ECO Topic 7 Vocab Matching
| A decline in real GDP combined with a rise in the price level |
| An income level below that which is needed to support families and households |
| Those goods that last for a relatively long time, such as refrigerators, cars, and DVD players |
| A period of macroeconomic expansion, or growth, followed by one of contraction, or decline |
| The annual income earned by a nation’s firms and citizens |
| The increasingly tight interconnection of producers, consumers, and financial systems around the world |
| GDP expressed in constant, or unchanging, prices |
| The height of an economic expansion, when real GDP stops rising |
| The dollar value of all final goods and services produced within a country’s borders in a given year |
| Unemployment that rises during economic downturns and falls when the economy improves |
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