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vocab 2-1
vocab 2-2
chapter 2 assessments
100
goods bought by consumers
What is Retail sales
100
increase in the general level of prices.
What is Inflation
100
a. taxes collected
Retail sales include... a. taxes collected b. companies buying new equipment c.borrowing by business d. school supplies bought by students
200
the portion of people in the labor force who are not working.
What is Unemployment rate
200
ups and downs of GDP.
What is Business cycle
200
True.
True or False. When consumers increase their borrowing, interest rates tend to decline?
300
is calculated by dividing GDP by the total population.
What is GDP per capita
300
a number that compares prices in one year with some earlier base year.
What is Price index
400
salaries and wages.
What is Personal Income
400
demand begins to decrease.
What is Recession
500
is the production output in relation to a unit of input.
What is Productivity
500
is the phase of the beginning of unemployment to decrease
What is Recovery