FSOT Master 10 Flashcards
Capital of Vanuatu
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Capital of Vatican City (Holy See)
NAME?
Capital of Venezuela
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Capital of Vietnam
NAME?
Capital of Yemen
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Capital of Zambia
NAME?
Capital of Zimbabwe
NAME?
Capri
Island in the bay of Naples in Southern Italy
Caspian sea
Salwater lake between Europe and Asia, bordered by Azerbaijan, Russia and Kazakhstan, Iran.
Caucasus
Mountain range extending from the Black Sea to the Caspian Sea.
channel
wide strait or waterway between two land masses that close to each other, deep part of a river or other waterway
Chechnya
Muslim region of Soutehrn Russia, which declared independence, but Russian troops blocked that.
cliff
steep, high wall of rock, earth or ice
Congo River
River of Central Africa, flowing through Congo to the Atlantic Ocean
continet
one of the seven large landmasses on the earth
Crimea
Peninsula in the extreme southern Ukraine in the Black Sea.
Danube
Source: Black Forest, Germany
Outflow: Black Sea
Danube River
Second longest European river through central and SE Europe.
Darling
Source: Eastern Highlands, Australia
Outflow: Murray River
Dead sea
Salt lake on the border between Israel and Jordan. Lowest point of dry land on earth.
delta
flat, low-lying land built up from soil carried downstream by a river a deposited at its mouth
divide
stretch of high land that seperates river systems
downstream
direction in witch a river or stream flows from its source to its mouth
Elbe river
River in central Europe, flowing from NW Czech to North sea
elevation
height of land above sea level
Equator
Imaginary line that runs around the earth halfway between south and north poles
Euphrates river
Flows through Turkey, Syria, Iraq and into the Persian gulf. Important to development of many great civilizations.
Ganges
Source: Himalayas
Outflow: Bay of Bengal
glacier
large, thick body of slowly moving ice
gulf
part of a large basin of water that extends into a shoreline, generally bigger than a bay
harbor
a sheltered place along the shoreline where ships can anchor safely
highland
elevated land area such as a hill, mountian, or plateau
hill
elevated land with sloping sides and rounded summit, generally smaller than a mountian
Indus
Source: Himalayan Mountains, Tibet
Outflow: Arabian Sea
island
land area, smaller than a continent, completely surrounded by water
isthmus
narrow stretch of land connecting two larger land areas
lake
a sizable inland body of water
Lake Victoria
Largest lake in Africa. It is on the Uganda, Tanzania, Kenya border.
latitude
distance north or south of equator, measured in degrees
Lena
Source: Baikal Mountains, Russia
Outflow: Arctic Ocean
longitude
distance east or west of the prime meridian, measured in degrees
lowland
land, usually level, at a low elevation
Mackenzie
Source: Finlay River, British Columbia
Outflow: Beaufort Sea
map
drawing of the earth shown on a flat surface
Mekong
Source: Tibetan Highlands
Outflow: South China Sea
meridian
one of many lines on the global grid running from the North pole to the South pole, used to measure degrees of longitude
mesa
broad, flat- topped landform with steep sides, smaller than a plateau
Mississippi
Source: Lake Itasca, Minnesota
Outflow: Gulf of Mexico
Missouri
Source: Confluence of Gallatin, Jefferson, and Madison rivers in Montana
Outflow: Mississippi River
mountain
land with steep sides that rises sharply 1,000ft or more, from a surrounding land, larger than a hill
mountain peak
pointed top a mountain
mountain range
a series of connected mountians
mouth
place where a stream or river flows into a larger body of water
Murray
Source: Australian Alps, New South Wales
Outflow: Indian Ocean
Name the 3 deserts of Africa from north to south.
Sahara, Namib, Kalahari
Name the capital and bordering countries / oceans of Canada.
Ottowa. North Pacific Ocean, Artic Ocean, Greenland (Denmark), Baffin Bay, Hudson Bay, Atlantic, U.S.
Name the capital and bordering countries of American Samoa.
Pago Pago. South Pacific Ocean. Near Samoa.
Name the capital and bordering countries of Andorra.
Andorra La Vella. Spain, France.
Name the capital and bordering countries of Angola.
Luanda. South Atlantic Ocean. Republic of the Congo, Democratic Republic of Congo, Zambia, Namibia.
Name the capital and bordering countries of Argentina.
Buenos Aires. Chile, Bolivia, Paraguay, Brazil, Uruguay, South Atlantic Ocean. Contains the Rio Parana.
Name the capital and bordering countries of Armenia.
Yerevan. Georgia, AZERBAIJAN, Iran, Turkey.
Name the capital and bordering countries of Australia.
Canberra. Indian Ocean and South Pacific Ocean, Near East Timor, Papa New Guinea, Indonesia.
Name the capital and bordering countries of Austria.
Vienna (on the Danube river). Germany, Czech Republic, Slovakia, Hungary, Slovenia, Italy, Switzedrland, Liechtenstein.
Name the capital and bordering countries of Azerbaijan.
Baku (on the Caspian Sea). Iran, Armenia, Georgia, Russia.
Name the capital and bordering countries of Bahrain.
Manama. In the Gulf of Bahrain (Persian Gulf) near Saudi Aurabia, Qatar.
Name the capital and bordering countries of Bangladesh.
Dhaka. India, Burma, and Bay of bengal (Indian Ocean). Contains Ganges , Meghna, and Jamuna Rivers.
Name the capital and bordering countries of Belarus.
Minsk. Russia, Ukraine, Poland, Lithuania, Latvia.
Name the capital and bordering countries of Belgium.
Brussels. North Sea, Netherlands, Germany, Luxembourg, France.
Name the capital and bordering countries of Belize.
Belmopan. Mexico, Guatemala, Caribbean sea.
Name the capital and bordering countries of Benin.
Porto Novo. Togo, Burkina Faso, Niger, Nigeria, Atlantic Ocean.
Name the capital and bordering countries of Bhutan.
Thimphu. China, India.
Name the capital and bordering countries of Bolivia.
La Paz. Chile, Peru, Brazil, Paraguay, Argentina.
Name the capital and bordering countries of Bosnia and Herzegovina.
Sarajevo. Croatia, Serbia and Montenegro, Adriatic Sea.
Name the capital and bordering countries of Botswana.
Gaborone. Angola, Zambia, Zimbabwe, South Africa, Namibia.
Name the capital and bordering countries of Brazil.
