| A | B |
|---|
| Gross Domestic Product | The total value of all final goods and services produced in a country in one year. |
| Economic Growth | Expansion of the economy to produce more goods, jobs an wealth. |
| Unemployment | A person who wants to work but can't find a job |
| Consumer Price Index | A measure of how much the prices of necessary items are changing. |
| Inflation | A steady rise in the price of goods and services. |
| Stagflation | Situation in which prices increase but the economy does not grow. |
| Aggregate Supply | Total amount of goods and services that all producers in an economy are willing and able to make. |
| Aggregate Demand | Total amount of goods and services that all the people in an economy are willing to buy. |
| Budget Deficit | A situation in which the government spends more money in a given year than it collects in tax revenue. |
| National Debt | Total amount of money owed by the federal government. |
| Unemployment Rate | Percentage of people in the labor force who are looking for work |
| Real GDP | Value of the gross domestic product after adjusting for inflation |
