Term
| Gross Domestic Product (GDP) |
|
Definition
| is the total dollar value of all final goods and services produced in a country during one year. |
|
|
Term
| GDP Per capita (output per person) |
|
Definition
A way to measure economic growth.
[dividing GDP by total population] |
|
|
Term
|
Definition
| how many people in the labor force who are not working. |
|
|
Term
|
Definition
| output in relation to a unit of input (workers) |
|
|
Term
|
Definition
| salaries and wages as well as investment income and government payments to individuals. |
|
|
Term
|
Definition
| sales of durable and nondurable goods bought by consumers. |
|
|
Term
|
Definition
| A movement of economy from one condition to another and back around again. (Are the recurring ups and downs of GDP) |
|
|
Term
| What are the Business Cycle Phases? |
|
Definition
| Prosperity, recession, depression, and recovery. |
|
|
Term
|
Definition
| Is when the Business cycle is at its peak. Everyone who wants to work is working. Businesses are producing goods and services money is good and GDP is increasing |
|
|
Term
|
Definition
| When economy slows down. (Demands decrease, businesses lower production, unemployment increases, and GDP slows for 2 or more quarters of calendar. |
|
|
Term
|
Definition
| high unemployment, weak consumers sales, and business failures. GDP is falling fast. |
|
|
Term
|
Definition
| Unemployment starts to decrease, Demands for goods and services increase, and GDP starts to rise again. |
|
|
Term
|
Definition
|
|
Term
|
Definition
| A number that compares prices in one year with some earlier based year. |
|
|
Term
|
Definition
| Prices go down. Usually happens in Recession and depression. |
|
|
Term
|
Definition
| Is the rate banks make available to their best business customers. (large corporations) |
|
|
Term
|
Definition
| Rate financial institutions(bank) are charged to borrow funds from federal reserve banks (mother of all banks). |
|
|
Term
|
Definition
| short term For the government |
|
|
Term
|
Definition
| Long term government debt obligations. |
|
|
Term
|
Definition
| Money borrowed for a house. |
|
|
Term
|
Definition
| cost of borrowing for large U.S. corporation |
|
|
Term
| certificate of deposit bond rate. |
|
Definition
When u let bank borrow money from you by bond and interest higher.
(rate for six-month time deposits at saving institution) |
|
|
Term
|
Definition
| Is when businesses spend money that will be used for a long time. |
|
|
Term
|
Definition
| when businesses are spending money on land, buildings, equipment, and new products. |
|
|
Term
| What are the three main sources that money comes from. |
|
Definition
| Personal Saving, Stock investments, Bonds. |
|
|
Term
|
Definition
Represents ownership om a corporation
(equity = ownership) |
|
|
Term
|
Definition
|
|
Term
|
Definition
| happens when a government spends less than it takes. |
|
|
Term
|
Definition
| When a government spends more then it takes in. |
|
|
Term
|
Definition
| Total amount owed by the federal government |
|
|
Term
|
Definition
| Most companies use debt at times |
|
|
