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ECON 7.1 - 7.2

Full Name:
Period:
Horizontales
Amount of goods and services in the economy that will be purchased at all possible price levels.
Goods that last for a relatively long time.
The dollar value of all final goods and services produced within a country's borders in a given year.
GDP measured in nominal prices.
Goods that last for a short period of time.
A deep recession marked by high unemployment, inflation, and low economic output.
Verticales
A prolonged economic contraction.
A decline in real GPD combined with a rise in price level (inflation).
The annual income earned by a nation's firms and citizens.
The total amount of goods and services in the economy available at all possible price levels.
A period of macroeconomic expansion followed by a period of macroeconomic contraction.
Economic decline marked by a failing real GDP.
The loss of value of capital equipment that results from normal wear and tear.
Average of all prices in the economy.
GDP expressed in constant, or unchanging prices.
A period of economic growth measured by a rise in real GDP.