23. The business cycle

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question		réponse
downturn commencer à apprendre		a decline in economic activity
upturn commencer à apprendre		an increase in economic activity
expectation oczekiwania, wymagania commencer à apprendre		beliefs about what will happen in the future
consumption commencer à apprendre		purchasing and using goods and services
gross domestic product commencer à apprendre		the total value of goods and services produced by a country in a year
balance of payment commencer à apprendre		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 commencer à apprendre		the willingness and ability of consumers to purchase goods and services
supply commencer à apprendre		the willingness and ability of businesses to offer goods and services for sale
save commencer à apprendre		to keep money so that you can use it in the future
equilibrium commencer à apprendre		a state of balance, for example when supply is the same as demand
deficit commencer à apprendre		an amount of money that is smaller than is needed
surplus nadmiar commencer à apprendre		an excess: a quantity that is larger than is needed
fiscal policy commencer à apprendre		government actions concerning taxation and public expenditure działania rządu dotyczące podatków i wydatków publicznych
monetary policy commencer à apprendre		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 commencer à apprendre		the total amount of money available in an economy at a particular time
keynesianism commencer à apprendre		the economic theory that government monetary and fiscal policy should stimulate business activity and increase employment in a recession
business cycle commencer à apprendre		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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