Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
objective 102
economic conditions
| Term | Definition |
|---|---|
| gross domestic product (GDP) | the total value of all final goods and services produced in a country during one year |
| GDP per capita | output per person found bt dividing GDP by total population |
| productivity | the production output in relation to a unit of input |
| personal income | salaries and wages as well as investment income and government payments to individuals |
| retail sales | the sales of durable and nondurable goods bought by consumers |
| capital projects | involve spending by businesses for land, buildings, equipment, and new products |
| business cycle | the movement of the economy from one condition to another and back agin |
| prosperity | period in which most 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 |
| recession | period in which demand begins to decrease, businesses lower production, unemployment begins to rise, and GDP growth slows for two or more quarters of the calendar year |
| depression | a phase marked by a prolonged period of high unemployment, weak consumer sales, and business failures |
| recovery | the phase in which unemployment begins to decrease, demand for goods and services increases, and GDP begins to rise again |
| inflation | an increase in the general level of prices. in inflation, the buying power of the dollar decreases |
| deflation | A decrease in the general level of prices. usually occurs in periods of recession and depression. prices and lower, but people have less money to buy products |
| price index | a number that compares prices in one year with some earlier base year |
| stock | represents ownership in a cooperation, commonly called equity |
| bond | represents debt for an organization. if you purchase a bond, you have lent money to the organization, in return, you are paid intrest |
| prime rate | the rate banks make available to their best business customers |
| discount rate | the rate financial institutions are charged to borrow fund from the federal reserve banks |
| t-bill rate | the yield on short term (13 week) US government debt obligations |
| treasury bond rate | the yield on short term (20 year) US government debt obligations |
| mortgage rate | the amount individuals pay to borrow for the the purchase of a new home |
| corporate bond rate | the cost of borrowing for large US corporations |
| certificate of deposit rate | the rate for six month time deposits at savings in struction |
| unemployment rate | the portion of people in the labor force who are not working. includes people looking for work and willing to work but unable to find a job |
Created by:
1614856
Popular Business sets