part of a company's stock/shares, you own a part of the company.
What is true?
The total value of all final goods and services produced in a country during one year.
What is gross domestic product (GDP)?
The cost of money.
What is interest rate?
Equity refers to:
a. reduced spending by government
b. borrowing to finance a capital project
c. ownership in a company
What is answer C?
True or False - a main source of personal income are government payments.
What is true?
The cause of inflation.
What is when demand for goods/services is greater than supply?
The cause of a budget deficit.
What is when a government or organization spends more than it takes in?