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Ch. 12-13 Quiz

AB
Gross Domestic Producttotal value of all goods and services
Business Cycleperiod of expansion followed by a period of contraction
Recessionprolonged economic contraction
SavingIncome not used on consumption
Technological Progressan increase from producing more output without using more inputs
Unemployment Ratepercentage of unemployed
Inflationincrease in prices
Poverty Ratepercentage of people with income below the poverty line
Food Stampsgovernment coupons used for food
Censusofficial count of the population



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