| A | B |
|---|
| Prosperity | The highest level of economic activity in a business cycle when most people are working and businesses are producing goods and services in record numbers. |
| Recession | A period where demand begins to decrease, businesses lower production of their goods and services and unemployment begins to rise. |
| Depression | A phase in the business cycle that is marked by a prolonged period of high unemployment, weak sales of goods and services, and business failures. |
| Gross Domestic Product | The dollar value of all final goods and services that a country produces in one year. |
| Inflation | A prolonged level in the rise of prices of goods and services. |
| Consumer Price Index | The change in the prices in a "market basket" of 364 consumer goods and services. |
| Productivity | The number of items produced per worker in a specific period of time. |
| Standard of Living | The measure of how well people in a country live. |
| Unemployment | An indicator of economic growth that shows the number of people that are not working in an economy. |
| Recovery | The phase in the business cycle where unemployment begins to decline and demand for goods and services increases. |
