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Chapter 2 Economic Activity

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Measurements of Economic Activity

Created Date 10.07.20
Last Updated 10.08.20
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  • A decrease in the general price level.
  • The movement of an economy from one condition to another and back again.
  • Spending by businesses for items such as land, buildings, and equipment.
  • The total value of all final goods and services produced in a country in one year..
  • Government spends less than it takes in.
  • A phase marked by a long period of high unemployment, weak consumer sales, and business failures.
  • Represents debt for an organization.
  • Salaries and wages as well as investment income and government payments to individuals.
  • The GDP divided by the total population of a country.
  • Production output in relation to a unit of input, such as a worker.
  • Unemployment decreases, demand for goods and services increases, and GDP begins to rise.
  • An increase in the general price level.
  • Represents ownership in a corporation.
  • Government spends more than it takes in.
  • The portion of people in the labor force who are not working.
  • The sales of durable and nondurable goods bought by consumers.
  • Unemployment is low, businesses produce many goods/services, and wages are good.
  • A number that compares prices in one year with prices in some earlier base year.
  • Demand, production and GDP growth decrease and unemployment begins to rise.
  • The total amount owed by the federal government.