Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
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

Econ 12

QuestionAnswer
National income accounting System used to monitor the U.S. economy
Gross domestic product (GDP) Dollar value of all final goods and services
Intermediate goods Products used in the production of final goods
Durable goods Goods that last for a relatively long time
Nominal GDP GDP that is measured on current prices
Real GDP GDP expressed in unchanging, prices
Non-durable GDP Goods that last a short period of time
Depreciation Loss of value to equipment resulting in normal wear and tear
Price level Average of all the prices in the economy
Aggregate supply Total amount of goods and services in the economy that is available at all possible price levels
Aggregate demand Amount of goods and services in the economy that will be purchased at all possible price levels
Business cycle Period of economic expansion and contraction usually over a long period of time
Expansion Economic growth (rise in GDP)
Economic growth Steady and long-term increase in real GDP
Peak The height of economic expansion
Contraction Economic decline (falling real GDP)
Trough Lowest point of an economic contraction (real GDP stops falling)
Gross Domestic Product Annual income earned by national firms and their citizens
Recession A long period of economic contraction
Depression A recession that is long and severe
Stagflation Decline in real GDP along with a rise in price level
Leading indicators Set of economic variables used to predict future business cycle trends
Real GDP per capita Real GDP that is divided by the total population of a country
Saving Income not used for consumption
Capital deepening Process of increasing amount of capital per worker
Technological progress Increase in efficiency gained through the production of more output without the use of more inputs
Created by: sudokken
Popular Economics sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards