Term
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Definition
| The ability to purchase goods and services |
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Term
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Definition
| A declinr in real GDP combined with a rise in the price level |
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Term
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Definition
| the income level below which income is insifficient to support a family or household |
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Term
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Definition
| A period of macro economic expansion followed by a period of contraction |
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Term
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Definition
| A period of economic decline marked by falling GDP |
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Term
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Definition
| Inflation that is out of control |
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Term
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Definition
| working at a job for which one is overqualified, working part-time when full-time work is desired |
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Term
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Definition
| a sustained drop in the price level |
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Term
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Definition
| a prolonged economic contraction |
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Term
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Definition
A program requiring work in exchange for temporary asistance
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Term
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Definition
| A person who wants a job but has given up looking |
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Term
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Definition
| Unemployment that occurs as a result of harvest scheduals or vacations or when industries slow or shut down for aseason |
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Term
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Definition
| process of increasing the amout of capital per worker |
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Term
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Definition
| unemployment rate that rises during economic downturns and falls when the economy improves |
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Term
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Definition
| A recession that is especially long and severe |
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Term
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Definition
| The annual income earned by U.S. owned firms and |
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Term
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Definition
| The height of an economic expansion, when real GDP stops rising |
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Term
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Definition
| Period of economic growth as measured by a rise in real GDP |
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Term
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Definition
| the lowest point in an economic contrction, whrn real GDP stops falling |
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Term
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Definition
| Dollar value of all final goods and services produced within s country's borders in a given year |
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