Money words

GDP

Gross domestic product: the total value of the goods and services a country produces. It's the main measure of how big an economy is.

Also called: gross domestic product

Learn the bigger idea

• The economy: jobs, GDP and recessions, explainedThe few numbers that say whether the economy is growing or shrinking, and what they mean for getting a job.

Related words

Unemployment rate

The share of people who want a job and are looking for one but don't have one.

Recession

A big, widespread drop in economic activity that lasts more than a few months.

Inflation

When prices rise across the economy, so each dollar buys a little less.

Federal Reserve

The U.S. central bank, often called the Fed. It raises or lowers a key interest rate to keep prices stable and jobs plentiful.

Test yourself in Word sprint · All money words

Tomorrow’s bell-ringer in your inbox before first period: slides, a quiz and a worksheet. Free.

Email address Send it to me