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Gross domestic product
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Published on Nov 24, 2015
vocab for economics
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PRESENTATION OUTLINE
1.
Gross domestic product
the total value of goods or services for a country for the entire year
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West Virginia Blue
2.
business cycle
cycle of buying and selling things
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Intersection Consulting
3.
peak
to reach the highest point of a value or price
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tricky (rick harrison)
4.
trough
period at the end of a business cycle
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D_P_R
5.
expansion
to get bigger
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Enokson
6.
contraction
to get smaller
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Otto Phokus
7.
monetary policy
process in which the government controls the flow of money
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Great Beyond
8.
fiscal policy
policy made by the government to deal with budgets
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@ANDYwithCAMERA
9.
progressive tax
tax that's interest rate increases as the initial tax does
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Pathos Photos
10.
regressive tax
tax where the interest rate decreases as the initial tax increases
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YoTuT
11.
proportional tax
tax where the interest rate does not change as the tax increases
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chrstphre
12.
national debt
the debt that one country owes to another or many other countries
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Josh Kenzer
13.
budget deficit
too many expenditures over revenues
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theqspeaks
14.
macroeconomics
economics deling with larger picture, such as interest rates, etc.
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krossbow
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