Brazilia. Uruguay, Argentina, Paraguay, Peru, Colombia, Venezuela, Guyana, Suriname, French Guiana, North Atlantic Ocean. Contains Amazon and Parana rivers.
Name the capital and bordering countries of Bulgaria.
Sofia. Romania (seperated by the Danube river), The Black Sea, Greece, Turkey, Serbia and Montenegro, Macedonia.
Name the capital and bordering countries of Burkina Faso.
Ouagadougou. Niger, Benin, Togo, Ghana, Cote d’Ivorie, Mali. Contains the Black Volta River.
Name the capital and bordering countries of Burma.
Rangoon. India, China, Laos, Thailand, Bay of Bengal (Indian Ocean)
Name the capital and bordering countries of Burundi.
Bujumbura. Rwanda, Democratic Republic of the Congo, Lake Tanganyika, Tanzania.
Name the capital and bordering countries of Cambodia.
Phnom Penh. Thailand, Laos, Vietnam, Gulf of Thailand (Indian Ocean). Contains the Mekong river.
Name the capital and bordering countries of Cameroon.
Yaounde. Nigeria, Chad, Central African Republic, Gabon, Republic of the Congo, Equitorial Guinea, Gulf of Guinea (Atlantic Ocean).
Name the capital and bordering countries of Central African Republic.
Bangui. Chad, Sudan, Democratic Republic of Congo, Cameroon, Republic of Congo.
Name the capital and bordering countries of Chad.
N’Djamena. Libya, C.A.R, Cameroon, Niger, Nigeria, Sudan. Contains Lake Chad.
Name the capital and bordering countries of Chile.
Santiago. South Pacific Ocean, Peru, Bolivia, Argentina, South Atlantic Ocean via Straight of Magellan.
Name the capital and bordering countries of China.
Beijing. Mongolia, Russsia, Vietnam, Burma, Laos, Bhutan, Nepal, India, Pakistan, Afghanistan, Tajikistan, Kyrgystan, Kazakhstan, North Korea, South China Sea, East China Sea, Yellow Sea, Sea of Japan. Contains, Yellow, Mekong, Pearl, and Yangtze rivers.
Name the Capital and bordering countries of Kenya.
Nairobi. Tanzania, Ethiopia, Somolia, Sudan, Uganda, Indian ocean, lake Victoria.
Name the Capital and bordering countries of Kuwait.
Kuwait. Saudi Arabia, Iraq, Persian Gulf. Near Iran.
Name the Capital and bordering countries of Kyrgystan.
Bishkek. Uzbekistan, China, Khazakstan, Tajikistan. Contains Naryn River.
Name the Capital and bordering countries of Laos.
Vientiane. Thailand (border is Mekong river), China, Vietnam, Cambodia, Burma.
Name the Capital and bordering countries of Latvia.
Riga. Estonia, Lituania, Baltic Sea, Russia, Belarus.
Name the Capital and bordering countries of Lebanon.
Beirut. Mediterranean Sea, Syria, Israel.
Name the Capital and bordering countries of Lebanon.
Beirut. Mediterranean Sea, Syria, Israel.
Name the Capital and bordering countries of Lesotho.
Maseru. South Africa.
Name the Capital and bordering countries of Liberia.
Monrovia. Sierra Leone, Cote d’Ivorie, Guniea, Atlantic Ocean.
Name the Capital and bordering countries of Libya.
Tripoli. Egypt, Sudan, Chad, Tunesia, Algeria, Niger, Mediterranean Sea.
Name the Capital and bordering countries of Liechtenstein.
Vaduz. Switzerland, Austria.
Name the Capital and bordering countries of Lithuania.
Vilnius. Russia, Latvia, Poland, Belarus, Baltic Sea.
Name the Capital and bordering countries of Luxembourg.
Luxembourg. Belgium, Germany, France.
Name the Capital and bordering countries of Macedonia.
Skopje. Serbia and Montenegro, Greece, Albania, Bulgaria. Contains Vardar river.
Name the Capital and bordering countries of Madagascar.
Antananarivo. Near Comoros in Indian ocean.
Name the Capital and bordering countries of Malawi.
Lilongwe. Zambia, Tanzania, Mozambique, Lake Nyasa. Contains Shire river.
Name the Capital and bordering countries of Malaysia.
Kuala Lumpur. Thailand, Brunei, Indonesia, Singapore. Near Vietnam and Philippines in South China Sea.
Name the Capital and bordering countries of Maldives.
Male. Near India in Indian Ocean.
Name the Capital and bordering countries of Mali.
Bamako. Guinea, Senegal, Algeria, Niger, Mauritania, Cote d’Ivorie, Burkina Faso. Contains Niger river.
Name the Capital and bordering countries of Malta.
Valletta. Mediterranean sea. Former UK colony, now EU member.
Name the Capital and bordering countries of Mauritania.
Nouakchott. Western Sahara, Mali, Algeria, Senegal (border is Senegal river), North Atlantic.
Name the Capital and bordering countries of Mexico.
Mexico City. United States, Guatemala, Belize, Pacific ocean, mediterranean sea.
Name the Capital and bordering countries of Moldova.
Chisinau. Romania, Ukraine.
Name the Capital and bordering countries of Mongolia.
Ulaanbaatar. China, Russia. Contains part of Gobi Desert.
Name the Capital and bordering countries of Morocco.
Casablanca. Western Sahara, Algeria, Spain, Atlantic ocean, mediterranean sea.
Name the Capital and bordering countries of Mozambique.
Maputo. Malawi, Zambia, Tanzania, Zimbabwe, Swaziland, South Africa, Indian Ocean, Lake Nyasa. Contains Zambezi River.
Name the Capital and bordering countries of Namibia.
Windhoek. Botswana, South Africa, Angola, Zambia, South Atlantic Ocean. Contains Kalahari and Namib Deserts.
Name the Capital and bordering countries of Nepal.
Kathmandu. China, India. Contains Mt. Everest.
Name the Capital and bordering countries of Netherlands.
Amsterdam. Belgium, Germany, North Sea.
Name the Capital and bordering countries of New Zealand.
Wellington. South Pacific Ocean near Australia.
Name the Capital and bordering countries of Nicaragua.
Managua. Costa Rica, Honduras, Mediterranean Sea, Pacific Ocean.
Name the Capital and bordering countries of Niger.
