Gold standard: A monetary system in which currencies are defined in terms of a given weight of gold.

Gross domestic product: The total value of a nation's output, income, or expenditure produced within its physical boundaries.

Human capital: The health, strength, education, training, and skills that people bring to their jobs.

Imports: Goods or service that are produced in another country and sold domestically.

Income tax: An assessment levied by government on the net income of individuals and businesses. 117