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gross domestic product

Published on Nov 25, 2015

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PRESENTATION OUTLINE

gross domestic product

amount of goods produced each year

business cycle

cycle of economice expansion and contraction

peak

maximum amount
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trough

business cycle that marks the end

expansion

increase in supply

contraction

after business cycle but before peak occurs

monetary policy

country controls the supply of money

fiscal policy

government spending taxes on influencing the economy

progressive tax

tax rate increase when taxable base amount increases also

regressive tax

tax rate decreases when taxation increase

proportional tax

tax imposed that way, the tax rate is fixed

budget deficit

government spending money instead of group and individuals

national debt

total amount of money a countrys government has burrowed and used

Macroeconomics

 economics thats concerned with large scale or general economic factors