Niamey. Nigeria, Algeria, Libya, Chad, Burkina Faso, Benin, Mali, Contains Niger River And part of sahara desert.
Name the Capital and bordering countries of Nigeria.
Abuja. Chad, Niger, Cameroon, Benin, Gulf of Guinea (Atlantic Ocean). Contains Benue and Niger Rivers. Former English Colony. Member of OPEC.
Name the Capital and bordering countries of North Korea.
Pyongyang. Russia, China, South Korea, Sea of Japan (Pacific Ocean). Near Japan.
Name the Capital and bordering countries of Norway.
Oslo. Sweden, Finland, Russia, North Sea, Baltic Sea, Barents Sea.
Name the Capital and bordering countries of Oman.
Muscat. Saudi Arabia, Yemen, UAE, Persian Gulf, Arabian Sea.
Name the Capital and bordering countries of Pakistan.
Islamabad. Afghanistan, India, China, Iran, Arabian Sea (Indian Ocean), Contains Indus River.
Name the Capital and bordering countries of Panama.
Panama City. Colombia, Costa Rica, mediterranean Sea, Pacific Ocean. Contains Panama Canal.
Name the Capital and bordering countries of Papua New Guinea.
Port Moresby. Indonesia, Coral Sea (Pacific Ocean). Near Australia.
Name the Capital and bordering countries of Paraguay.
Asuncion. Brazil (Rio Parana forms part of border), Argentina, Bolivia.
Name the Capital and bordering countries of Peru.
Lima. Pacific Ocean. Equador, Colombia, Bolivia, Chile, Brazil. Contains source of Amazon River and Lake Titicaca.
Name the Capital and bordering countries of Philippines.
Manila. South Pacific Ocean. Near Malaysia, Indonesia, China, Taiwan.
Name the Capital and bordering countries of Poland.
Warsaw. Baltic Sea, Russia, Belarus, Germany, Czech Republic, Slovakia, Ukraine, Lithuania. Contains Vistula and Oder Rivers.
Name the Capital and bordering countries of Portugal.
Lisbon. Spain, Atlantic Ocean.
Name the Capital and bordering countries of Puerto Rico.
San Juan. Atlantic Ocean and Mediterranean Sea. Spanish colony ceded to US after spanish-american war.
Name the Capital and bordering countries of Qatar.
Doha. Saudi Arabia, Bahrain, UAE, Persian Gulf.
Name the Capital and bordering countries of Romania.
Bucharest. Hungary, Ukraine, Bulgaria, Black Sea, Moldova, Serbia and Montenegro (across Danube River).
Name the Capital and bordering countries of Russia.
Moscow. China, Mongolia, Ukraine, Kazakistan, Belarus, Finland, Norway, Lithuania, Estonia, Latvia, Georgia, Azerbaijan. Near Japan.
Name the Capital and bordering countries of Rwanda.
Kigali. Uganda, Brundi, DPR Congo, Tanzania, lake Kivu.
Name the Capital and bordering countries of Sao Tome and Principe.
Sao Tome. Gulf of Guinea near Equitorial Guinea.
Name the Capital and bordering countries of Saudi Arabia.
Riyadh. Yemen, Oman, UAE, Qatar, Kuwait, Iraq, Jordan, Persian Gulf, Red Sea. Near Israel, Egypt, Iran, Eritrea, Sudan.
Name the Capital and bordering countries of Senegal.
Dakar. The Gambia, Mali, Mauritania, Guinea, Guinea-Bissau, Atlantic Ocean. Former French Colony liberated 1960.
Name the Capital and bordering countries of Serbia and Montenegro.
Belgrade. Bosnia and Hertzegovina, Croatia, Albania, Hungary, Romania, Bulgaria, Macedonia, Adriatic Sea. Part of former Yugoslavia, contains Kosovo and the Danube, Save, and Drina Rivers.
Name the Capital and bordering countries of Seychelles.
Victoria. In Indian ocean near Comoros, Madagascar. Independant from UK in 1976.
Name the Capital and bordering countries of Sierra Leone.
Freetown. Liberia, Guinea, Atlantic Ocean. Former UK Colony freed in 1961.
Name the Capital and bordering countries of Singapore.
Singpore. Malaysia, Indian Ocean, Indonesia (across Singapore Strait). Freed from UK in 1963.
Name the Capital and bordering countries of Slovakia.
Bratislava. Czech Republic, Poland, Ukraine, Austria, Hungary (Danube river forms partial border), Contains Vah river.
Name the Capital and bordering countries of Slovenia.
Ljubljana. Italy, Austria, Croatia, Hungary, Gulf of Venice (Adriatic Sea).
Name the Capital and bordering countries of Somalia.
Mogadishu. Ethiopia, Djibouti, Kenya, Red Sea, Indian Ocean.
Name the Capital and bordering countries of South Africa.
Pretoria. Swaziland, Lesotho, Namibia, Botswana, Zimbabwe, Mozambique. Free from UK in 1910, republic in 1961.
Name the Capital and bordering countries of South Korea.
Seoul. North Korea, Sea of Japan (Pacific Ocean). Near Japan, China, Russia.
Name the Capital and bordering countries of Spain.
Madrid. Portugal, France, Andorra, Morocco, Pacific Ocean, Mediterranean Sea, Gibraltar (UK outpost), contains Tagus River.
Name the Capital and bordering countries of Sri Lanka.
Colombo. Bay of Bengal (Indian Ocean)near India and Maldives.
Name the Capital and bordering countries of Sri Lanka.
Colombo. Bay of Bengal (Indian Ocean)near India and Maldives.
Name the Capital and bordering countries of Sudan.
Khartoum. Egypt, Libya, Chad, CAR, DPR Congo, Uganda, Kenya, Eritria, Ethiopia, Red Sea. Contains Nile River (White and Blue forks).
Name the Capital and bordering countries of Suriname.
Paramaribo. French Guiana, Brazil, Guyana, North Atlantic Ocean.
Name the capital and bordering countries of The Bahamas.
Nassau. In North Atlantic ocean near US (florida) and Cuba.
Name the capital and countries that border Albania.
Tirana. Adriatic Sea, Serbia & Montenegro, Macedonia, Greece.
Name the capital and countries that border Algeria.
Algiers. Mediterranean Sea, Tunesia, Libya, Niger,Mali, Mauritania, Western Sahara, Morocco.
Name the Capital and neighboring countries of Colombia.
