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24 Cards in this Set
- Front
- Back
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Gross Domestic Product |
The total market value of all goods and services produced within a country within a years time. |
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Fiscal policy |
One element of the U.S. economic policy |
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Inflation |
An increase in the amount of money that causes an increase in prices |
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definition of labor |
work |
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Leading indicators |
Components of the economy that change before the rest of the economy |
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Monetary policy |
Another element of the U.S. economic policy involves money |
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Mutual funds |
A professionally managed portfolio make up of stocks, bonds, and other investments |
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2 examples of leading indicators |
gas prices, retail sales, stock market |
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4 types of retirement accounts |
401K, IRA, Roth IRA, and KEOUGH |
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Business cycle |
The up and down activity of the economy. The bust/boom cylce |
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Capital gains |
profits from the sale of a capital asset such as stocks, bonds, or real estate |
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Consumer Price Index (CPI) |
the measure of the average price of consumer goods and services purchased by households |
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Creditor |
The lender of money or capital |
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Debtor |
A borrower of money or capital |
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Dividends |
Company profits divided among stock holders |
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Federal debt |
The term for the accumulated deficits, or total indebtness of the Federal government |
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Federal deficit |
When the government spending exceeds income in a year |
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Treasury Cabinet/department |
The cabinet department most involved with Federal economic policy |
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The premises of Civil or Roman Law |
There are no higer law than government |
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Two fundamental laws |
Do all you have agreed to do and do not encroach on other's property |
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What do people do when they no longer trust the country's currency? |
The citizens of a country will switch over to a different country's currerncy or trade goods |
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What did Richard Maybury say about the economic properity and what is it tied to? |
It is tied to the legal system |
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What did Richard Maybury say about economics and law? |
It is directly responsible for economic prosperity and individual liberty. |
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Who did Richard Maybury say was the grantor of life, freedom, and properity? |
God |
