| A | B |
|---|
| Gross Domestic Product | The total value of the goods and services produced in a country in a given year. |
| Standard of Living | The level of material comfort as measured by the goods and services that are available. |
| Inflation | A general increase in the price of goods and services. |
| Deflation | A general decrease in the price of goods and services. |
| Budget Deficit | When government spends more on programs than it collects in taxes, the difference in the amount. |
| Recovery | A rise is business activity after a recession or depression. |
| Business Cycle | The rise and fall of economic activity over time. |
| Prosperity | A peak of economic activity. |
| Recession | Economic activity slows down. |
| Depression | A deep recession that affects the entire economy and last for several years. |
| National Debt | The total amount of money a government owes. |
| Empty | Empty |
