Economics Ch. 10-12 Test

 An institution for receiving, keeping, and lending money

a prolonged economic contraction

The time at which payment to a bondholder is due

the dollar value of all final goods/services produced w/n a country's borders in a given year

The ability to be used as, or directly converted into cash

those goods that last for a relatively longtime, ex. refrigerators, cars, and DVD players

a monetary system in which paper money and coins had the value of certain amounts of gold

Objects that have value and the govt has decreed that they are an acceptable means to pay debts

a recession that is especially long and severe

those goods that last a short period of time, such as food, light bulbs, and sneakers

All the money available in the United States economy

a steady rise in the stock market over a period of time

a decline in real GDP combined with a rise in the price level

A means for comparing the values of goods and services

GDP expressed in constant, or unchanging prices

a portion of stock that someone can own

a specific type of loan that is used to buy real estate

products used in the production of final goods

the loss of the value of capital equipment that results from normal wear and tear

the annual rate of return on a bond if the bond is held to maturity

Coins and paper bills used as money

a card based on the owner's promise to pay for those good and services in the future

Something that keeps its value if it is stored rather than spent

A bank chartered by the federal government

a person who links buyers and sellers of stock

a bond's stated value, to be paid to the bondholder at maturity

a bond with high risk and potentially to get high yield

a business that specializes in trading stocks

the strategy of spreading out investments to reduce risk

Objects that have value in and of themselves and that are also used as money

a low-denomination bond issued by the United States government

GDP measured in current prices is called

a bond issued by a state or local government or a municipality to finance a public project

act of redirecting resources from being consumed today so they create benefits in the future

The seizure of property from borrowers who are unable to repay their loans

Anything that is used to determine value during the exchange of goods and services

the annual income earned by a nation's firms and citizens

Objects that have value because the holder can exchange them for something else of value

a market for buying and selling stock

a bond issued by a corporation to help raise money for expansion

the interest rate that a bond issuer will pay to the bondholder

The price paid for the use of borrowed money

Failing to pay back a loan

the practice of making high-risk investments w/ borrowed $ in hopes of getting a big return

a person or institution to whom money is owed

a card used to withdraw money from a bank account

a period of macroeconomics expansion followed by one of macroeconomic contraction

the network of structures and mechanisms that allows the transfer of money for savers/borrowers

The direct exchange of one set of goods or services for another 

a steady drop or stagnation in the stock market over a period of time