Bogota. Caribbean Sea, Venezuela, Brazil, Panama, Ecuador, Peru, Pacific Ocean. Amazon River forms part of the border with Peru.
Name the Capital and neighboring countries of Costa Rica.
San Jose. Nicaragua, Panama, Caribbean Sea, Pacific Ocean.
Name the Capital and neighboring countries of Cote d’Ivorie.
Yamoussoukro. Ghana, Burkina Faso, Liberia, Atlantic Ocean, Guinea, Mali.
Name the Capital and neighboring countries of Croatia.
Zagreb. Slovenia, Adriatic Sea, Sebia and Montenegro (Danube river forms the border), Bosnia and Herzegovina, Hungary.
Name the Capital and neighboring countries of Czech Republic.
Prague. Germany, Slovakia, Poland, Austria. Contains the Elbe river.
Name the Capital and neighboring countries of Democratic Republic of the Congo.
Kinshasa. Republic of the Congo (Congo River makes a large part of the border), Angola, Tanzania (across lake Tanganyika), Rwanda, Brundi, C.A.R., Uganda, Sudan, Zambia. Contains Lualaba river.
Name the Capital and neighboring countries of Denmark.
Copenhagen. North Sea, Baltic Sea, Germany, cose to Sweden.
Name the capital and neighboring countries of Djibouti.
Djibouti. Eritrea, Somolia, Ethiopia, Red Sea.
Name the capital and neighboring countries of East Timor.
Dili. Indonesia, Timor Sea, Banda Sea (south Pacific Ocean).
Name the capital and neighboring countries of Ecuador.
Quito. Columbia, Peru, Pacific Ocean.
Name the capital and neighboring countries of Egypt.
Cairo. Israel, Gaza Strip, Saudi Arabia (across red sea), Jordan, Sudan, Libya, Mediterranean sea.
Name the capital and neighboring countries of El Salvador.
San Salvador. Honduras, Guatemala, Pacific Ocean.
Name the capital and neighboring countries of Equatorial Guinea.
Malabo. Cameroon, Gabon, Gulf of Guinea.
Name the capital and neighboring countries of Eritrea.
Asmara. Red Sea, Sudan, Djibouti, Ethiopia.
Name the capital and neighboring countries of Estonia.
Tallinn. Baltic Sea, Latvia, Russia, Finland (across gulf of Finland).
Name the capital and neighboring countries of Ethiopia.
Addis Ababa. Sudan, Djibouti, Eritrea, Somolia, Kenya. Contains source of the Blue Nile & the great rift valley.
Name the capital and neighboring countries of Fiji.
Suva. South Pacific Ocean.
Name the capital and neighboring countries of Finland.
Helinski. Russia, North Sea, Sweden, Norway, Estonia (across gulf of Finland), Baltic Sea.
Name the capital and neighboring countries of France.
Paris (on the Seine river). Belgium, Luxembourg, Germany (Rhine river forms part of the border), Switzerland, Italy, Spain, Andorra, English Channel (North Atlantic), Mediterranean Sea. Also contains the Rhone river.
Name the capital and neighboring countries of French Guiana.
Cayenne. North Atlantic Ocean, Suriname, Brazil. The only non-independant state in South America.
Name the capital and neighboring countries of French Polynesia.
Papeete. South Pacific ocean. France conducted nuclear tests here as recently as 1996.
Name the capital and neighboring countries of Gabon.
Libreville. Atlantic Ocean, Equitorial Guiana, Cameroon, Republic of the congo.
Name the capital and neighboring countries of Gabon.
Libreville. Atlantic Ocean, Equitorial Guiana, Cameroon, Republic of the congo.
Name the capital and neighboring countries of Georgia.
Tblisi (on the Mlkvari River). Russia (across the caucas mountains), Black Sea, Armenia, Turkey, Azerbaijan.
Name the capital and neighboring countries of Germany.
Berlin (on the Elbe river). Poland, France, Czech Republic, Switzerland, Austria, Denmark, Neatherlands, Belgium, Luxembourg, North Sea, Baltic Sea. Also contains the Danube and Rhine rivers.
Name the capital and neighboring countries of Ghana.
Accra. Togo, Cote d’Ivorie, Burkina Faso, Gulf of Guinea (Atlantic). Contains Lake Volta.
Name the capital and neighboring countries of Greece.
Athens. Macedonia, Albania, Turkey, Bulgaria, Ionian Sea, Aegean Sea, Sea of Crete, Mediterranean Sea.
Name the capital and neighboring countries of Guatemala.
Guatemala City. Mexico, Honduras, El Salvador, Belize, Pacific Ocean, Mediterranean Sea.
Name the capital and neighboring countries of Guinea.
Conakry. Senegal, Guinea-Bissau, Mali, Sierra Leone, Liberia, Cote d’Ivorie, Atlantic Ocean. Contains the Niger River.
Name the capital and neighboring countries of Guinea-Bissau.
Bissau. Senegal, Guinea, Atlantic Ocean.
Name the capital and neighboring countries of Guyana.
Georgetown. Venezuela, Suriname, Brazil, Atlantic Ocean.
Name the Capital and neighboring countries of Italy.
Rome. Monaco, France, Switzerland, Austria, Slovenia, Mediterranean Sea. Contains Po river.
Name the Capital and neighboring countries of Jamaica.
Kingston. Carribean sea.
Name the Capital and neighboring countries of Japan.
Tokyo. Pacific ocean, near korea, russia, china.
Name the Capital and neighboring countries of Jordan.
Amman. Israel, Syria, Iraq, Saudi Arabia, Red Sea. Contains Dead Sea and Jordan River.
Name the Capital and neighboring countries of Kazakhstan.
Astana. Uzbekistan, Turkmenistan, Kyrgystan, Russia, China, Caspian Sea. Contains Aral sea, Ertis river.
Name the Capital and neighboring countries of Republic of the Congo.
Brazzaville. South Atlantic Ocean, Angola, Democratic Republic of Congo (most of border is Congo River), Cameroon, Equitorial Guinea, C.A.R.
Name the capital and neighboring countries of Sweden.
Stockholm. Norway, Finland, Baltic Sea, Near Denmark.
Name the capital and neighboring countries of Switzerland.
Bern. Italy, France, Germany, Liechtenstein, Austria. Contains the Rhine river.
Name the capital and neighboring countries of Syria.
Damascus. Lebanon, Turkey, Israel, Jordan, Iraq, Mediterranean Sea. Contains Euphrates river, small bit of Tigris river.
