Chapter 13 Economic Instability
Vocabulary
Section One - Business Cycles and Fluctuations
business cycles business fluctuations recession peak trough expansion trend line depression depression scrip leading economic indicator composite index of leading indicators –
econometric model -
Section Two- Inflation
inflation deflation price index consumer price index (CPI)market basket creeping inflation hyperinflation stagnation producer price index (PPI)implicit GDP price deflator demand-pull inflation cost-push inflation creditor debtor Section Three- Unemployment
labor force unemployed unemployment rate frictional unemployment structural unemployment outsourcing –
technological unemployment cyclical unemployment seasonal unemployment GDP gap misery index discomfort index -