inflation - the general increase of prices of all goods/services over a period of time, deflation - the general decrease in the prices of goods/services over a period of time, budget deficit - when the cost of government programs exceeds (>) amount collected in taxes, budget surplus - when amount of taxes collected exceeds (>) the cost of government programs, borrower - a person who receives a loan, loan - a type of debt, usually money temporarily given to another person who will pay that money back , debt - what someone owes to someone else, lender - a person or business who loans money to borrowers,

Chapter 2 Content

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