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12 Cards in this Set
- Front
- Back
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GDP
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one of most important indictators of the states of an economy
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standard of living
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levalof materal comfort as mesurd by the goods and services that are avaiable
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inflation
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a genaral increase of goods and services
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deflation
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a genaral decraseof goods and services
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buget deficit
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goverment spends more on programs than it collects intaxs
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natinal debt
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the total amount of the goverment owns
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budet serplus
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revenus expenditures during a 1 year period
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busines cycle
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the rises and fall of economic activity over time
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prosparity
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a peak of economic activity
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recession
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economic activity slow down
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depression
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a deep recesion that affects the entire economy and lasts for 7 years
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recovery
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rise in busness activity after a recession ar depretion
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