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7C Vocab

Civics vocab Unit 7C

TermDefinition
Business Cycle a cycle or series of cycles of economic expansion and contraction
The New Deal a group of U.S. government programs of the 1930s
Federal Reserve the central bank of the United States and the most powerful financial institution in the world
Reserve Requirements a central bank regulation that sets the minimum amount of reserves that must be held by a commercial bank
Progressive Taxes a tax in which the tax rate increases as the taxable amount increases
Regressive Taxes a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases
Competition the activity or condition of competing
Government Securities bonds or other promissory certificates issued by the government
Monetary Policy the process by which the monetary authority of a country controls the supply of money
Discount Rate the minimum interest rate set by the Federal Reserve for lending to other banks
Gross Domestic Product the total value of goods produced and services provided in a country during one year
Recession a period of temporary economic decline during which trade and industrial activity are reduced
Inflation a general increase in prices and fall in the purchasing value of money
Depression a long and severe recession in an economy or market
Money Supply the total amount of money in circulation or in existence in a country
Demand Deposits a deposit of money that can be withdrawn without prior notice
Standard of Living the degree of wealth and material comfort available to a person or community
Economic Indicators Series of statistical figures used by economists to predict future economic activity
Created by: LadyWolf03
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