Economics Vocab

an explanation of the changes in prices paid by typical consumers for retail goods and other items.

• GDP

• Consumer Price Index

• Inflation

• Deflation

reduction of the general level of prices in an economy.

• Inflation
• Deflation
• Unemployment Rate
• Depression

a general increase in prices and fall in the purchasing value of money.

• Inflation
• Deflation
• GDP
• Recession

the total value of goods produced and services provided in a country during one year

• CPI
• GDP
• Inflation
• CSI

percentage of the total labor force that is unemployed but actively seeking employment and willing to work.

• GDP
• Consumer Price Index
• Unemployment Rate
• Rate of Work

a sum of money that is borrowed, and expected to be paid back with interest.

• Loan
• Interest
• Borrower
• GDP

the proportion of a loan that is charged as interest to the borrower

• Inflation
• Tax
• Tariff
• Interest Rate

a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

• Depression
• Recession
• Happiness
• GDP FALL

a long and severe recession in an economy or market

• Recession
• Depression
• Elation
• Downfall Economy