Promoting Growth and Stability

The study of the behavior and decision making of entire economies

• microeconomics

• gross domestic product

• work ethic

• macroeconomics

The study of economic behavior and decision making of small units, such as individuals, families, and business

• macroeconomics

• technology

• microeconomics

• gross domestic product

The total value of all final goods and services produced in a particular economy; the dollar value of all final goods services produced within a country's borders in a given year

• work ethic

• gross domestic product

• macroeconomics

• microeconomics

A period of macroeconomic expansion followed by a period of contraction

• gross domestic product

• work ethic

• technology

• business cycle

A commitment to the value of work and purposeful activity; system of values that gives central importance of work

• gross domestic product

• technology

• business cycle

• work ethic

The process used to produce a good or service

• technology

• business cycle

• work ethic

• macroeconomics

One aim of federal economic policy is to provide jobs for everyone who is able to work.

• True

• False

The economy must grow to provide additional goods and services to succeeding generations.

• True

• False

Employment gives consumers, producers, and investors confidence in the economy and in our financial institutions, promoting economic freedom and growth.

• True

• False

As a voter, your elective choices will help guide government economic policy.

• True

• False