Name the capital and neighboring countries of Tajikistan.
Dushanbe. Kyrgyzstan, Uzbekistan, China, Afghanistan.
Name the capital and neighboring countries of Tanzania.
Dar es Salaam. Kenya, Burundi, Mozambique, Zambia, Malawi, Rwanda, Uganda, DPR Congo, Lake Victoria, Indian Ocean, Lake Nyasa.
Name the capital and neighboring countries of Thailand.
Bangkok. Burma, Cambodia, Laos, Malaysia, Gulf of Thailand (South China Sea), Strait of Malacca, contains Mekong River.
Name the capital and neighboring countries of the Dominican Republic.
Santo Domingo. Haiti, North Atlantic Ocean, Caribbean Sea.
Name the capital and neighboring countries of The Gambia.
Banjul. Senegal, Atlantic Ocean. Contains the Gambia river delta.
Name the capital and neighboring countries of the United Arab Emirates.
Abu Dhabi. Saudi Arabia, Oman, Persian Gulf, near Qatar.
Name the capital and neighboring countries of the US Virgin Islands.
Charlotte Amalie. North Atlantic Ocean and Caribbean Sea.
Name the capital and neighboring countries of Togo.
Lome. Burkina Faso, Benin, Ghana, Gulf of Guinea (Atlantic Ocean).
Name the capital and neighboring countries of Tunisia.
Tunis. Libya, Algeria, Mediterranean Sea. Independent from france in 1956. Best arab nation on womens rights.
Name the capital and neighboring countries of Turkey.
Ankara. Greece, Bulgaria, Syria, Iraq, Turkmenistan, Georgia, Armenia, Iran, Azerbaijan, Black Sea, Mediterranean Sea, Aegean Sea, Bosporus Strait, Dardanelles, contains source of Tigris and Euphrates rivers.
Name the capital and neighboring countries of Turkmenistan.
Ashgabat. Iran, Afghanistan, Uzbekistan, Kazakhstan, Caspian Sea, Amu Darya River.
Name the capital and neighboring countries of Uganda.
Kampala. DPR Congo, Rwanda, Lake Victoria, Sudan, Tanzania, Kenya, Victoria branch of the Nile River. Independant from the UK in 1962.
Name the capital and neighboring countries of Ukraine.
Kiev. Romania, Russia, Moldova, Slovakia, Hungary, Poland, Belarus, the Black Sea.
Name the capital and neighboring countries of Uruguay.
Montevideo. Brazil, Argentina, Atlantic Ocean, Rio Negro.
Name the capital and neighboring countries of Uzbekistan.
Tashkent. Kazakistan, Turkmenistan, Kyrgyzstan, Tajikistan, Afghanistan, Aral Sea.
Name the capital and neighboring countries of Venezuela.
Caracas. Colombia, Brazil, Guyana, Mediterranean Sea, Trinidad and Tobago, Aruba, Grenada, Barbados.
Name the capital and neighboring countries of Vietnam.
Hanoi. China, Laos, Cambodia, South China Sea.
Name the capital and neighboring countries of Western Sahara.
Morocco, Mauritania, Algeria, Atlantic Ocean. It is currently claimed by Morocco and has no capital.
Name the capital and neighboring countries of Yemen.
Sanaa. Saudi Arabia, Oman, Red Sea, Djibouti, Eritrea, Somolia, Arabian Sea (Indian Ocean).
Name the capital and neighboring countries of Zambia.
Lusaka. DPR Congo, Malawi, Angola, Botswana, Nambia, Zimbabwe, Mozambique, Tanzania, contains Zambezi river. Independant from UK in 1964.
Name the capital and neighboring countries of Zimbabwe.
Harare. Malawi, Zambia, Mozambique, Botswana, South Africa. Independant from UK circa 1961.
Name the capital and neighboring countries of Zimbabwe.
Harare. Malawi, Zambia, Mozambique, Botswana, South Africa. Independant from UK circa 1961.
Name the countries that feed into the Amazon River.
Brazil, Peru, Bolivia, Colombia, Ecuador, Venezuela
Name the countries that feed into the Nile River.
Sudan, Ethiopia, Egypt, Uganda, Tanzania, Kenya, Rwanda, Burundi, Eritrea, Democratic Republic of the Congo
Nile
Source: Lake Victoria, Africa
Outflow: Mediterranean Sea
North sea
Part of Atlantic, NW of Central Europe
ocean
one of the four major bodies of salt water that surround the continents
ocean current
stream of either cold or warm water that moves in a definite direction through an ocean
Orinoco
Source: Serra Parima Mountains in Venezuela
(Serra Parima, Portuguese; Sierra Parima, Spanish)
Outflow: Atlantic Ocean
peninsula
body of land jutting into a lake or ocean surrounded on three sides by water
physical feature
characteristic of a place occuring naturally, such as a landform, body of water, climate pattern, or resource
plain
area of land, usually at low elevation and often covered with grasses
plateau
area of flat or rolling land at high elevation, about 300 to 3,000 feet high
prime meridian
line of the global grid running from the North to South pole
Prussia
Former state in North Central Germany. Once stretched from Netherlands to Lithuania.
Purus
Source: Andes Mountains of Peru
Outflow: Amazon River
relief
changes in elevation over a given area of land
Rhine river
Alps, bordering France and Germany and ending in North Sea.
Rhone River
From Geneva, south to Marseilles
Rio Grande
Source: San Juan Mountains, Colorado
Outflow: Gulf of Mexico
river
large natural stream of water that runs through the land
Ruhr Valley
West-central Germany. Its main industrial region
sea
large body of water completely or partly surrounded by land
seacoast
land lying next to a sea or an ocean
sound
broad inland body of water, often between a caostline and one or more islands off the coast
source
(of a river) place where a river or stream begins, often in highlands
St. Lawrence
Source: Lake Ontario
Outflow: Gulf of St. Lawrence
strait
narrow stretch of water joining two larger bodies of water
Strait of Magellan
Strait separating South America from Tierra del Fuega and other Islands south of the continent.
Thames river
Longest river in England, through Southern England, London to North Sea
tributary
small river or stream that flows into a large river or stream a branch of the river
upstream
direction opposite the flow of a river, toward the source of a river or stream
valley
area of low land usually between hills or mountains
volcano
mountain or hill created as liquid rock and ash erupt from inside the earth
Volga
Source: Valdai Plateau, Russia
Outflow: Caspian Sea
Western Wall
Wall in old city of Jerusalem, formed part of the Temple of Soloman. Visited by Jews as holy place.
