# data[].attributes.body
GDP is the total value of all final goods and services in a country in one year. GDP does not include the work you do for yourself.

it includes 4 big parts.

1. Consumer spending money for needs and wants

2. Business spending for business

3. Government spending for wages supplies and other goods and services

4. Exports and imports

# data[].attributes.body
Business cycle is the recurring ups and downs of GDP, and has 4 phases prosperity, recession, depression, and recovery.

1. Prosperity is the phase people want

2. Recession is when demands start to decrease

3. Depression is a high period of unemployment and weak consumer spending

4. You start to bounce back to the first phase where you want to be

# data[].attributes.body
Interest Rates represent the cost of money. IR has a BIG influence on business activities. Higher IR means higher business costs.

there are 3 different types of IR

1. The prime rate is the rate banks banks make their biggest customers.

2. The discount rate is the rate financial institutes are charged to borrow from the federal reserve.

3. The t-bill rate is the yield on short-term U.S government debt obligations.

# data[].attributes.body
The workers of a country that contribute to the economy in many ways. the laborers of these people create goods and services.

Employment right now is more than 158 million people in the U.S. to produce for the economy

there is a economic concern which is the unemployment rate. In October the was 7 million people in the U.S that are unemployed and that number rises and lowers.(From Bureau of Labor Statistics, United States Department of Labor via Data Commons)

# data[].attributes.body
CS is the money you earn and spend. This is really important to economy to grow

Personal income

The salary's, wages, investment income, and government payments to someone. this money provides the foundation for buying needs, goods, and services.

Retail sales

The sales of goods bought by consumers. These sales are indicators to general consumer spending patterns.

# data[].attributes.body
Vocab

Inflation is when the prices of things go up.

Deflation is the opposite it means the prices are decreasing.

During the early 60's the annual inflation rate was 1 to 3% in 2023 the inflation rate was 4.4. so over the years prices just keep going and going up. And wages usually increase slower than inflation making it harder to live.

with inflation the necessity's may increase faster than the non essentials.

# data[].attributes.body
Investment activities are the things you invest time or money into to make more out of it. Like if you invest more time and money into your education you can get a better job and make more money. Investment on activities can help you out long-term.