23. The business cycle

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Frage		Antworten
downturn Lernen beginnen		a decline in economic activity
upturn Lernen beginnen		an increase in economic activity
expectation oczekiwania, wymagania Lernen beginnen		beliefs about what will happen in the future
consumption Lernen beginnen		purchasing and using goods and services
gross domestic product Lernen beginnen		the total value of goods and services produced by a country in a year
balance of payment Lernen beginnen		is a statement of all transactions made between entities in one country and the rest of the world over a defined period, such as a quarter or a year.
demand Lernen beginnen		the willingness and ability of consumers to purchase goods and services
supply Lernen beginnen		the willingness and ability of businesses to offer goods and services for sale
save Lernen beginnen		to keep money so that you can use it in the future
equilibrium Lernen beginnen		a state of balance, for example when supply is the same as demand
deficit Lernen beginnen		an amount of money that is smaller than is needed
surplus nadmiar Lernen beginnen		an excess: a quantity that is larger than is needed
fiscal policy Lernen beginnen		government actions concerning taxation and public expenditure działania rządu dotyczące podatków i wydatków publicznych
monetary policy Lernen beginnen		government or central bank actions concerning the rate of growth of the money in circulation działania rządu lub banku centralnego dotyczące tempa wzrostu pieniądza w obiegu
money supply podaż pieniądza Lernen beginnen		the total amount of money available in an economy at a particular time
keynesianism Lernen beginnen		the economic theory that government monetary and fiscal policy should stimulate business activity and increase employment in a recession
business cycle Lernen beginnen		a period during which a country's economy goes from growth to recession (= a time when business conditions are bad) and back to growth

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