Econ Unit 3 Lessons 1-3

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Business Investments

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This is one of the categories of GDP. It tracks the purchase of new plants, new equipment, new buildings, new residences, and inventories.

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Business Cycle

Back

A period of macroeconomics expansion followed by a period of contraction. This could be for a business, industry, or entire economy.

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Consumer Spending

Back

One of the categories of GDP. It tracks the spending by households on goods and services.

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Contraction

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A period of economic decline.

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Genuine Progress Indicator

Back

An alternative measure to GDP that tracks of economic growth that focuses on economic well-being not monetary transactions.

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Expansion

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A period of economic growth.

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Government Spending

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This is one of the categories of GDP. It tracks the spending by all levels of government on goods and services.

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Lagging Economic Indicator

Back

An economic indicator that follows or trails changes in overall economic activity.

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Gross Domestic Product

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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.

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Leading Economic Indicator

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An economic indicator that predicts or shows an upcoming contraction or expansion in the business cycle.