| A | B |
|---|
| gross national product | the total value of all the goods and services produced in a nation in one year excluding those made by foreign corporations and businesses |
| household | all the people living in one dwelling |
| family | all the people living in one dwelling related by blood or mariage |
| census | the count of a nations population |
| demographer | someone who studies population and factors affecting population |
| babyboom | a period with an unusually high birthrate |
| dependency ratio | the relationship between the number of people working and the number of people not working |
| standard of living | the total value of production within a nation divided by its population |
| seasonal unemployment | the loss of jobs due to changes in the seasons |
| automation | replacing workers with machines |
| full employment | the lowest attainable level of produciton |
| deflation | a general decrease in the level of prices |
| hyperinflation | increases in prices at a rate in excess of 500% annually |
| misery index | a measure of economic suffering based on unemployment levels and inflation |
| Laffer Curve | a hypothetical graph suggesting that at some point tax cuts would increase tax revenues by stimulating economic growth |
