Business Cycle
Vocab
Trade
Gov't Regulation
100
Growth is seen in the economy
What is expansion
100
a tax on items imported to a nation from another.
What is tariff
100
limit on exchange of goods between political boundaries
What is trade barrier
100
Example: the EEOC has made laws that no woman or man cannot be hired because of a physical handicap.
What is protecting workers.
200
the economy is at its strongest
What is peak
200
predicts future economic growth, ex. # of building permits
What is leading indicator
200
Example: the FDA approves of a new medicine to treat cancer
What is Protecting Consumers
300
the economic growth slows
What is contraction
300
tells the current condition of the economy, ex. income increase
What is coincident indicators
300
a reduction or abolishment of any tariffs between two or more nations
What is free trade
300
protecting workers, protecting consumers, limiting negative side effects, encouraging competition, private property supervision (are forms of what)
What is government regulation
400
an extended slow rate in the economy, painfully slow
What is depression
400
explains how long a trend will last in the current economy, ex. applications for new business then when those business actually open.
What is lagging indicators
400
a trade agreement between the United States, Canada, and Mexico to remove trade barriers.
What is NAFTA: North American Free Trade Agreement
400
economic policy used by the Fed to increase the flow of money, creating more supply and demand thus growing the economy
What is easy money policy
500
investing, flow of money and credit, public opinion, international events
What is the 5 factors affecting the business cycle
500
interconnected marketplace, unhampered by time zones, political boundaries and geography due to technology.
What is globalization
500
reciprocal trade, regional trade and international trade agreements (are forms of )
What is international cooperation
500
this economic policy used by the Fed to slow economic growth by shortening the supply of money
What is tight money policy
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