Macroeconomic Concepts #1

#4

Boycott
This is a form of protest by voluntarily not using, purchasing or dealing with a person or organization.
Business Cycle
This refers to the changes in economic activity of a company over the long term.
Central Bank
This is a financial institution responsible for the monetary policy of a country.
Consumer Price Index
This is an economic measure of inflation in the domestic economy, and is determined by tracking the prices of a specific set of goods and services purchased by the public.
Cyclical Unemployment
Unemployment that is caused by a downturn in the business cycle
Deficit Spending
This is a government spending more money than it is taking in as revenue.
Depression
A prolonged period with large numbers of unemployed, declining incomes, and general economic hardship.
Discount Rate
This is the interest rate charged by the Federal Reserve for loans to member banks.
Disposable Income
This is the economic term that refers to one's total income that is left following the payment of all required taxes.
Federal Reserve System
This is the central bank of the United States.
Fiscal Policy
the government program of spending and taxation to promote desired economic goals for the nation
Frictional Unemployment
Unemployment caused by people changing jobs.
Government Deficit
This occurs when a government spends more money than it takes in.

Macroeconomic Concepts #2

#5

Gross Domestic Product
The total value of all the goods and services produced within a country in a given year
Inflation
A rise in the general level of prices.
Monetary Policy
a plan of the government to regulate the money supply in the nation
Money
This is the legally accepted payment for goods and services.
Recession
This is a decline in a country's GDP for two or more successive quarters. It is usually characterized by a significant decline in economic activity.
Reserve Requirement
This is the percentage of their deposits that member banks must keep available in a Federal Reserve Bank.
Revenue
This is the total amount of money that is brought into a company or government by its business activities or taxation policies.
Stagflation
This is a period of large price inflation combined with no output growth, increasing unemployment, and a recession.
Strike
an organized work stoppage by employees or union members
Structural Unemployment
Unemployment that is caused by changes in technology or reduced demand for certain products.
Subsidy
This is financial assistance from the government to encourage the production of or the purchase of a good.
Transfer Payment
a payment made by the government to someone who does not produce a good or service in return
Unemployment
This is the lack of jobs for willing workers.