Unit 6 Basic Economic Concepts Flashcards

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1
Q

Business Cycle

A

A predictable long term pattern of alternating periods of economic growth and decline. The cycle passes through four stages: expansion, peak, contraction, and trough.

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2
Q

Gross domestic product (GDP)

A

The total value of goods and services produced in a country during 1 year. It includes consumption, government purchases, investments, and export minus imports.

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3
Q

Yield curve

A

A graphic representation of the actual or projected yields of fixed-income securities in relation to their maturities.

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4
Q

Inverted yield curve

A

A chart showing long-term debt instruments having lower yields than short-term debt instruments.

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5
Q

Flat yield curve

A

A chart showing the yields of bonds with short maturities as equal to the yields of bonds with long maturities.

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6
Q

Inflation

A

A persistent and measurable rise in the general level of prices.

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7
Q

Deflation

A

A persistent and measurable fall in the general level of prices.

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8
Q

Gross domestic product (GDP)

A

The total value of goods and services produced in a country during 1 year. It includes consumption, government purchases, investments, and exports minus imports.

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