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CIV M7L1 Key Terms
Civics Module 7 Lesson 1 Key Terms
Term | Definition |
---|---|
Fiscal Policy | How the government collects taxes and spends the tax money to influence the economy. |
Public Goods | Goods and services provided by the government that benefit all people. |
Business Cycle | The natural rise and fall of the economy that occurs over time. |
Prosperity | A time of general financial well-being. |
Peak | The highest point in a business cycle during a period of economic growth. |
Trough | The lowest point in a business cycle during a period of economic decline. |
Recession | A decline in the economy over a short period of time. |
Recovery | When the economy is growing after a recession or depression. |
Depression | A decline in the economy over a long period of time. |
Unemployment | When someone is able to work but cannot find a job. |