Term
|
Definition
| When government's budget spends more than available revenue |
|
|
Term
|
Definition
| When government's budget is lower than available revenue |
|
|
Term
|
Definition
| an economic indicator, as gross national product, that typically fluctuates in correlation with the total economy. |
|
|
Term
|
Definition
| One of the largest types of banks. Commercial Banks loan and transfer money, as well as make deposits. |
|
|
Term
|
Definition
| A type of bank where the members own a share of the bank. perform same tasks as Commercial Banks, but the more one deposits, the bigger share they own |
|
|
Term
|
Definition
| A type of inflation where the cost of production pushes up prices but demand remains the same. |
|
|
Term
|
Definition
| When business slows down; The negative slope on a Business Cycle between the peak and the trough |
|
|
Term
|
Definition
| Unemployment caused by fluctuations in the business cycle |
|
|
Term
| CPI (Consumer Price Index) |
|
Definition
| an index of the changes in the cost of goods and services to a typical consumer, based on the costs of the same goods and services at a base period. |
|
|
Term
|
Definition
| Government's policy of spending more money that it has in revenue on programs. |
|
|
Term
|
Definition
| The most debt the government is allowed to accumulate. This can be raised by Congress |
|
|
Term
|
Definition
| Government stimulation of the economy by increasing the aggregate demand |
|
|
Term
|
Definition
| The interest rate charged by the Federal Reserve to its member banks |
|
|
Term
|
Definition
| The stripping away of government regulations |
|
|
Term
|
Definition
| A long term recession; In the Business Cycle, a deep, long lasting trough. |
|
|
Term
|
Definition
| People that are apart of the work force but have stopped looking for work because of lack of work |
|
|
Term
|
Definition
| Opposite of inflation; When prices drop and the economy is damaged. |
|
|
Term
|
Definition
| A type of inflation where the demand for a product pulls the prices up |
|
|
Term
|
Definition
| A tax on certain manufactured goods, usually luxury items |
|
|
Term
|
Definition
| A tax on the assets of one who is deceased |
|
|
Term
|
Definition
| A policy where government pushes money out into the economy to stimulate growth. Is generally used during Expansion on the Business Cycle |
|
|
Term
|
Definition
| When business grows; A growth in economy; On the Business Cycle, the positive slope going from a trough to a peak. |
|
|
Term
|
Definition
| The Governments spending plan for the fiscal year. |
|
|
Term
|
Definition
| 12 month financial period, not always matching to the calender year. |
|
|
Term
|
Definition
| The policies on spending, taxing, and borrowing money. |
|
|
Term
| Federal Reserve System (FED) |
|
Definition
| The central bank of America; The bank for banks and government. |
|
|
Term
|
Definition
| The old monetary system of the United States and much of the rest of the world where all currency was backed by an equal amount in gold. |
|
|
Term
|
Definition
| Rules imposed by the government, usually on businesses and programs to keep them from cheating the economy |
|
|
Term
| GDP (Gross Domestic Product) |
|
Definition
| the total value of all goods and services produced domestically by a nation during a year. It is equivalent to gross national product minus net investment incomes from foreign nations |
|
|
Term
|
Definition
|
|
Term
|
Definition
| The increase in the average price of general products |
|
|
Term
|
Definition
| The difference in income between social classes; The amount of income inequality |
|
|
Term
|
Definition
| data that reflect current economic conditions and can suggest future developments or fluctuations in the nation's economy: issued, usually monthly, by the U.S. Bureau of Economic Analysis in the commerce Department. |
|
|
Term
|
Definition
| A measurable economic factor that changes after the economy has already begun to follow a particular pattern or trend. |
|
|
Term
|
Definition
| The measure of how much each worker is producing |
|
|
Term
|
Definition
| Government's plan to influence the economy by expanding and contracting the money supply |
|
|
Term
|
Definition
| The study of whole economies |
|
|
Term
| Marginally Attached Workers |
|
Definition
| People of the work force who once held a job but have since given up on work |
|
|
Term
|
Definition
| The total deficit over the years |
|
|
Term
|
Definition
| The GDP before being adjusted for inflation |
|
|
Term
|
Definition
| Interest rate charge by banks to their best costumers |
|
|
Term
|
Definition
| The process of moving a government (public) program to private management. |
|
|
Term
|
Definition
| Highest point of economic growth before the economy slows down; On a Business Cycle, the high point between expansion and contraction |
|
|
Term
| Personal Consumption Expenditures |
|
Definition
|
|
Term
|
Definition
| A way to measure inflation. Examples are the CPI (consumer) PPI (producer) RPI (retail) and FPI (farmer) |
|
|
Term
|
Definition
| Income line between poverty and middle class. |
|
|
Term
|
Definition
| The percent of people living in poverty |
|
|
Term
|
Definition
| When a decrease in the GDP lasts for 6 months; In the Business Cycle, it is a small trough. |
|
|
Term
|
Definition
| National GDP after being adjusted for inflation |
|
|
Term
|
Definition
| A measure of the total output of a country that takes the gross domestic product (GDP) and divides it by the number of people in the country. The per capita GDP is especially useful when comparing one country to another because it shows the relative performance of the countries. A rise in per capita GDP signals growth in the economy and tends to translate as an increase in productivity. |
|
|
Term
|
Definition
| The believe that if you raise the supply of a product, the demand will raise as well, stimulating the economy. |
|
|
Term
|
Definition
| A type of bank that focuses primarily on saving and loaning money. |
|
|
Term
|
Definition
| When a worker is unemployed because his job is only available during certain seasons, but will return to that job during the next season it is available. (i.e. forest fire fighters) |
|
|
Term
|
Definition
| Tax Breaks given to companies so they can use the money to expand and create more jobs. |
|
|
Term
|
Definition
| Money paid by an individual or company to the government. There are many kinds of taxes, including income tax, sales tax, and property tax. |
|
|
Term
|
Definition
| The percentage of an individual's or companies revenue (income) goes to taxes |
|
|
Term
|
Definition
| The governmental policy of taking money out of circulation, making money more difficult to get but worth more. Generally used in the contraction stage of the business cycle. |
|
|
Term
|
Definition
| When the economy is at the lowest level before raising up again; The section of the Business Cycle between contraction and expansion |
|
|
Term
|
Definition
| The percent of people in the work force who are unemployed |
|
|
Term
|
Definition
| When a worker is over qualified for a job |
|
|
