Financial Literacy Ch 3 Vocabulary Review

An increase in the general level of prices for goods and services.

• inflation
• deflation
• disinflation
• reflation

Rising prices with the rate of increase slowing down.

• inflation
• deflation
• disinflation
• reflation

A decrease in the general level of prices for goods and services.

• inflation
• deflation
• disinflation
• reflation

High prices followed by lower prices and then high prices again.

• inflation
• deflation
• disinflation
• reflation

A concept that says a dollar you receive in the future will be worth less than a dollar you receive in the present (today).

• time value of money
• GDP
• productivity
• inflation

The value of all goods and services produced in a country in a given time period.

• time value of money
• GDP
• productivity
• inflation

A measure of the efficiency with which goods and services are made.

• time value of money
• GDP
• productivity
• inflation

Rapidly rising prices that are out of control.

• hyperinflation
• deflation
• demand-pull inflation
• cost-push inflation

Rising prices as a result of rising production costs.

• hyperinflation
• deflation
• demand-pull inflation
• cost-push inflation

Higher prices as a result of consumers wanting to buy more goods and services than producers supply.

• hyperinflation
• deflation
• demand-pull inflation
• cost-push inflation