Identify the Following Terms

question 52

Short Answer

Identify the following terms.
-African slavery

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Definitions:

Monetarists

Economists who believe that variations in the money supply are the main source of economic fluctuations.

Recession

A significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in GDP, real income, employment, industrial production, and wholesale-retail sales.

Monetarists

Economists who posit that variability in the money supply critically impacts the short-term national economic output and the price level over longer spans.

Money Supply

This refers to the total amount of money (including cash, coins, and balances in bank accounts) in circulation within an economy at a given time.