Show:
US's Major Shifts
How to Measure US's Economy
Business Cycle
Chapter 4
100
1600's was based on what economy?
Service based economy
100
Spending more money than it collects?
A. Inflation B. Standard of Living C. Budget Deficit D. Gross Domestic Product
100
Prosperity, Recession, Depression, Recovery
What are the four stages of the business cycle?
100
_______ occurs when Gifts, Money, Favors are offered
What is Bribery
200
Mid 1850's was what economy?
Industry based economy
200
Decrease in prices when supply of goods is greater than the demand.
What is deflation
200
A deep recession that effects the entire economy
what is depression
300
1900's was based on what economy?
Information based economy
300
general increase in prices of goods/ services
What is inflation
300
recovery
What is after the depression
400
1700's was based on what economy?
agriculture based economy
400
What means Spending less money that it collects?
Budget Surplus