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Economic Activity

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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.  
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What is GDP per capita?   Another way to measure economic growth is by GDP per capita or output per person.  
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What is productivity?   The production output in relation to a unit of input, such as a worker.  
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What is the business cycle?   The movement of the economy from one condtion to another and back again.  
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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.  
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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.  
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What is depression?   A phase marked by a prolonged period of high unemployment, weak consumer sales, and business failures.  
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What is recovery?   A phase in which unemployment begins to decrease, demand for goods and services increases, and GDP begins to rise again.  
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What is stock?   Stock represents ownership in a corporation. Commonly called equity which means ownership.  
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What is a bond?   Represents debt for an ogranization.  
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