Refers to rising prices.

The total dollar value of goods and services produced by a nation.

Recurring changes in economic activity are called......

Measure of change in price over a period of time.

a period of economic slowdown that lasts for at least two quarters of a year or six months.

The output of goods and services produced by labor and property located within the US.

A time when the economy is flourishing.

The term that signifies a period of renewed economic growth following a recession or depression.

Measures wholesale price levels in the economy.

A period of prolonged recession.

The physical development of a country is known as which of the following?

James invested his money and time into creating a new business. James act of creating a new business is known as which of the following?

When resources are not available but they were at one point, this is known as which of the following?

Heather learned how to farm from her great grandfather and is now passing on the ability to farm to her fellow country-men. This is known as which of the following economies?

When there is no involvement from the government in economic decisions it could also be known as ________________ economy.

North Korea is an example of which of the following economies?

Privatization is the same as nationalization.