click below
click below
Normal Size Small Size show me how
finlit..
vocab.
Question | Answer |
---|---|
Economics | Is often defined as the study of choices. |
Economy | A system in which all these different people and groups interact. |
Macroeconomics | Deals with broad issues that impact the economy as a whole. |
Microeconomics | Features on the study individual choices or decisions made by smaller unites |
Demographics | Is the study of human population |
The Baby Boom | was a period of very high birthrates that occurred between 1940 & 1964 |
Gross Domestic Product | Is the total dollar amount of all fund goods and services purchased in a given year. |
Recession | Is a period of time in which the economy is shrinking. |
Depression | is a severe recession. |
Business Cycle | IS ONE full period of economic growth followed by a period of recession. |
Inflation | is defined as a sustained increase in this general level of price. |
Consumer Price Index | is the formal measure of inflation that tells us whether things overall are more expensive now than in the past. |