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21 Cards in this Set
- Front
- Back
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Capitalism
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Based on private ownership & production -the market determines success & failure
USA |
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Socialism
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Government Owns or controls some business & production
Europe |
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Communism
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Government owns & controls all business & production
China Cuba N. Korea |
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Prosperity
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indecators growing
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recession
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2 or more consecutive quarters of declining GDP
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Depression
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Deep long lasting recession
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Recovery
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indicators growing agian
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GNP & GDP
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The total output of a nations goods & services
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Consumer spending
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consumers confidence in the economy
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Inflation
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the increase in prices
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Consumer Price index
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The prices of a group of house hold items
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Stock market
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Dow Jones Industrial Average - 30 top companies
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Speculation
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Purchasing something in hopes that it will increase in value (quick profit)
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Bull market
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A period of rising stock prices
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Bear market
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A period of falling stock prices
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Buisness Employment Rate
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Invests in machines, equipment factories, etc...
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Federal Reserve Bank
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Issue currency & Loans (to banks)
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16th amendment
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income tax
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Deregulation
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Cutting back on Federal regulations (rules)
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Deficit Spending
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Spending more money than government receives in revenue
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NAFTA
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Free trade agreement -Free trade zones between Mexico, The US and Canada (no tariffs)
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