| A | B |
|---|
| deflation | a decrease in the general price level |
| business cycle | the movement of the economy from one condition to another and back again |
| capital project | spending by business for items such as land, buildings, and equipment |
| GDP | the total value of all final goods and services produced in a country in one year |
| budget surplus | government spends less than it takes in |
| depression | a phase marked by a long period of high unemployment, weak consumer sales, and business failures |
| bond | represents debt for an organization |
| personal income | salaries and wages as well as investment income and government payments to individuals |
| GDP per capita | the GDP divided by the total population of a country |
| productivitiy | production output in relation to a unit of input, such as a worker |
| recovery | the phase in which unemployment decreases, demand for goods and services increases, and GDP begins to rise |
| inflation | an increase in the general price level |
| stock | represents ownership in a corporation |
| budget deficit | government spends more than it takes in |
| unemployment rate | the portion of people in the labor force who are not working |
| retail sales | the sales of durable and nondurable goods bought by consumers |
| prosperity | a period in which unemployment is low, businesses produce many goods and services, and wages are good |
| price index | a number that compares prices in one year with prices in some earlier base year |
| recession | a period in which demand, production, and GDP growth decrease and unemployment begins to rise |
| national debt | the total amount owed by the federal government |
