| Question |
Answer |
| What is GDP? |
Gross domestic product is the total dollar value of all final goods and services produced in a country during one year. |
| What is GDP per capita? |
Another way to measure economic growth is by GDP per capita or output per person. |
| What is productivity? |
The production output in relation to a unit of input, such as a worker. |
| What is the business cycle? |
The movement of the economy from one condtion to another and back again. |
| What is prosperity? |
A period that people who want to work are working, businesses produce goods and services in record numbers, wages are good, and the rate of GDP growth increases. |
| What is recession? |
Recession is a period of time in which demand begins to decrease, businesses lower production, unemployment begins to rise, and GDP slows. |
| What is depression? |
A phase marked by a prolonged period of high unemployment, weak consumer sales, and business failures. |
| What is recovery? |
A phase in which unemployment begins to decrease, demand for goods and services increases, and GDP begins to rise again. |
| What is stock? |
Stock represents ownership in a corporation. Commonly called equity which means ownership. |
| What is a bond? |
Represents debt for an ogranization. |
Cardio Block2anatomy
