EC Essentials Flashcards
Rollback and Recovery
Common in ONLINE REAL-TIME systems. An important backup procedure in which periodic snapshots are taken of a master file and, upon detection of a problem, the system reprocesses all transactions that have occurred since the snapshot
MARGINAL propensity to consume
measures the CHANGE in consumption spending as the percent of change in disposable income
AVERAGE propensity to consume
calculated by dividing consumer spending by disposable income
A graph that plots BETA would show the relationship between
Asset return and benchmark return
Product-possibility curve
measures the amount of various goods and services an economy can produce at a given time with available technology and efficient use of all available resources
Cartel
a group of firms that consipire to make price and output decisions for a product or service; it is overt collusion and illegal in the US. example OPEC
Objective of the International Monetary Fund
maintain order in the international monetary system by providing funds to countries in financial crisis. It can assist countries facing currency, banking, and financial debt crises.
Activity Slack (wrt PERT or CPM)
the maximum amount of time that an activity can be delayed without delaying the entire project
How is project completion time measured when using PERT?
by assigning a weighting of one for each of the optimistic and pessimistic estimates, a weighting of four for the most probable estimate, adding them together, then dividing by six
Simple moving average
Uses an average of a specfic number of the most recent periods’ actual values without adjusting those values, as a forecast for a future period or periods
