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ECO Topic 7 Vocab Quiz

Select the Definition that corresponds to the displayed Term.
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1. Depreciation




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2. Nondurable Good




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3. Real GDP




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4. Cash Transfers




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5. Discouraged Worker




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6. Peak




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7. Intermediate Goods




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8. Trough




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9. Nominal DGP




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10. Seasonal Unemployment




Select the Term that corresponds to the displayed Definition.
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11. Type of unemployment that occurs when workers’ skills do not match those needed for the jobs available




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12. A program requiring work in exchange for temporary government assistance




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13. The way in which a nation’s total income is distributed among its population




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14. Federal funds given to the states in lump sums




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15. The annual income earned by a nation’s firms and citizens




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16. Type of unemployment that occurs when people take time to find a job




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17. An income level below that which is needed to support families and households




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18. The increasingly tight interconnection of producers, consumers, and financial systems around the world




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19. A period of economic decline marked by falling real GDP




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20. A steady, long-term increase in real GDP





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