I Can Statements 1-4 Vocab Flashcards
1
Q
Market Basket
A
Consumer goods or services that are tracked for calculating CPI and cost of living
2
Q
Consumer Price Index (CPI)
A
The average change over time of prices in urban areas
3
Q
Gross Domestic Product (GDP)
A
The value of goods and services in a given year
4
Q
Fair credit reporting act
A
Promotes fairness, equality and privacy of individuals credit reports
5
Q
Fair credit Billing act
A
Protects people from unfair billing acts
6
Q
Truth in lending act
A
Requires all lenders to disclose all information about the charges and fees associated to the loan
7
Q
Fiscal Policy
A
The government uses taxes to influence the economy, if the economy needs more money=more taxes
