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Chapter 3.1 Vocab

Key Terms from Chapter 3.1 Economic Indicators

TermDefinition
Gross Domestic Product The total value of all products and services produced in a country in one year.
Inflation When prices rise and money buys less.
Unemployment Rate The percentage of people who want a job and are actively looking for one
National Debt The total amount of money our government spends over time.
Deficit When the government spends more than it collects
Surplus When the government collects more money than it spends
Created by: user-2070176
 

 



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