General Business - Chapter 2 - Economic Activity
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| What is the total dollar value of all final goods and services produced in a country during one year? | GDP | ||||
| What is GDP? | Gross Domestic Product | ||||
| What is the output per person? | GDP Per Capita | ||||
| What is the portion of people in the labor force who are not working? | Unemployment Rate | ||||
| What is the production output in relation to a unit of input, such as a worker? | Productivity | ||||
| What refers to salaries and wages as well as investment income and government payments to individuals? | Personal Income | ||||
| What is the sales of durable and nondurable goods brought by consumers? | Retail Sales | ||||
| What is the movement of the economy from one condition to another and back again? | Business Cycle | ||||
| What is a period in which most people who want to work are working, business produce goods and services in record numbers, wages are good, and the rate of GDP growth increases? | Prosperity | ||||
| What is a period in which demand begins to decrease, business lower production, unemployment begins to rise, and GDP growth slows for two or more quarters of the calender year? | Recession | ||||
| What is a phase marked by a prolonged period of high unemployment, weak consumer sales, and business failures? | Depression | ||||
| What is the phase in which unemployment begins to decrease, demand for goods and services increases, and GDP begins to rise again? | Recovery | ||||
| What is an increase in the general level of prices? | Inflation | ||||
| What is a number that compares prices in one year with prices in some earlier base year? | Price Index | ||||
| What means a decrease in the general level of prices? | Deflation | ||||
| What is the rate banks make available to their best business customers, such as large corporations? | Prime Rate | ||||
| What is the rate financial institutions are charged to borrow funds from Federal Reserve banks? | Discount Rate | ||||
| What is the yield on short-term (13-weeks) U.S. government debt obligations? | T-Bill Rate | ||||
| What is the yield on long-term (20-year) U.S. government debt obligations? | Treasury Bond Rate | ||||
| What is the amount individuals pay to borrow for the purchase of a new home? | Mortgage Rate | ||||
| What is the cost of borrowing for large U.S. corporations? | Corporate Bond Rate | ||||
| What is the rate for time deposits at savings institution? | Certificate of Deposit Rate | ||||
| What refers to money spent by a business for an item that will be used over a long period? | Capital Spending | ||||
| What involves spending by business for items such as land, buildings, equipment, and new products? | Capital Projects | ||||
| What represents ownership in a corporation? | Stock | ||||
| What is stock ownership commonly called? | Equity | ||||
| What represents debt for an organization? | Bond | ||||
| Your a what if you purchase a corporate or government bond? | Creditor | ||||
| What is the result of a government which spends LESS tan it takes in? | Budget Surplus | ||||
| What is the result of a government which spends MORE than it takes in? | Budget Deficit | ||||
| What is the total amount owed by the federal government? | National Debt |
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Created by:
Dawn Laurila Waara
on 2010-05-27