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Vocabulary words for Chapter 2

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
Gross Domestic Product   show
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show output per person  
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unemployment rate   show
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productivity   show
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personal income   show
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show sales of durable and nondurable goods bought by consumers  
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business cycle   show
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prosperity   show
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show a period when demand begins to increase, businesses lower production , unemployment begins to rise and GDP growth slows for two or more quarters of the calendar year  
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depression   show
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show the phase when unemployment begins to decrease, demand for goods and services increase and GDP begins to rise again  
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inflation   show
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price index   show
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deflation   show
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show spending by businesses for items such as land, buildings equipment and new product development  
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show a representation of ownership in a corporation  
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show a certificate representing a promise to pay a definite amount of money at a stated interest rate  
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budget surplus   show
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budget deficit   show
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national debt   show
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Created by: Mrs. Ann Kidwell
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