Unit 5 Economics Vocab

5. the percentage increase in the average price level of goods and services from one month or year to the next.
6. an increase in the overall price level of goods and services produced in an economy.
8. statistics that help economists judge the health of an economy
9. a period of declining national economic activity.
11. a recurring pattern of growth & decline in economic activity over time.
14. the market value of all final goods & services produced within a country during a given period of time.
15. a monetary policy designed to accelerate the rate of growth of the money supply in order to stimulate economic growth.
16. central bank policy aimed at regulating the amount of money in circulation.
17. government policy regarding taxing & spending.

1. a legislative limit on the amount of national debt that can be incurred by the U.S. Treasury.
2. a monetary policy designed to slow the rate of growth of the money supply in order to reduce inflation.
3. a combination of economic stagnation and high inflation
4. a ripple effect in which a change in spending by one person or business leads to additional changes in spending by another person or business.
7. government spending in excess of what is collected in revenues.
10. the percentage of the labor force that is not employed but is actively seeking work.
12. a measure of price changes in consumer goods and services over time.
13. the possible effect of increased government borrowing on business & consumers.