Econ Unit 3 Vocab (Blizzard Bag)

GDP

Inflation

Deflation

CPI

PPI

Real GDP

Aggregate Demand

Aggregate Supply

Business Cycle

Recession

Depression

Trough

Expansion

Peak

The Fed

Monetary Policy

Government policy that attempts to manage the economy by controlling the money supply and thus interest rates.

Reserve Requirement

Discount Rate

Fed Funds Rate

Social Security

Medicare

Medicaid

A federal system of health insurance for those requiring financial assistance.

National Debt

The total deficit from the first presidency down to the present

Unemployment Rate

Number of civilians at least 16 years who have been trying to find a job within the prior four weeks.

Full Employment

Demand-Pull Inflation

Cost-Push Inflation

Fiscal Policy

Regressive Tax

Progressive Tax

Proportional Tax