Banking/Stock Market
The safest form of investment that offers a low-interest rate.
Savings Account
The amount of a good or service suppliers are willing to produce
Supply
The total value of all goods and services produced in a country in a specific period of time
GDP
The highest point of economic growth.
Peak
A tax on imports
The agency governs the supply of money and interest rates in an economy in order to influence output, employment, and prices.
Monetary Policy
When Supply and Demand are equal
Equilibrium
The total dollar amount of all goods and services produced using a country's labor
GNP
Which economic indicator does the business cycle register?
GDP
A limit on imports
Quota
The largest electronic stock exchange
NASDAQ
As the price decreases the demand increases. An indirect relationship
Law of Demand
The percentage of unemployed workers in the total labor force.
Unemployment Rate
The lowest point of the business cycle
Trough
Giving something up to obtain something else
Opportunity Cost
The central bank of the United States which financial institutions
Federal Reserve
When produces make too much of something
Surplus
The general increase in the price of something
Inflation
A decline in economic growth for more than 6 months
Depression
When a country imports more than it exports
Trade Deficit
A stock market index that measures the stock performance of 500 large companies listed on stock exchanges in the United States.
Standard and Poor's
As the price of a good or service increases, the quantity of goods or services that suppliers offer will increase, and vice versa.
Law of Supply
Measures the costs over goods and services and reports them each year. This is used to measure the rate of inflation.
Consumer Price Index
The entire period of growth in the business cycle
Expansion
When a country can produce a good at a lower cost than another country
Absolute Advantage