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Economics Unit 5&6

  1. GREAT DEPRESSION
    THE WORST PERIOD OF BUSINESS DECLINE AND UNEMPLOYMENT IN THE NATION'S HISTORY
  2. EXPANSION
    THE PERIOD OF RECOVERY IN A BUSINESS
  3. SALE TAX
    A LOCAL OR STATE TAX LEVIED ON A WIDE RANGE OF CONSUMER ITEAMS
  4. TARRIF
    A GOVERNMENT TAX ON GOODS IMPORTED INTO A COUNTRY
  5. SURPLUS
    THE INCOME REMAINING AFTER EXPENSES HAVE BEEN MET
  6. EXCISE TAX
    A TAX ON THE MANUFACTURE OR SALE OF A SPECIFIC GOOD OR SERVICE
  7. FULL EMPLOYMENT
    A CONDITION THAT EXIST WHEN ALL THOSE WILLING AND ABLE TO WORK CAN FIND JOBS, EXEPT FOR THOSE WHO ARE BETWEEN JOBS. 
  8. FIXED EXCHANGE RATE
    A CURRENCY EXCHANGE RATE A GOVERNMENT SETS.
  9. PROPERTY TAX
    ONE ON THE VALUE OF THE TAXPAYER POSSESIONS SUCH AS A HOUSE, CAR OR OTHER VALUABLES
  10. IMPORTS
    THE GOODS & SERVICES THAT INDIVIDUALS AND BUSINESSES IN A COUNTRY PURCHASE FROM FOREIGN COUNTRIES
  11. RECESSION
    A PHASE OF THE BUSINESS CYCLE CHARACTERIZED BY A DECLINE IN SPENDING BY BUSINESS & CONSUMERS & AN INCREASE IN UNEMPLOYMENT
  12. EXPORTS
    THE GOODS & SERVICES THAT INDIVIDUALS & BUSINESSES IN ONE COUNTRY SELL TO FOREIGN COUNTRIES
  13. FOREIGN TRADE
     exchange of capital, goods, and services across international borders or territories.
  14. SUBSIDY
    A PAYMENT BY THE GOVERNMENT TO INDIVIDUALS OR BUSINESS FIRMS
  15. ECONOMIC INDICATORS
    A SET OF STATISTIC ABOUT THE PERFORMANCE OF A SECTOR OF A NATIONS ECONOMY
  16. LITERACY
    THE ABILITY TO READ AND WRITE
  17. DEVELOPING NATION
    A COUNTRY THAT HAS A LARGELY AGRICULTURAL ECONOMY & IS NOT HEAVILY INDUSTRIALIZED.
Author
raragon972
ID
170746
Card Set
Economics Unit 5&6
Description
Chapter Review
Updated

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