Sales of durable and nondurable goods bought by consumers
What is Retail sales?
100
Phase in which unemployment begins to decrease, demand for goods and services increases, and GDP begins to rise again, people gain employment and consumers regain confidence about their futures and begin buying again
What is Recovery?
100
Production output in relation to a unit of input, such as a worker
What is Productivity?
100
Investment Activities
What are Capital projects, personal savings, the stock market, and the bond market?
100
An increase in the general level of prices; the buying power of the dollar decreases
What is Inflation?
200
Salaries and wages as well as investment income and government payments to individuals
What is Personal Income?
200
Movement of the economy from one condition to another and back again
What is the Business Cycle?
200
Number that compares prices in one year with some earlier base year
What is Price Index?
200
Labor Activities
What are Employment and Productivity?
200
The total dollar value of all final goods and services produce in a country during one year
What is Gross Domestic Product?
300
Represents ownership in a corporation
What is Stock?
300
Period in which demand begins to decrease, businesses lower production, unemployment begins to rise, and GDP growth slows for two or more quarters of the calendar year
What is Recession?
300
Government spends more than it takes in
What is Budget Deficit?
300
Economic activities that measure GDP
What is Consumer spending, Business spending, Government spending, and Exports minus Imports?
300
Government spends less than it takes in; government may reduce taxes or increase spending or increase spending on various programs
What is Budget Surplus?
400
Money spent by a business for an item that will be used over a long period of time
What is Capital Spending?
400
Peak of the business cycle; period in which most people want to work are working, businesses produce goods and services in record numbers, wages are good, and the rate of GDP growth increases, and demand for goods and services is high
What is Prosperity?
400
Total amount owed by the federal government
What is National Debt?
400
Measured to determine the condition of an economy
What is Economic Activities?
400
Involve spending by businesses for items such as land, buildings, equipment, and new products; money for these projects come from personal savings, stock investments, and bonds
What is Capital Projects?
500
Represents debt for an organization
What is a Bond?
500
Period marked by a prolonged period of high umemployment, weak consumer sales, and business failures
What is Depression?
500
Another way to measure economic growth; output per person; calculated by dividing GDP by the total population
What is GDP per capita?
500
The four phases of the business cycle
What is Prosperity, Recession, Depression, and Recovery?