Gross Domestic Product (GDP) - measures the value of all goods and services in a country, Unemployment Rate - measures the percentage of people who want a job, but cannot find one, Consumer Price Index (CPI) - measures the general level of prices for goods, Inflation - occurs when there is too much money in circulation, leading to an overall rise in prices, Recession - occurs when there is not enough money in circulation, leading to a decline in productivity and higher unemployment, Expansionary Policy - government actions designed to allow greater $$$ in circulation to help the economy to grow, Contractionary Policy - government actions designed to reduce the amount of $$$ in circulation and slow the economy down, Fiscal Policy - the use of taxing and spending to influence the economy, Goals of Economic Policy - promote full employment, price stability, and economic growth,

Key Economic Terms

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