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IB Ch. 2 Terms

AB
Gross Domestic Product (GDP)The total dollar value of a final goods and services produced in a country during 1 yr.
GDP per CapitaOutput per person
Unemployment RateThe portion of people in the labor force who are not working
ProductivityThe production output in a relation to a unit of input
Personal IncomeSalaries and wages as well as investment income and government payments to individuals
Retail SalesThe sales of durable and nondurable goods bought by consumers


Marketing Instructor
Independence Jr./Sr. High School
Cedar Rapids, IA

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