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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
Q

Economics

A

What is Optimal Production?

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26
Q

Economics

A

What is the result of a Price Floor?

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27
Q

Economics

A

What is GDP (Gross Domestic Product)?

28
Q

Economics

A

What is included under the income approach for calculating GDP?

29
Q

Economics

A

What is included under the Expenditure Approach for calculating GDP?

30
Q

Economics

A

What is Nominal GDP?

31
Q

Economics

A

For what is a GDP Deflator used?

32
Q

Economics

A

What is Real GDP?

33
Q

Economics

A

What is Gross National Product (GNP)?

34
Q

Economics

A

What is the Consumer Price Index (CPI)? How is it applied?

35
Q

Economics

A

How is disposable income calculated?

36
Q

Economics

A

How is Return to Scale calculated?

37
Q

Economics

A

When is the economy in Recession?

38
Q

Economics

A

What is a Depression?

39
Q

Economics

A

What are the stages of the Economic Cycle?

40
Q

Economics

A

What are leading indicators?

41
Q

Economics

A

What are lagging indicators?

42
Q

Economics

A

What are coincident indicators?

43
Q

Economics

A

Which people are included in the calculation of unemployment?

44
Q

Economics

A

What is Cyclical Unemployment?

45
Q

Economics

A

What is Frictional Unemployment?

46
Q

Economics

A

What is Structural Unemployment?

47
Q

Economics

A

How does inflation relate to unemployment?

48
Q

Economics

A

What is the Discount Rate?

49
Q

Economics

A

What is the Prime Rate?

50
Q

Economics

A

What is the Real Interest Rate?

51
Q

Economics

A

What is the Nominal Rate?

52
Q

Economics

A

What is the Risk-Free Rate?

53
Q

Economics

A

What is included in the M1 money supply?

54
Q

Economics

A

What is included in the M2 money supply?

55
Q

Economics

A

What is Deficit Spending?

56
Q

Economics

A

How can the Fed control the money supply?

57
Q

Economics

A

How does the Fed control economy-wide interest rates?

58
Q

Economics

A

What is a Tariff?

59
Q

Economics

A

What is a quota?

60
Q

Economics

A

How do international trade restrictions affect domestic producers?

61
Q

Economics

A

How to international trade restrictions affect foreign producers?

62
Q

Economics

A

How do international trade restrictions affect foreign consumers?

63
Q

Economics

A

How do international trade restrictions affect domestic consumers?

64
Q

Economics

A

What is Accounting Cost?

65
Q

Economics

A

What is Accounting Profit?

66
Q

Economics

A

What is Economic Cost?

67
Q

Economics

A

What is Economic Profit?

NINJA - BEC (9 decks)

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