The total dollar value of all final goods and services produced in a country during one year.
What is gross domestic product (GDP)
100
The sales of durable and non durable goods bought by consumers.
What are retail sales?
100
The phase in which unemployment begins to decrease, demand for goods and services increases, and GDP begins to rise again.
What is recovery?
100
Involves spending by businesses for items such as land, buildings, equipment, and new products.
What are capital projects?
100
When a government spends less than it takes in.
What is a budget surplus?
200
Output per person
What is GDP per capita?
200
Movement of the economy from one condition to another and back again.
What is a business cycle?
200
Means an increase in general prices
What is inflation?
200
Represents ownership in a corporation.
What is a stock?
200
When a government spends more than it takes in.
What is s budget deficit?
300
The portion of people in the labor force who are not working.
What is unemployment rate?
300
A period in which most people who want to work are working, businesses produce goods and services in record numbers, wages are good, and the rate of GDP growth increases.
What is prosperity?
300
A number that compares prices in one year with some earlier base year.
What is a price index?
300
Represents debt for an organization.
What is a bond?
300
A person who purchases a corporate or government bond.
What is a creditor?
400
The production output in relation to a unit of input.
What is productivity?
400
A period in which demand begins to decrease, businesses lower production, unemployment begins to rise, and GDP growth slows for two or more quarters.
What is recession?
400
When a government spends more than it takes in.
What is deflation?
400
To buy now and pay later.
What is borrowing?
400
Sources such as personal savings, stock investments, and bonds.
What are the main sources of money used for capital projects?
500
Refers to salaries and wages as well as investment income and government payment to individuals.
What is personal income?
500
A phase marked by a prolonged period of high unemployment, weak consumer sales, and business failures.
What is depression?
500
Represents the cost of money
What are interest rates?
500
Money spent by a business for an item that will be used over a long period.