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Download Module 4 Vocabulary Terms
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Name: Period: Module 4 Vocabulary Terms Economic Freedom — Economic Growth — Efficiency — Equity — Full Employment Security — Stability — Business Cycle — Peak — Trough — Expansion — Contraction — Federal Reserve — Recession — Depression — Great Depression — Name: Period: Gross Domestic Product — Final goods — Gross National Product/Gross National Income — Real GDP — Nominal GDP — Per Capita — Bureau of Labor Statistics — Unemployed — Unemployment Rate — Structural Unemployment — Frictional Unemployment — Cyclical Unemployment — Seasonal Unemployment — Inflation — Demand-Pull Theory — Cost-Push Theory — Name: Hyperinflation — Stagflation — Consumer Price Index (CPI) — Market Basket — Economic Growth — Regulations — Secondary Effects — Market Equilibrium — Minimum Wage — Public Good — Free-Rider — Tragedy of the Commons — Externalities — Capital Investment — Operating Budget — Capital Budget — Period: Name: Period: Developed Nation — Developing Nation/Less Developed Nation — Brain Drain — International Bank for Reconstruction and Development (IBRD)/World Bank — International Monetary Fund (IMF) — Bretton-Woods Conference — Globalization — Comparative Advantage — Specialize — Organization of Petroleum Exporting Countries (OPEC) — Economies of Scale — Balance of Trade — Trade Deficit — Trade Surplus — Middleman — Transaction Costs — Name: Period: Protectionism — Free Trade — Import Quotas — Tariffs — Normal Trade Relations (NTR) — Most-Favored Nation (MFN) — North Atlantic Free Trade Agreement (NAFTA) — European Union (EU) — World Trade Organization (WTO) — Exchange Rate — Appreciate — Depreciate — Fixed-Exchange Rate System — Flexible Exchange Rates — Multinational Corporations —
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