Question | Term |
The _____ _____ is used to demonstrate the degree of income inequality. | |
The income gap has ____ since the 1980s. | |
point where real GDP stops going up | |
The broad term for economic and social programs that provide regular assistance to people in need is ____. | |
intense form of inflation that can go as high as 100 to 300 percent | |
If the economy reaches a state in which large numbers of people are out of work, there are shortages of consumer products, and manufacturing plants sit idle, it is clear that the e | |
Unemployment that is directly related to swings in the business cycle is _____. | |
During the late 1990s, the US experienced _____ inflation, at a rate of about 3 percent per year. | |
percent of people out of work divided by the total number of people in the civilian labor force. | |
After GDP bottoms out, the economy moves into a period of _____, which is the second phase of the business cycle. | |
A shift from married-couple families to _______ families is one reason for the growing income gap. | |
The business cycle since World War II has been characterized by extended _________. | |
systematic ups and downs of the real GDP | |
can provide cash to low-income workers | |
annual dollar amounts used to determine whether people are living in poverty | |
One cause of the business cycle is _____ _____, inventories are reduced at the first sign of a decline in the market. | |
When the GDP declines for six months in a row, economists know the economy is in a _____. | |
One cause of the Great Depression was economic conditions in other parts of the _____. | |
Although _______ is very rare, prices of goods did decrease during the Great Depression. | |
turnaround point where real GDP stops going down | |
If inflation reaches 100 to 300 percent, the economy is in a state of _______ inflation | |
Ideally, the _____ ____ will remain under 4.5 percent, which indicates nearly full employment | |
According to the _____________ theory, inflation is caused by businesses, government, and consumers with excessive demand. | |
period during which real GDP declines for 2 quarters in a row or 6 consecutive months | |
This type of unemployment occurs when machines replace the work of people. | |
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