Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
22 Cards in this Set
- Front
- Back
|
Barter |
The direct exchange of one set of goods or services for another |
|
|
Budget Deficit |
A situation where the government spends more than it takes |
|
|
70/20/10 |
70% living expenses , 20% savings, 10% for paying debt |
|
|
Census |
An official count of of the population |
|
|
Comparative Advantage |
Ability to produce a product most efficiently given all the other things that could be produced |
|
|
Consumer Price Index |
A price index determined by measuring the price of a standard set of goods. |
|
|
Corporation |
A legal entity owned by individual stockholders |
|
|
Contraction |
A period of economic decline |
|
|
Cyclical Unemployment |
Unemployment that rises during economic deconturns and falls when the economy improves |
|
|
Depression |
Recession that is long and severe |
|
|
Dow Jones Index |
Index that shows how certain stocks have traded |
|
|
Decrability |
When goods last a long |
|
|
Entitlements |
Social welfare programs for those who meet certain requirements |
|
|
Embargoes |
Stoppage of trade |
|
|
Expansion |
A period of economic growth as measured by a rise in real GDP |
|
|
Exports |
Good sent to another country for sale |
|
|
Federal Reserve Bank |
Nation's central banking system |
|
|
FDIC |
Govt. agency that insures deposits |
|
|
FICA |
Taxes that Fu d Social Security and Medicare |
|
|
IMF |
Organization formed to stabilize international exchange rates and help development |
|
|
Import |
Good that us brought in from another country from sale |
|
|
Interest |
The price paid for borrowed money |
