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21 Cards in this Set

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