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NINJA - BEC > Economics > Flashcards

Economics Flashcards

1
Q

Economics

A

How does a price increase affect supply?

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2
Q

Economics

A

What is a supply curve shift?

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3
Q

Economics

A

What are the characteristics of a positive supply curve shift (shift right)?

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4
Q

Economics

A

What are the characteristics of a negative supply curve shift (shift left)?

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5
Q

Economics

A

How does price affect the demand for an item?

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6
Q

Economics

A

What is a Demand Curve Shift?

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7
Q

Economics

A

What is a Positive Demand Curve Shift (Shift Right)?

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8
Q

Economics

A

What is a Negative Demand Curve Shift (Shift Left)?

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9
Q

Economics

A

What is the Marginal Propensity to Consume?

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10
Q

Economics

A

What is the Marginal Propensity to Save?

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11
Q

Economics

A

How is the multiplier effect calculated?

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12
Q

Economics

A

How does increased spending by consumers and the government affect the demand curve?

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13
Q

Economics

A

How does spending change due to the multiplier effect?

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14
Q

Economics

A

How is Price Elasticity of Demand calculated?

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15
Q

Economics

A

Under elastic demand- how does price affect revenues?

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16
Q

Economics

A

What conditions would indicate Elastic Demand?

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17
Q

Economics

A

How does revenue react to price under Inelastic Demand?

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18
Q

Economics

A

What conditions would indicate Inelastic Demand?

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19
Q

Economics

A

What is Unitary Demand?

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20
Q

Economics

A

How is Income Elasticity of Demand calculated?

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21
Q

Economics

A

What conditions occur under periods of inflation?

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22
Q

Economics

A

What happens under Demand-Pull inflation?

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23
Q

Economics

A

What happens under Cost-Push inflation?

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24
Q

Economics

A

What is the Equilibrium Price?

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25
Economics
What is Optimal Production?
26
Economics
What is the result of a Price Floor?
27
Economics
What is GDP (Gross Domestic Product)?
28
Economics
What is included under the income approach for calculating GDP?
29
Economics
What is included under the Expenditure Approach for calculating GDP?
30
Economics
What is Nominal GDP?
31
Economics
For what is a GDP Deflator used?
32
Economics
What is Real GDP?
33
Economics
What is Gross National Product (GNP)?
34
Economics
What is the Consumer Price Index (CPI)? How is it applied?
35
Economics
How is disposable income calculated?
36
Economics
How is Return to Scale calculated?
37
Economics
When is the economy in Recession?
38
Economics
What is a Depression?
39
Economics
What are the stages of the Economic Cycle?
40
Economics
What are leading indicators?
41
Economics
What are lagging indicators?
42
Economics
What are coincident indicators?
43
Economics
Which people are included in the calculation of unemployment?
44
Economics
What is Cyclical Unemployment?
45
Economics
What is Frictional Unemployment?
46
Economics
What is Structural Unemployment?
47
Economics
How does inflation relate to unemployment?
48
Economics
What is the Discount Rate?
49
Economics
What is the Prime Rate?
50
Economics
What is the Real Interest Rate?
51
Economics
What is the Nominal Rate?
52
Economics
What is the Risk-Free Rate?
53
Economics
What is included in the M1 money supply?
54
Economics
What is included in the M2 money supply?
55
Economics
What is Deficit Spending?
56
Economics
How can the Fed control the money supply?
57
Economics
How does the Fed control economy-wide interest rates?
58
Economics
What is a Tariff?
59
Economics
What is a quota?
60
Economics
How do international trade restrictions affect domestic producers?
61
Economics
How to international trade restrictions affect foreign producers?
62
Economics
How do international trade restrictions affect foreign consumers?
63
Economics
How do international trade restrictions affect domestic consumers?
64
Economics
What is Accounting Cost?
65
Economics
What is Accounting Profit?
66
Economics
What is Economic Cost?
67
Economics
What is Economic Profit?

NINJA - BEC (9 decks)

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