Christine Cogley Graduation Project: Reflection Blog

Key Terms

Bailout- an act of loaning or giving capital to a failing company in order to save it from bankruptcy
Bankruptcy- Having been legally declared financially insolvent, totally depleted of funds
Chapter 13 Bankruptcy- bankruptcy that gives the individual the ability to repay their debts in three to five years after filing
Consumers- a person or organization that uses a commodity or service; people that buy a service or good
Depression- a period during which business, employment, and stock-market values decline severely or remain at a very low level of activity
Fiscal Policy- The federal government's decisions about the amount of money it spends and collects in taxes to achieve a full employment and non-inflationary economy
Foreclosure- the financer of a mortgage seeks to regain property because the borrower has defaulted on payments
GDP- Gross Domestic Product
Layoffs- act of suspending or dismissing an employee, as for lack of work or because of corporate reorganization
NBER- National Bureau of Economic Research
Quarter- Part of the Year consisting of a three month period
Recession- economic growth is negative for a period of two or more consecutive quarters