Intro to Business

2. The phase in which unemployment begins to decrease, demand of goods and services increases, and GDP begins o rise again.
7. salaries and wages as well as investment income and government payments to individuals.
9. The sales of durable and nondurable goods bought by consumers.
10. A period in which most people who want to work are working, businesses produce goods and services in record numbers, wages are good, and the rate of GDP growth increases.
12. The production output in relation to a unit of input, such as a worker.
13. Portion of people in the labor force who are not working.
15. Represents ownership in a cooperation.
16. Represents debt for an organization.
17. A period in which demand begins to decrease, businesses lower production, unemployment begins to rise, GDP growth slows for two or more quarters of the calendar year.
18. a decrease in the general level of prices.
19. When a government spends more than it takes in.
20. An increase in the general level of prices.

1. Output per person.
3. When a government spends less than it takes in.
4. The total value of all final goods and services produced in a country during one year.
5. A phase marked by a prolonged period of high unemployment, weak consumer sales, and business failures.
6. The movement of the economy from one condition to the other and back again.
8. Spending by businesses for items such as land, buildings, equipment, and new products.
11. A number that compares prices in one year with prices in some earlier base year.
14. The total amount owed by the federal government.