What are The Narrows?
The entrance to New York Harbor.
What body of water does the Danube drain into?
The Black Sea.
What countries feed into the Brahmaputra River?
India (58.0%), P.R. China (19.7%), Nepal (9.0%), Bangladesh (6.6%), Disputed India/P.R. China (4.2%), Bhutan (2.4%)
What countries feed into the Congo River?
Democratic Republic of the Congo, Central African Republic, Angola, Republic of the Congo, Tanzania, Cameroon, Zambia, Burundi, Rwanda
What countries feed into the Danube River?
Romania (28.9%), Hungary (11.7%), Austria (10.3%), Serbia and Montenegro (10.3%), Germany (7.5%), Slovakia (5.8%), Bulgaria (5.2%), Bosnia and Herzegovina (4.8%), Croatia (4.5%), Ukraine (3.8%), Czech Republic (2.6%), Slovenia (2.2%), Moldova (1.7%), Switzerland (0.32%), Italy (0.15%), Poland (0.09%), Albania (0.03%)
What countries feed into the Mekong River?
Laos, Thailand, P.R. China, Cambodia, Vietnam, Myanmar
What countries feed into the Niger River?
Nigeria, Mali, Niger, Algeria, Guinea, Cameroon, Burkina Faso, Côte d’Ivoire, Benin, Chad
What countries have access to the Black Sea?
Romania, Bulgaria, Turkey, Georgia, Russia, Ukraine
What countries have access to the Caspian Sea?
Russia, Kazakhstan, Turkmenistan, Iran, Azerbaijan. Russia’s Volga river and a canal system links it to the Black Sea.
What countries have access to the Dead Sea?
It is on the border between the West Bank, Israel, and Jordan.
What is the Capital and neighboring countries of Haiti?
Port-au-Prince. Domincan republic, Atlantic ocean, mediterranean sea, near Cuba.
What is the Capital and neighboring countries of Honduras?
Tegucigalpa. Pacific ocean, mediterranean sea, nicaragua, Guatemala, El Salvador.
What is the Capital and neighboring countries of Hungary?
Budapest. Austria, Slovakia, Slovenia, Serbia and montenegro, Romania, Croatia, Ukraine. Contains Danube and Tisza rivers.
What is the Capital and neighboring countries of India?
New Delhi. Pakistan, China, Nepal, Bhutan, Burma, Bangladesh, Bay of Bengal and Arabian sea (Indian Ocean). Contains Ganges and Indus rivers.
What is the Capital and neighboring countries of Indonesia.
Jakarta. Malaysia, East Timor, Indian Ocean, Pacific ocean, Papua New Guinea, near Brunei, Australia and Phillipines.
What is the Capital and neighboring countries of Iran.
Tehran. Pakistan, Iraq, Persian Gulf,(Indian Ocean), Caspian Sea, Afghanistan, Turkistan, Azerbaijan, Armenia. Near Kuwait, Oman, Saudi Arabia, Bahrain, Qatar, UAE.
What is the Capital and neighboring countries of Iraq.
Baghdad. Jordan, Kuwait, Iran, Saudi Arabia, Turkey, Syria, Persian Gulf. Contains Euphrates and Tigris rivers.
What is the Capital and neighboring countries of Ireland.
Dublin. North Ireland (UK), North Atlantic ocean. Near Whales (across irish sea)
What is the Capital and neighboring countries of Israel.
Israel says Jerusalem, most of the world says Tel Aviv. Mediterranean Sea, Lebanon, Syria, Jordan, Egypt, Red Sea.
What is the capital of Afghanistan?
Kabul
What is the Korea Strait?
It seperates Korea from Japan, is part of Pacific Ocean. Numerous international shipping lanes pass through the strait, including those carrying much of the traffic bound for the ports of southern South Korea. Both South Korea and Japan have restricted their territorial claims in the strait to 3 nautical miles from shore, so as to permit free passage through it. Passenger ferries ply numerous routes across the strait.
What is the longest river in Asia?
The, Yangtze River, with its mouth at Shanghai. It is the third longest in the world after the amazon and the nile.
What is the second longest river in the world?
The nile. Only the amazon is longer.
What is the territorial signifigance of the Yalu River?
The Amnok River, or the Yalu River, is a river on the border between China and North Korea.
What is the world’s largest desert?
Antartica. The largest hot desert is the Sahara in North Africa, which is the size of the U.S.
What natural features border the Gobi Desert?
The desert basins of the Gobi are bounded by the Altay Mountains and the grasslands and steppes of Mongolia on the north, by the Tibetan Plateau to the southwest, and by the North China Plain to the southeast.
What river expels the most water / second?
The Amazon
What rivers drain into the gulf of Guinea?
Volta, Congo, and Niger.
Where are the Dardanelles?
This strait connects the sea of Mamara to the Mediterranean. It is a passageway for oil coming from the Black Sea. It was the site of the Trojan and Crimean Wars.
Where are the Ural Mountains?
Western Russia.
Where does the Pearl river meet the sea?
Pearl River, is China’s third longest river (2,200 km, after the Yangtze River and the Huang He), and second largest by volume (after the Yangtze). Located in the south, it flows into the South China Sea between Hong Kong and Macau. Its lower reach forms the Pearl River Delta.
Where is Sevastopol?
On the Crimean peninsula on the Black Sea in Ukraine.
Where is the Barents Sea?
To the North East of Finland, bordering the Artic.
Where is the Bosphorus straight?
Located at Istanbul, it connects the Black Sea to the Sea of Mamara, and eventually to the Mediterranean.
Where is the Golden Horn?
Istanbul.
Where is the White Sea?
The White Sea (Бе́лое мо́ре) is an inlet of the Barents Sea on the North Western coast of Russia. It is surrounded by Karelia to the west, and the Kola peninsula to the north. The important port of Arkhangelsk is located on the White Sea. For much of Russia’s history this was Russia’s main centre of international maritime trade.
Where is the Yellow River
In Northeast China, the mouth is a bit south of Beijing. It is the 7th largest river in the world, running west to east, and draining into the Bohai Sea.
