23. The business cycle

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otázka		odpověď
downturn začněte se učit		a decline in economic activity
upturn začněte se učit		an increase in economic activity
expectation oczekiwania, wymagania začněte se učit		beliefs about what will happen in the future
consumption začněte se učit		purchasing and using goods and services
gross domestic product začněte se učit		the total value of goods and services produced by a country in a year
balance of payment začněte se učit		is a statement of all transactions made between entities in one country and the rest of the world over a defined period, such as a quarter or a year.
demand začněte se učit		the willingness and ability of consumers to purchase goods and services
supply začněte se učit		the willingness and ability of businesses to offer goods and services for sale
save začněte se učit		to keep money so that you can use it in the future
equilibrium začněte se učit		a state of balance, for example when supply is the same as demand
deficit začněte se učit		an amount of money that is smaller than is needed
surplus nadmiar začněte se učit		an excess: a quantity that is larger than is needed
fiscal policy začněte se učit		government actions concerning taxation and public expenditure działania rządu dotyczące podatków i wydatków publicznych
monetary policy začněte se učit		government or central bank actions concerning the rate of growth of the money in circulation działania rządu lub banku centralnego dotyczące tempa wzrostu pieniądza w obiegu
money supply podaż pieniądza začněte se učit		the total amount of money available in an economy at a particular time
keynesianism začněte se učit		the economic theory that government monetary and fiscal policy should stimulate business activity and increase employment in a recession
business cycle začněte se učit		a period during which a country's economy goes from growth to recession (= a time when business conditions are bad) and back to growth

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