3.2_patel_econ Word Scramble
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Question | Answer |
productivity | is output per worker hour that is measured over a defined period of time. |
gross domestic product | is the output of goods and services produced by labor and property located within a country. |
gross national product | is the total dollar value of goods and services produced by a nation including goods and services |
inflation | refers to rising prices. a low inflation rate is good because it shows that an economy is stable. |
consumer price index | measures the change in price over a period of time oof some 400 specific retail goods and services used by the average urban household |
producer price index | measures wholesale price levels in the economy. it is often a trendsetter, as a producer prices generally get passed along. |
expansion | economy is flourishing, sometimes referred to as a period of prosperity. |
recession | is a period of economic slowdown that lasts for at least two quarters, or six months. |
depression | period of prolonged recession. nearly impossible to find a job. |
recovery | renewed economic growth. |
trough | low point from recession to recovery. |
Created by:
vhaun
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