 Agricultural  Service  Industrial  Information

 GDP  Unemployment Rate  Inflation  National Debt

 Total value of goods and services produced  Measures productivity in a country  Changes standard of living depending on country

 Able to work but can’t find work Quitting Seasonal Graduating Technology Downsizing Current economic trends

 General Increase in prices and costs  Can be too productive- hyperinflation Look up an example of hyper-inflation Causes, Economic conditions, What was done to combat hyper-inflation  Also can have deflation Lower prices, cut production  US targets 1-3% inflation by controlling production and unemployment

 Income from taxes  Spending more than income leads to….  Can also borrow from public, other countries  Defaulting  Surplus

 Pg. 38  Work in a group and discuss  Answer the questions as a group and tell me your decision

 Ups and Downs  Prosperity  Recession  Depression  Recovery

 Peak economic activity  Increased wages and productivity  Last period of prosperity???

 Slowing economic activity  Unemployment increases  Production decreases

 Create a recession in an industry or product  Other than that industry or product what other industries will be effected directly? Indirectly?

 2 consecutive quarters with negative growth  High unemployment, Low production

 Increase in productivity  Decreasing unemployment

 Compare the depression in 1929 with the depression beginning in 2008  Now compare the recovery process in 1939 with what the government is doing now.