Unit Five Lesson Thirteen Economics

A recurring pattern of growth and decline in economic activity over time

• Inflation

• Business Cycle

• Recession

• Unemployment

(CPI)a measure of price changes in consumer goods and services over time; the CPI shows changes in the cost of living from year to year

• Investment

• Inflation

• Recession

• Consumer Price Index

Statistics that help economists judge the health of an economy

• Stagflation

• Economic Indicators

• Inflation

• Stock Market Indicators

The market value of all final goods and services produced within a country during a given period of time

• Gross Domestic Product

• Stagflation

• Economic Indicators

• Recession

An increase in the overall price level of goods and services produced in an economy

• Inflation Rate

• Stagflation

• Inflation

• Deflation

The percentage increase in the average price level of goods and services from one month or year to the next

• Recession Rate

• Stagflation

• Inflation Rate

• Deflation

The study of the workings of the economy as a whole

• Microeconomics

• Macroeconomics

• Economics

• Business Cycle

A measure of a country’s economic output (GDP) valued in current dollars; nominal GDP does not reflect the effects of inflation

• Progressive GDP

• Nominal GDP

• Real GDP

• Conservative GDP

A measure of a country’s economic output (GDP) valued in constant dollars; real GDP reflects the effects of inflation

• Stagflation

• Nominal GDP

• Fake GDP

• Real GDP

A period of declining national economic activity, usually measured as a decrease in GDP for at least two consecutive quarters (six months)

• Recession

• Inflation

• Deflation

• Business Cycle