Section 4 Vocabulary by sherricarver62413

1 of 5

Slide Notes

Section 4 Vocabulary

Published on Nov 20, 2015

section 4 vocabulary

PRESENTATION OUTLINE

Untitled Slide

gross domestic product- measure of economic activity in a country
business cycle- long term pattern of economic growth and recession
peak- when capacity is fixed and demand varies
trough- the transition between economic recession and recovery
expansion- the phase of the business cycle when the economy moves from a tr

Untitled Slide

progressive tax- a tax that takes a larger percentage
from the high income earners than it does the low income
individuals.
regressive tax- a tax that take a larger percentage from the
lower income workers than it does the high income workers

Untitled Slide

contraction- happens after the business peaks but before it become a trough
monetary policy- regularity committee ha determined the size and rate
of growth which in return effects interest rates
fiscal policy- government spending policies that influence
macroeconomic conditions.

Untitled Slide

proportional tax- a tax system that requires
the same percentage of income from all tax
payers.
budget deficit- a status of financial health in which
expenditures exeed revinue

Untitled Slide

national debt- money borrowed from one country
to another country, then misappropriated by
national rulers.
macroeconomics- studies the behavior of the aggregate
economy

Friend of Haiku Deck