Econ Unit 3 Lessons 1-3

Business Investments

• This is one of the categories of GDP. It tracks the purchase of new plants, new equipment, new buildings, new residences, and inventories.
• Study of overall aspects and workings of a national economy.
• A period of macroeconomics expansion followed by a period of contraction. This could be for a business, industry, or entire economy.
• A period of economic growth.

Business Cycle

• A period of macroeconomics expansion followed by a period of contraction. This could be for a business, industry, or entire economy.
• One of the categories of GDP. It tracks the spending by households on goods and services.
• Study of overall aspects and workings of a national economy.
• An economic indicator that follows or trails changes in overall economic activity.

Consumer Spending

• One of the categories of GDP. It tracks the spending by households on goods and services.
• A period of economic decline.
• This is one of the categories of GDP. It tracks the purchase of new plants, new equipment, new buildings, new residences, and inventories.
• Study of overall aspects and workings of a national economy.

Contraction

• A period of economic decline.
• An alternative measure to GDP that tracks of economic growth that focuses on economic well-being not monetary transactions.
• A period of economic growth.
• This is one of the categories of GDP. It tracks the purchase of new plants, new equipment, new buildings, new residences, and inventories.

Genuine Progress Indicator

• An alternative measure to GDP that tracks of economic growth that focuses on economic well-being not monetary transactions.
• An economic indicator that follows or trails changes in overall economic activity.
• A period of economic decline.
• A period of macroeconomics expansion followed by a period of contraction. This could be for a business, industry, or entire economy.

Expansion

• A period of economic growth.
• This is one of the categories of GDP. It tracks the spending by all levels of government on goods and services.
• An alternative measure to GDP that tracks of economic growth that focuses on economic well-being not monetary transactions.
• One of the categories of GDP. It tracks the spending by households on goods and services.

Government Spending

• This is one of the categories of GDP. It tracks the spending by all levels of government on goods and services.
• An economic indicator that follows or trails changes in overall economic activity.
• The market value of all final goods and services produced in a country in a year. It measured by totaling money spent on consumption, investment, government spending, and net exports.
• An alternative measure to GDP that tracks of economic growth that focuses on economic well-being not monetary transactions.

Lagging Economic Indicator

• An economic indicator that follows or trails changes in overall economic activity.
• The market value of all final goods and services produced in a country in a year. It measured by totaling money spent on consumption, investment, government spending, and net exports.
• An economic indicator that predicts or shows an upcoming contraction or expansion in the business cycle.
• This is one of the categories of GDP. It tracks spending by people outside the United States on U.S. produced goods and services minus spending by people in the United States on foreign goods and services.

Gross Domestic Product

• The market value of all final goods and services produced in a country in a year. It measured by totaling money spent on consumption, investment, government spending, and net exports.
• An economic indicator that predicts or shows an upcoming contraction or expansion in the business cycle.
• This is one of the categories of GDP. It tracks spending by people outside the United States on U.S. produced goods and services minus spending by people in the United States on foreign goods and services.
• The highest point in economic growth, the top of an expansion in the busniess cycle.

Leading Economic Indicator

• An economic indicator that predicts or shows an upcoming contraction or expansion in the business cycle.
• The market value of all final goods and services produced in a country in a year. It measured by totaling money spent on consumption, investment, government spending, and net exports.
• This is one of the categories of GDP. It tracks spending by people outside the United States on U.S. produced goods and services minus spending by people in the United States on foreign goods and services.
• The period that occurs in the business cycle when economic growth exceeds the previous peak.