Gross Domestic Product: Is the total dollar value of all final gods and services produced in a country during one year
What is Gross Domestic Product?
100
Retail sales: Or the sales of durable and nondurable goods bought by consumers
What is Retail sales?
100
Capital projects: involve spending by businesses for items such as land, buildings, equipment, and new products
What is Capital projects?
100
National debt: the total amount owed by the fedreal government
What is National debt?
100
True or false. Deflation results in lower buying power of money
What is True?
200
GDP per capita: Also another way to measure economic growth, or output per person
What is GDP per capita?
200
Recovery: The phase in which unemployment begins to decrease, demand for goods and services increases, and gdp begins to rise again
What is Recovery?
200
Stock: represents ownership in a corporation
What is Stock?
200
The phrase of the business cycle in which unemployment is highest is
a. Recession
b. Recovery
c. Prosperity
d. Depression
What is Depression?
200
True or false. When consumers increase their borrowing, interest rates tend to decline
What is False?
300
Unemployment rate: The portion of people in the labor force who are not working
What is Unemployment rate?
300
Inflation: an increase in the general level of prices
What is Inflation?
300
Bond: represents debt for an organization
What is Bond?
300
Which of the following would not be included in GDP?
e. Exports to other countries
f. Purchases of computers by government
g. Automobiles purchased
h. Dinner preparation for your family
What is Dinner preparation for your family?
300
Equity refers to
e. Reduced spending by government
f. Ownership in a company or other asset
g. Borrowing to finance a capital project
h. Increased government taxes
What is Increased government taxes?
400
Productivity: Is the production output in relation to a unit of input, such as a worker
What is Productivity?
400
Price index: A number that compares prices in one year with some earlier base years
What is Price index?
400
Budget surplus: when a government spends less than it takes in
What is Budget surplus?
400
Productivity would likely increase as a result of
e. Higher taxes
f. Expanded production technology
g. Decreased training programs
h. Lower government spending
What is Expanded production technology?
400
Which of the following most likely cause a budget surplus for government?
e. Higher spending
f. Lower spending
g. Higher borrowing
h. Lower taxes
What is Higher spending?
500
Personal income: Refers to salaries and wages as well as investment income and government payments to individuals
What is Personal income?
500
Deflation: a decrease in the general level of prices
What is Deflation?
500
Budget deficit: when a government may spend more than it takes in
What is Budget deficit?
500
Retail sales include
e. Taxes collected
f. Companies buying new equipment
g. Borrowing by business
h. School supplies bought by
What is Companies buying new equipment?
500
How do intrest rates affect our economy?
it creates a strong influence on business activties