Econ unit 2 vocab

Macroeconomics

the study of economy-wide phenomena, including inflation, unemployment, and economic growth

Microeconomics

the study of the economic behavior and decision making of small units, such as individuals, families, and businesses

Unemployment

Measures the number of people who are able to work, but do not have a job during a period of time.

Inflation

a general increase in prices and fall in the purchasing value of money.

Supply

The quantity of something that producers have available for sale

demand

Consumer willingness and ability to buy products

Monetary

of or relating to money or currency

Fiscal

involving financial matters

Interest rate

Percentage of amount borrowed to be added to the amount loaned and paid back

Stimulus (economic)

a policy or action designed to promote business activity and encourage economic growth