Yangtze (Chang Jiang)
Source: Tibetan Plateau, China
Outflow: China Sea
Yukon
Source: Confluence of Lewes and Pelly rivers, Yukon Territory
Outflow: Bering Sea
of Federal Reserve district banks
12 (with a total of 25 branches)
_______ are the two macro factors that seem to underlie the trend toward greater globalization.
The decline in barriers to the free flow of goods, services, and capital
Technological change
_______ is the basic message of the theory of comparative advantage.
It makes sense for a country to specialize in the production of those goods that it produces most efficiently and to buy the goods that it products less efficiently from other countries, unless this means buying goods from other countries that it could produce more efficiently itself
_______ theory of international trade suggests that the production of products is likely to switch from advanced countries to developing countries over time.
Product life-cycle
3 core Classical Trade Theories?
Absolute advantage (natural and acquired)
Comparative advantage (David Ricardo)
Factor Proportions theory ( Heckscher & Ohlin).
Some empirical contradictions (Leontif).
45 degree reference line
the line along which planned real expenditures equal real GDP per year
5 functions of the Fed?
The Federal Reserve Board controls the supply of money, sets the discount rate, performs open market operations, regulates banks and other financial institutions, and supervises the FDIC.
A binding price ceiling is always _________ the price floor.
A binding price ceiling is always below the price floor.
A change in price of the specific good in question….
A. Causes the demand curve to shift
B. Causes a movement along the demand curve
B. A change in the price leads to a movement ALONG the demand curve.
A decrease in demand for a product causes the demand curve to shift left or right?
LEFT
A decrease in supply shifts the supply curve right or left?
LEFT
Above the mid-point on a straight-line demand curve, demand is ___________
Elastic
Absolute advantage
One person has an absolute advantage over another if he or she takes fewer hours to perform a task than the other person.
accelerator effect in economics?
The accelerator effect in economics refers to a positive effect on private fixed investment of the growth of the market economy (measured e.g. by Gross Domestic Product). Rising GDP (an economic boom or prosperity) implies that businesses in general see rising profits, increased sales and cash flow, and greater use of existing capacity. This usually implies that profit expectations and business confidence rise, encouraging businesses to build more factories and other buildings and to install more machinery. (This expenditure is called fixed investment.) This may lead to further growth of the economy through the stimulation of consumer incomes and purchases, i.e., via the multiplier effect.
Accommodating policy
A policy that allows the effects of a shock to occur.
According to former Secretary of Labor Robert Reich, the propensity of firms to outsource many of their productive activities to different suppliers around the world has resulted in the creation of __________ products.
global
According to our textbook, the growing integration of the world economy is:
increasing the intensity of competition in a wide range of manufacturing and service industries
According to Smith, countries should specialize in the production of goods for which they have an absolute advantage and then:
prohibit the import of these goods from other countries
According to the ______ argument, many developing countries have a potential comparative advantage in manufacturing, but new manufacturing industries there cannot initially compete with well-established industries in developed countries. To allow manufacturing to get a toehold, the argument is that governments should temporarily support new industries (with tariffs, import quotas, and subsidies) until they have grown strong enough to meet international competition.
mature industry
According to the author of the textbook, tariffs benefit the following two groups:
producers and consumers.
According to the textbook, FDI is expensive because
a firm must establish production facilities in a foreign country or acquire a foreign enterprise.
Accounting cost
Actual expense plus depreciation charges for capital equipment
Accounting profit
The difference between a firm’s total revenue and its explicit costs.
Acquisition
A transaction in which a company buys another company and the purchaser has the right of direct control over the resulting operation.
action time lag
time between recognizing an economic problem and implementing policy to sole it; particularly long for fiscal policy (requires congressional approval)
actual change in money supply
actual money multiplier X change in total reserves
ad valorem tariff?
A Tariff based on a percentage of the price of a good.
Adam Smith
father of modern economics, introduced the
notion of the `invisible hand’
Adverse Selection
Form of market failure resulting when products of different qualities are sold at a signle price because of asymmetric information, so that too much of the low-uality product and too little of the igh-quality product are sold. An example: The pattern in which insurance tends to be purchased disproportionately by those who are most costly for companies to insure.
Affregate demand (AD) curve
A curve that shows how a change in the price level will change aggregate expenditures on all goods and services in an economy.
Aggregate Demand
A schedule or graph that shows the value of output (real GDP) that would be demanded at different price levels.
Aggregate Demand Management
Government’s attempt to control the aggregate level of spending in the economy.
Aggregate Expenditures
The total amount of spending on final goods and services in the economy; consumption ( spend-ing by consumers), investment ( (spend-ingbyconsumers),investment( spending by business), spending by government, and net foreign spending on U. S. goods ( the difference between U. S. exports and U. S. imports).
Aggregate Production
The total amount of goods and services produced in every industry in an economy.
Aggregate supply shock
Either an inflation shock or a shock to potential output; adverse aggregate supply shocks of both types reduce output and increase inflation.
Aggregated Supply
A schedule (or graph) that shows the value of output(real GDP) that would be produced at different price levels. In the long run, the schedule shows a constant level of real GDP at all price levels, determined by the economy’s productive capacity at full employment. In the short run, the aggregate supply schedule may show different levels of real GDP as the price level changes.
Aggregation
The adding up of individual economic variables to obtain economy-wide totals.
Allocative function of price
Changes in prices direct resources away from overcrowded markets and toward markets that are underserved.
An alleged example of __________ occurred in 1997, when two Korean manufacturers of semiconductors, LG Semicon and Hyundai Electronics, were accused of selling dynamic random access memory chips in the U.S. market at below unit delivered cost to market.
dumping
An increase in demand for a product causes the demand curve to shift left or right?
RIGHT
An increase in supply shifts the supply curve which way?
RIGHT
Anchored inflationary expectations
When people’s expectations of future inflation do not change even if inflation rises temporarily.
anti-dumping policies?
The policy against a practice of charging a very low price in a foreign market for such economic purposes as putting rival suppliers out of business.
Antitrust Laws
Rules and regulations prohibiting actions that restrain, or are likely to restrain, competition
Appreciation
An increase in the value of a currency relative to other currencies.
Approximately 95 percent of the changes that countries have made pertaining to foreign direct investment regulations have:
made it easier for foreign companies to enter their markets
As the market in the U.S. and other advanced nations matures, the product becomes more standardized and price becomes:
the main competitive weapon.
asset demand
holding money as a store of value instead of other assets such as certificates of deposit, corporate bonds, and stocks
asset utilization ratio?
