Chapter 14
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| show | Changes in real GDP marked by periods of expansion
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| Business Fluctuation | show 🗑
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| Recession | show 🗑
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| show | Point where real GDP stops going up
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| show | Turnaround point where GDP stops going down
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| show | A Period of recovery from a recession
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| show | A growth path the economy would follow if it were not interrupted by alternating periods of recession and recovery
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| Depression | show 🗑
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| Depression Scrip | show 🗑
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| Ecometric Model | show 🗑
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| show | A monthly statistical series that usually turns down before real GDP turns down, and turns up before GDP turns up.
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| Unemployed | show 🗑
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| show | The number of unemployed individuals divided by the total number of persons in the civilian labor force.
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| Frictional Unemployment | show 🗑
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| Structural Unemployment | show 🗑
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| show | Unemployment directly related to swings in the business cycle.
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| show | Unemployment resulting from changes in the weather or changes in demand for a certain products
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| Technological Unemployment | show 🗑
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| Automation | show 🗑
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| Price Level | show 🗑
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| Deflation | show 🗑
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| show | Inflation in the range of 1 to 3 per year
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| show | A more intense form of inflation that can go as high as 100 ti 300 percent
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| Hyper Inflation | show 🗑
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| show | A curve that shows how much the actual distribution of income varies form and equal distribution
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| show | Annual dollar amounts used to evaluate the money income that families and unrelated individuals receive
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| Welfare | show 🗑
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| Food Stamps | show 🗑
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| Earned Income tax Credit | show 🗑
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| show | Areas where companies can locate free of some some local state, and federal tax laws and other operating restrictions
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| Workfare | show 🗑
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| show | A proposed type of tax that would make cash payments to certain groups below poverty line.
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| show | Recession- where GDP decline
Expansion- where it recovers from recession
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