| A | B |
|---|
| Phase 2 of the business cycle | Peak/Prosperity |
| Phase 3 of the business cycle | Contraction/Recession |
| Phase 4 of the business cycle; a severe economic downturn of the economy | Trough/Depression |
| Phase 1 of the business cycle | Expansion/Recovery |
| is the amount of goods and services produced in a year, in a country. | Gross Domestic Product |
| A measure of the total output of a country that takes the gross domestic product (GDP) and divides it by the number of people in the country | Per Capita GDP |
| A level of material comfort as measured by the goods, services, and luxuries available to an individual, group, or nation. | Standard of Living |
| measures changes through time in the price level of consumer goods and services purchased by households | Consumer Price Index |
| The sum of all previously incurred annual federal deficits | National Debt |
| The removal of government controls from an industry or sector , to allow for a free and efficient marketplace | Deregulation |
| established in 1970 to reduce and control air and water pollution, noise pollution, and radiation and to ensure the safe handling and disposal of toxic substances. | Environmental Protection Agency |
| an agency of the US government under the Department of Labor with the responsibility of ensuring safety at work and a healthful work environment. | OSAHA (Occupational Safety and Health Administration) |
| an active effort to improve the employment or educational opportunities of members of minority groups and women; | Affirmative Action |
| a movement of people from one place to another | Migration |
| the movement of people from one country to another with the intent to settle in that country or region | Immigration |
| industries that provide services instead of goods | Service Industries |
| A region of western California southeast of San Francisco known for its high-technology design and manufacturing industries | Silicon Valley |
| business, medical, and educational complex situated in central North Carolina. | Research Triangle Park |
