Term Answer Description A steady, sustained increase in general price levels across economic sectors. Standard of living Business cycle A. This compensation is received in return for an employee's work effort and may include health, disability, and life insurance; retirement, pension, and profit-sharing plans; child and elder care; and/or educational assistance programs. This investment professional evaluates the personal finances of an individual or family and recommends strategies to set and achieve their long-term financial goals This term is used to characterize the value of a currency by describing the amount of goods and services that can be purchased by a dollar at a given time. Inflation tends to decrease this value. This is the percentage of each dollar of income, on average, that is spent for current needs and wants, rather than saved. B. Purchasing C. power Inflation D. E. Average propensity to consume Utility F. This economic term refers to the benefits, in usefulness and/or increased status, that consumption spending brings. This general term describes the wavelike pattern of rising and falling economic activity, consisting of expansions, peaks, contractions, and troughs. This term describes the medium of exchange used as a measure of the value of financial transactions Money G. Wealth H. Financial planner This facet of an individual's quality of life refers to his or her level of wealth, physical and psychological comfort, material goods, and necessities. I. Employee benefit . This term refers to the total value of all items owned by an individual or family, including financial and tangible (or physical) assets