Chapter 3 Vocab - Mirna Saleh

3. The level of material comfort as measured by he goods and services that are available
7. Total amount
8. A deep recession that affects the entire economy and lasts for several years
9. Large amount
10. Change of growth
13. A rise in business activity after a recession or depression
15. The Guidelines
16. When the government spends more on programs than it collects in taxes
19. A general increase in the cost of goods and services
20. A slowdown of economic activity

1. A situation in which a governments revenue exceeds its expenditures during a one-year period
2. The total value of goods and services produced in a country in a given year
4. The rise and fall of economic activity over time
5. Time span
6. To buy
11. A peak of economic activity
12. A general decrease in the cost of goods and services
14. The total amount of money a government owes
17. Special importance, value, or prominence given to something
18. To go down