Deca vocab unit 3

2. a time when an economy is flourishing
4. output per worker hour that is measured over a defined period of time such as a week, month or year
8. a time when the economy is slowed
11. refers to rising prices
14. reocurring changes in economic activity.
16. Europe's trading bloc
17. goods and services purchased from other countries
19. exchange of goods and services among nations.
21. goods and services sold to other countries
22. a governments establishment of economic policies that systematically restrict imports
23. a global coalition of nations that make rules governing international trade.

1. international trade agreement among the US, Canada, and Mexico.
3. total dollar value of goods and services produced by a nation.
5. total ban on specific goods coming into and leaving a country
6. the output of goods and services produced by labor and property located within a country.
7. commercial exchange between nations that is conducted on free market principles without any regulations
9. measures the change in price over a period of time of 400 specific retail goods and services used by urban household.
10. measures wholesale price levels in economy.
12. a tax on imports
13. limits either the quantity or the monetary value of a product that may be imported.
15. difference in value between exports and imports.
18. the term that signifies a period of renewed economic growth following a recession or depression.
20. a period of prolonged recession