Structural Unemployment- A longer-lasting form of
unemployment caused by fundamental shifts in an economy.
Recovery- A period of increasing business activity signaling the
end of a recession.
Recession- Is a business cycle contraction.
Depression- A sever
Inflation- A general increase in prices and fall in the purchasing
value of money.
Peak- The stage of the business or market cycle from the end of
a period of growth into declining activity and contraction until it
hits its ultimate cyclical bottom.
Net Exports-The value of a country's total exports minus the
value of its total imports. It is used to calculate a country's
aggregate expenditures, or GDP, in an open economy.
Gross Domestic Product (GDP) - The monetary value of all the
finished goods an
The Story of Foreign Trade and Exchange
Answer the questions in detail as you read the text. You are creating a study guide for
your test so include sufficient detail.
1. What is the difference between absolute and comparative advantage
Stagflation- A portmanteau of stagnation and inflation, is a
situation in which the inflation rate is high, the economic
growth rate slows, and unemployment remains steadily high.
Cyclical Unemployment- Workers losing their jobs due to
Georgia Virtual Learning Economics Module #2: Fundamentals: Economic Systems and The Role of
As you listen to the video tutorials in this lesson, complete this graphic organizer by answering the
questions in t
To: The Secretary of Commerce
From: Terrence Bee
Subject: Oil Trade Barriers
Madame/Mr. Secretary of Commerce:
I feel the oil industry is in danger of having too much imported into the U.S The U.S. imports too
much oil when we can produce it
The Different Types Of Insurance
Automobile- It can provide coverage for if an accident happens, it also pays for most of the
costs of the accident. There is damage or vandalism, and if there is an accident it covers the cost
of injures to the people in t
Phosphorus A Scarce Resources
Good evening ladies and gentlemen, there is a resources being over used and
underappreciated. This resources is just as important to use as water and food. This resource is
not thought about to be necessary for life. It is no
The Story of Banks Study Guide:
Answer the questions as your read and then submit your responses according
to your teachers instructions.
1. Why do individuals and business owners deposit their money in banks?
Safety and convenien