2.  Agricultural  Service  Industrial  Information

3.  GDP  Unemployment Rate  Inflation  National Debt

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

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

8.  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

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

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

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

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

13.  Slowing economic activity  Unemployment increases  Production decreases

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

15.  2 consecutive quarters with negative growth  High unemployment, Low production

16.  Increase in productivity  Decreasing unemployment

17.  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.