1 of 15

Slide Notes

DownloadGo Live

Section 4 vocabulary

Published on Nov 19, 2015

Section 4 Vocabulary

PRESENTATION OUTLINE

Section 4 vocabulary

Click to add more text 
Photo by Krista76

Gross Domestic PRoduct

Measure of countries economic performance
Photo by nathanmac87

Business Cycle

Series of economic expansions and contractions

Peak

Customers must pay additional fee when product is in high demand
Photo by kevin dooley

Trough

Point between economic recession and recovery
Photo by Leonrw

Expansion

An increase in the level of economic activity
Photo by Cedim News

Contraction

When economy is in decline
Photo by marsmet553

Monetary policy

Central bank does this to control the money supply

Fiscal policy

Government spending taxes on the economy
Photo by John Lemieux

Progressive tax

More money you make, higher the taxes will be
Photo by Felipe Menhem

regressive tax

More money you make, lower your taxes will be

Proportional tax

Tax rate is fixed no matter what your income is

budget deficit

Government spending instead of business or individual spending
Photo by aresauburn™

National dept

The money our country owes to other countries
Photo by star5112

macroeconomics

Economics on a general or national level
Photo by Werner Kunz