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Measuring the Economy

Horizontales
Out of work people who have actively looked for a job in the last 6 months
a period of falling demand for goods/services & a cut-back in business activity
lowest point in business cycle, employment way down, many businesses go bankrupt.
the movement of the economy between good and bad times.
a number used to measure changes in prices from a base year. (base year = 100)
A general rise in prices
Verticales
economic facts that have been adjusted for inflation
a period of rising demand for goods/services, unemployed people find jobs again
People 16 and over willing and able to work
high point of business cycle, employment up, businesses fully utilized.--less than 5% unemployed
the amount of output (in goods/services) per unit of input (natural, human, & capital )
the total dollar figure of all goods and services produced by an economic system in a year.