downturn | a decline in economic activity | |
upturn | an increase in economic activity | |
expectations | beliefs about what will happen in the future | |
consumption | purchasing and using goods and services | |
balance of payments | the difference between the funds a country receives and those it pays for all international trasact. | |
balance of payments | bilans płatniczy | |
gross domestic product GDP | the total market value of everything produced in a country in specific period | |
demand | the willingness and ability of consumersto purchase goods and services | |
supply | the willingness and ability of business to offer goods or services for sales | |
save | to put money aside to spend in the future | |
run up debts | zadłużać się | |
equilibrium | a state of balance | |
deficit | an amount of money that is smaller than needed | |
surplus | an amount of money that is bigger than needed | |
fiscal policy | government actions concerning taxation and public expenditure | |
monetary policy | government or central bank actions concerning the rate of growth of the money in circulation | |
money supply | the total amount of money available in an economy at a particular time | |
Keynesianism | the economic theory that goverment monetary and fiscal policy should stimulate market | |