Question
Please define the economic vocabulary words and give an example each. Put some reference if needed EXAMPLE: Expansion or boom - An expansion or boom
Please define the economic vocabulary words and give an example each. Put some reference if needed EXAMPLE: Expansion or boom - An expansion or boom is a period of economic growth. This can happen when there is an increase in the demand for goods and services, or when there is an increase in the supply of goods and services. An example of an expansion would be if the economy was growing at a rate of 3% per year. This would happen because the demand for goods and services increased, or because the supply of goods and services increased. 1. Aggregate behavior 2. Aggregate Output 3. Business cycles 4. Circular flow 5. Contraction, Recession, or Slump 6. Depression 7. Dividends 8. Fiscal policy 9. Great Depression 10. Hyperinflation 11. Inflation 12. Macroeconomics 13. Microeconomics 14. Stagflation 15. Sticky prices
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