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economictermsconcept

economic terms

QuestionAnswer
prime rate the interest rate that commercials banks charge their best customers
business cycle the recurring ups and downs of the GDP
recession a period of decline in the economy
peak point where GDP stops going up
trough point where GDP stops going down
expansion a period of recovery from a recession
depression (often called trough)period in the economy where there is high unempolment, shortages
blue collar workers industrial or factory workers
white collar workers clerical, business or preffessional workers who are generally salaried.
tariff a tax on imports
quota limiton the amount of goods that can be brought into a country.
Created by: jessicaaguilera
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