1. Economic laws= Leyes económicas= is a set of legal rules for regulating economic activity.

2. Average household= Hogar promedio= refers to the average number of persons per
household.
3. Wage-earners= Asalariados= a person who works for wages or salary.
4. Governments= gobiernos= the governing body of a nation, state, or community.
5. family budgets= Presupuestos familiares= is when you make that plan for your whole
household. And the best family budgets include everyone in the family (at least to some
degree).
6. Ratio= Relación= the quantitative relation between two amounts showing the number of
times one value contains or is contained within the other.
7. Levied= Recaudado= (of a government or organization) to demand an amount of money,
such as a tax, from a person or organization.
8. Tax burden= Carga fiscal= the amount of tax paid by a person, company, or country in a
specified period considered as a proportion of total income in that period.
9. Economic policy= Política económica= covers a wide range of measures which
governments use to manage their economy. These include monetary policy (money supply
and demand), taxation, budget, job creation, etc.
10. “trickle-down-effect”= Efecto goteo= is a term used in marketing and advertising. It can
refer to the notion that fashion trends “trickle-down” from upper-class citizens to lower-
class citizens, or that as a product becomes widely adopted, the price falls.
11. Incentives= Incentivos= a thing that motivates or encourages one to do something.
12. Employment opportunities= Oportunidades de empleo= consideration for hire, hire,
transfer, promotion, training, and non-disciplinary retention, including in any
reorganization or layoff.
13. Conmmensurate=Conmensurar= Measure with equal or due proportion different things
14. Brain drain=Fuga de cerebros=Emigration abroad of outstanding people in scientific,
cultural or technical matters, to practice their profession there
15. Lucrative=Lucrativo=that produces profit
16. Unemployment=Desempleo=Situation of the person who is able to work but does not
have a job or has lost it.
17. International trade=El comercio internacional = economic activity in which people or
entities from different countries are involved
18. Hamstrung=Paralizado=Stop, hinder, impede the action and movement of something.
19. Inward investment=Inversión interna= It is the set of income balances and current
expenses of the different resident institutional sectors.
20. Foreign multinationals=Multinacionales extranjeras = a company based in one country,
which has subsidiaries that do business with a corporation or government in another
country
21. National output=Producción nacional=the set of producers of similar or directly
competitive goods that operate within the territory
22. Interchangeably=Indistintamente=Without there being a difference or regardless of the
difference that exists between one thing and another.
23. Gross domestic product=Producto interno bruto=It is the standard measure of value
added created by the production of goods and services in a country during a given period.
24. Long- run increases= Aumentos a largo plazo= The increase in productive capacity and
increases in TFP play a decisive role in long-term growth Something to keep in mind when
we look at the next ten years of growth

25. Drops= Gotas= A very small quantity of a material or immaterial thing.

26. Recessions= Recesiones= A recession is a decrease in economic activity over a period of

time. Generally, a recession is considered to exist when the rate of change in GDP is negative
for two consecutive quarters. It was commonly known as the "lean cow" period.

27. Unemployment rate= Tasa de desempleo= Also known as the unemployment rate,
measures the level of unemployment in relation to the active population.

28. Lack of job prospects= Falta de perspectivas laborales= Job Outlook shows you how many
job applicants there are in a particular category compared to the number of open positions.
While the BLS can estimate that a job will grow in the coming years, there may be a lack of
actual jobs available.

29. Classical unemployment= Desempleo clásico= An economy is said to have classical

unemployment when wages are excessive, since firms only hire workers if the real wages they
must pay them are less than their marginal productivity.

30. Fructional Unemployment= Desempleo friccional= is voluntary unemployment that lasts

for the time between a worker leaving one job and finding another.

31. Structural unemployment= Desempleo estructural= is that which is explained by changes

in the economic structure of one or more industries

32. Mismatch= Discordancia= Lack of correspondence or conformity of one thing with another.

33. Cyclical unemployment= Desempleo cíclico= is unemployment that is caused by

fluctuations in a country's economic activity.

34. Stagnates= Se estanca= Stop the march of a process or the development of a matter.

35. Price indexes= Indices de precios= is an index number calculated from the evolution of the
price level of an economy from a specific moment and for a specific period.