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9 Cards in this Set

  • Front
  • Back
Economics
The study of choices
Macroeconomics
Deals with broad issues that impact the economy as a whole
Microeconomics
Focuses on the study of individual choices or decisions made by smaller units, such as a firm
Demographics
The study of human populations
The baby boom period
A period of very high birth rates that occurred between 1946 and 1964
Gross domestic product(GDP)
The total dollar amount of all final goods and services purchased in a given year
Recession
A period of time in which the economy is shrinking
Depression
A severe recession
Business cycle
Alternating periods of shrinking, and growth, or expansion