| A | B |
|---|
| 1990's | Record Period of prosperity in the US |
| deficit | spending more than revenue |
| profit | total money made |
| surplus | revenue exceeds spending |
| gross domestic product | total value of goods & services a country produces in a year |
| ripple effect | when recession spreads from one industry to another |
| recovery | stage in economic cycle that was brought on by WWII |
| depression | low production, high unemployment, high debt, inflation |
| recession | sloing of production of goods, less spending |
| technology | reason for robust growth of GDP in 1990's |
| bank loans | reason for current recession |
| export | sending products made in USA to other countries |
| import | buying products made in other countries |
| prosperity | peak of economic activity |
| standard of living | amount of goods/services the average American can buy |
| unemployment rate | measure of people who are able to work but are not working |
| inflation | general increase in cost of goods/services |
| deflation | general decrease of cost of goods/services |
| national debt | amount of $ a country owes |
| taxes | main source of income for a country |
| government goods & services | main purchaser that is calculated into our GDP |
| private company | company does not have to share information with anyone |
| public company | company who has a board of directors and trades stock |
| stockholder | buys shares of stock in companies or mutual funds |
| revenue | governement or business income |
| start up | business just starting out |
