| A | B |
|---|
| Gross Domestic Product (GDP) | measures the dollar value of goods & services produced by workers IN the US during a year; the D in GDP means domestic & domestic means here, at home in the US |
| Standard of Living | dollar value/amount of goods and services the average American can buy |
| Unemployment Rate | the number of people who are actively seeking work but cannot find it |
| Inflation Rate | general increase in the cost of goods & services |
| Deflation Rate | general decrease in the cost of goods & services |
| National Debt | the amount of money a country owes to its creditors |
| Gross National Product (GNP) | measures the dollar value of goods & services produced by Americans no matter where the American is living/working; hint: N in GNP stands for anywhere |
| Consumer Price Index (CPI) | used to measure inflation; surveys families to determine spending habits & analyzes habits over time |
