ch. 2 terms
Terms
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- Bond
- debt for an organization
- Business Cycle
- Movement of economy from one condition to another and back again
- Deflation
- a decrease in the general level of prices
- Recovery
- the phase in which unemployment begins to decrease
- Price Index
- a number in that compares prices in one year with some earlier base year
- Prosperity
- a period in which most people who want to work are working
- Personal Income
- refers to salaries and wages as well as investment income and government payments to individuals
- Capital projects
- spending by businesses for items (land, buildings, and equipments)
- Inflation
- an increase in the general level of prices
- Recession
- a period in which demand begins to decrease
- Stock
- ownership in a corporation
- Budget Surplus
- When a government spends less than it takes in
- GDP per capita
- output per person
- Productivity
- the production output per worker
- Retail Sales
- the sales of durable and nondurable goods bought by consumers
- Depression
- a phase marked by prolonged period of high unemployment, weak consumer sales, and business failures
- National Debt
- Total amountn owed by the federal government
- Unemployment Rate
- one economic statistic of concern
- Budget Deficit
- When a government spends more than it takes in
- Gross Domestic Product
- Is the total dollar value of all final goods and services produced in a country during one year