Money
function of money that allows the value of goods to be compared
measure of value
describes financial markets where prices are falling continuously
bear market
an individual or organization that owes money
debtor
total market value of all final goods and service produced within a country in a given period
GDP
decline of purchasing power of a given currency over time
inflation
function of money in which money is an asset that can be saved
store of value
an exceptionally risky bond
junk bond
a person or institution that gives another person or institution permission to borrow money intended to be repaid in the future
Creditor
inflation adjusted GDP
Real GDP
deflation
money with intrinsic value
Commodity
main advantage of a mutual fund
diversity of investment
total income going to the individual after taxes and bills are taken out
disposable personal income
breaks down a country's economic output per person
Real GDP per capita
characterized by a dramatic and sustained downturn in the economy lasting longer than three years or resulting in a drop of at least 10% GDP
Depression
legal money- declared money by gov decree
fiat
strong stock market
bull market
total income going to the individual consumer before taxes are taken out
personal income
civilian labor force
occurs when people are unemployed at particular times of year when demand for labor is lower than usual
Seasonal unemployment
a synonym for barter
trade
regular payments made to a person who worked a set number of years in a particular job
pension
allows you to save money for retirement in a tax advantaged way
IRA
at a given age represents the average number of years of life remaining if a group of persons at that age were to experience the mortality rates for a particular year over the course of their remaining life
life expectancy
component of overall unemployment that results directly from natural processes of economic upturn and downturn
cyclical unemployment