1
GDP divided by the total population of a country.
GDP Per Capita
Movement of an Economy from one condition to another and back again.
Business Cycle
Phase in which unemployment decreases, demand for goods & services increases, & GDP begins to rise.
Recovery
Spending by businesses for items such as land, buildings, and equipment.
Capital Project
T/F GDP Per Capita compares prices in one year with prices in some earlier base year.
False- Consumer price index
An increase in the general price level
Inflation
Period in which demand, production, & GDP growth decrease & unemployment begins to rise.
Recession
Sales of durable & non-durable goods bought by consumers
Retail Sales
Government spends more than it takes in.
Budget Deficit
T/F Bonds represents debt for an organization.
TRUE
Represents ownership in a corporation.
Stock
A decrease in the general price level
Deflation
Total value of all final goods and services produced in a country in one year
Gross Domestic Product (GDP)
compares prices in one year with prices in some earlier base year
Consumer price index
What is the best science fiction movie franchise?
Star Wars
Government spends less than it takes in.
Budget Surplus
Phase marked by a long period of high unemployment, weak consumer sales, and business failures.
Depression
Salaries & Wages as well investment income & government payment to individuals.
Personal Income
What is the US current employment rate discussed during class?
3.7%
Ch 4 - Goods and services purchased from other countries?
Imports
Total amount owed by federal government.
National Debt
Represents debt for an organization
Bond
Period in which unemployment is low, businesses produce many goods and services, and wages are good.
Prosperity
What makes up the labor force?
Over 16 working or looking
Chp 4 -Goods and services sold to other countries?
Exports