Business 9 - Ch. 2

Salaries and wages as well as investment income and government payments to individuals.

A financial situation that occurs when a government spends more than it takes in

Ownership in a corporation

The sales of durable and non-durable goods bought by consumers

The phase of the business cycle that is marked by a prolonged period of high unemployment, weak consumer sales, and business failures.

An increase in the general level of prices

• Deflation

• Productivity

• Inflation

• Business Cycle

The production output in relation to a unit of input, such as a worker

• Productivity

• GDP per capita

• Inflation

• Deflation

The output per person, calculated by dividing gross domestic product (GDP) by the total production

• Business Cycle

• Inflation

• Productivity

• GDP per capita

The movement of the economy from one condition to another and back again. It has four phases including prosperity, recession, depression, and recovery.

• Business Cycle

• Deflation

• Inflation

• Productivity

A decrease in the general level of prices.

• Inflation

• Deflation

• GDP

• Productivity