Salaries and wages are examples of.....

the portion of people in the labor force who are not working.

investment income and government payments to individuals are examples of personal income.

The formula to calculate GDP per capita is: GDP divided by market price.

Each individual item used to make a car is counted in GDP.

Only finished goods and services are included in GDP.

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

GDP stands for.....

It is not possible to increase productivity.

Providing training for a new employee is a way to increase.....

the sales of durable and nondurable goods bought by consumers.

Government spending on military equipment is included in GDP.

Government spending to pay public servant's salaries is induced in GDP.

A good that lasts for many years, such as a refrigerator is a _______________ good.

a good that lasts for less than 3 years, such as clothing and cosmetics is a ________________ good.

Everyone is included in the labor force.

you must be at least 18 years old to be included in the labor force.

if you are 16 years or older, and looking for a job, you are included in the labor force.

The movement of the economy from good times to bad and back again is the _________________.

There are ___________ phases in the business cycle.

____________________ is at the "peak" of the business cycle.

The phase in the business cycle where unemployment is high and business failures are common is __________.

______________ is the phase in the business cycle where the economy slows down; demand begins to decrease and GDP growth slows for 2 or more quarters.

When people are working, production of goods and services are high, demand is high, and GDP growth increases, we are in a ______________ phase.

Inflation usually occurs in which phase of the business cycle?

It is common for deflation to occur during a Recession or Depression phase.

The phase where GDP begins to rise again, people gain employment, and consumers start buying goods and services again is __________________.

The general INCREASE in the level of prices is called ___________.

When inflation occurs, you get __________ for your money!

__________________ is used to measure inflation.

When demand for goods and services is GREATER than the supply, prices __________________.

The cost for borrowing money is __________________.

The type of loan you have determines what interest rate you have.

Your credit score affects your interest rate.

Capital spending is money spent on _____________.

Personal savings is a source of funds for businesses to invest in capital projects.

How does the bank reward you for having a personal savings account?

What word below means "ownership in something".

____________ are a debt for an organization.

You can invest in _______________________, which is ownership in a corporation.

When the government spends LESS than it takes in, there is a budget ________________.

When the government spends MORE than it takes in, there is a budget _________________.

When you buy now, and pay later, you are _________________ money.

It is common for a business to carry debt at some time.

What is an example of consumer debt?

A rate that the bank gives to its BEST business customers.

A Short-term government debt obligation

A _______________ rate is the amount individuals pay to borrow money to buy a house.

What happens to interest rates when more people are saving money, and not borrowing?

What happens to interest rates when borrowing by businesses, consumers and government increases?