Key Terms
Question
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
Recession
Expansion
Business cycle
Business-cycle peak
Business-cycle trough
Long-run economic growth
Inflation
Deflation
Price stability
Open economy
Trade deficit
Trade surplus
National income and product accounts (national accounts)
Circular-flow diagram
Household
Firm
Product market
Factor market
Consumer spending
Stock
Bond
Government transfers
Disposable income
Private savings
Financial markets
Government borrowing
Government purchases of goods and services
Inventories
Investment spending
Final goods and services
Intermediate goods and services
Gross domestic product (GDP)
Aggregate spending
Value added
Net exports
Aggregate output
Real GDP
Nominal GDP
Chained dollars
GDP per capita
Real GDP per capita