A measure of how well a firm uses its assets to generate $1 in sales.
assets
amounts owned; all items to which a business or hosuehold holds legal claim
assumption # 1 for balance sheets
required reserve ratio is 10% for all transaction deposits
assumption #2 for balance sheets
transaction deposits are the bank’s only liabilities; reserves at a Federal Reserve district bank and loans are the bank’s only assets
assumption #3 for balance sheets
an individual bank can lend as much as it is legally allowed
assumption #4 for balance sheets
every time a loan is made to an individual (consumer or business), all the proceeds from the loan are put into a transaction deposit account; no cash is withdrawn
assumption #5 for balance sheets
depository institutions seek to keep zero excess reserves because reserves do not earn interest
assumption #6 for balance sheets
depository institutions have zero net worth
Asymmetric information
Situations in which buyers and sellers are not equally well informed about the characteristics of goods and services for sale in the marketplace.
Attainable point
Any combination of goods that can be produced using currently available resources.
Austrian school of economics?
It is is a school of economic thought that rejects opposing economists’ reliance on methods used in natural science for the study of human action, and instead bases its formalism of economics on relationships through logic or introspection called “praxeology”. It is a subset of classical liberal school of economics. Friedrich Hayek was a famous member.
Autarky
A situation in which a country is economically self-sufficient; that is, it does not trade with other nations.
Automatic Stabilizer
Any government program or policy that will counteract the business cycle without any new government action.
automatic transfer accounts
funds are automatically transferred from savings deposits to transactions depsits whenever the account holder makes a debit-card transaction or writes a check that would otherwise cause the balance of transactions deposits to become negative
autonomous consumption
the part of consumption that is independent of the level of disposable income; changes in autonomous consumption shift the consumption function
Autonomous expenditure
The portion of planned aggregate expenditure that is independent of output.
Average benefit
Total benefit of undertaking n units of an activity divided by n.
Average cost
Total cost of undertaking n units of an activity divided by n.
Average expenditure
Price paid per unit of good
Average Fixed Cost
Fixed cost divided by quanitity produced.
Average labor productivity
Output per employed worker.
Average Product
Output per worker.
average propensity to consume (APC)
the proportion of total real disposable income that is consumed
average propensity to save (APS)
the proportion of total real disposable income that is saved
Average tax rate
Total taxes divided by total before-tax income.
Average total cost (ATC)
Total cost divided by total output.
Average variable cost (AVC)
Variable cost divided by total output.
Backward Vertical FDI?”
choosing to invest in economic activity upstream from the core business activity of the business unit.
Balance of Payments (BOP)?
A measure of how much money is going into or out of a country. If it is coming in, it is a positive balance. The BOP consists of the current, capital, and reserve accounts.
Balance of Trade
The difference between the value of the goods and services a country imports and the value of the goods and services it exports.
Balance sheet
A list of an economic unit’s assets and liabilities on a specific date.
balanced budget
a situation in which the government’s spending is exactly equal to the total taxes and other revenues it collects during a given period of time
Balance-of-payments deficit
The net decline in a country’s stock of international reserves over a year.
Balance-of-payments surplus
The net increase in a country’s stock of international reserves over a year.
Bank reserves
Cash or similar assets held by commercial banks for the purpose of meeting depositor withdrawals and payments.
bank runs
attempts by many of a bank’s depositors to convert transactions and time deposits into currency out of fear that the bank’s liabilities may exceed its assets
Banking panic
An episode in which depositors, spurred by news or rumors of the imminent bankruptcy of one or more banks, rush to withdraw their deposits from the banking system.
Barrier to entry
Any force that prevents firms from entering a new market.
barter
the direct exchange of goods and services for other goods and services without the use of money
Bartering
The trading of 1 good for another. This requires the double Coincidence of wants, a condition met when 2 individuals each have diff’t goods that they other wants.
Basic elements of a game
The players, the strategies available to each player, and the payoffs each player receives for each possible combination of strategies.
Basic Needs
Qdequate food, clothing, and shelter.
Because of substantial economies of scale, the __________ theory argues that in many industries there are increasing returns to specialization.
new trade
Below the mid-point on a straight-line demand curve, demand is ___________
Inelastic.
Benefit Budget
An element of financial planning where all income is listed and compared to all expenditures. Often expenditure decisions need to be made to hold spending less than or equal to income.
benefit of municipal bonds?
They are always free from federal tax, and usually free from state and local tax. Because of this, their yields can be lower.
Bequest saving
Saving done for the purpose of leaving an inheritance.
Bertrand model
Oligopoly model in which firms produce a homogeneous good, each firm treats the price of its competitors as fixed, and all frims decide simultaneously what price to charge
Better-than-fair gamble
A gamble whose expected value is positive.
Bilateral Monopoly
Market with only one seller and one buyer
Block Pricing
Practice of Chargin different prices for different quanitites or “block” of a good.
Board of Governors
The leadership of the Fed, consisting of seven governors appointed by the president to staggered 14-year terms.
board of Governors of the Federal Reserve System
appointed by the president with the approval of the U.S. senate
Bond
A promise to pay a certain amount of money plus interest in the future.
Boom
A particularly strong and protracted expansion.
Brain Drain
The outflow of the best and brightest students from developing countries to developed countries.
Bretton Woods triangle trade?
Bretton Woods, then, created a system of triangular trade: the United States would use the convertible financial system to trade at a tremendous profit with developing nations, expanding industry and acquiring raw materials. It would use this surplus to send dollars to Europe, which would then be used to rebuild their economies, and make the United States the market for their products. This would allow the other industrialized nations to purchase products from the Third World, which reinforced the American role as the guarantor of stability. When this triangle became destabilized, Bretton Woods entered a period of crisis which lead ultimately to its collapse.
Budget Constraint
A curve that shows us the various combinations of goods an individual can buy with a given amount of money.
Budget Deficit
Refers to national budgets; occurs when government spending is greater than government income from taxes and tariffs in a given year. A yearly deficit adds to the public debt.
Budget Surplus
Refers to national budgets; occurs when government income is greater than government spending in a given year.
Bundling
Practice of selling two or more products as a package
Bureau of Labor Statistics
Gathers information on the status of the economy.
Business
A private producing unit in our society.
Business Cycle
The upward or downward movement of economic activity, or real GDP, that occurs around the growth trend.
buy local laws?”
local content requirements i.e. a % value of your good must be produced locally eg Japanese cars.
Buyer’s reservation price
The largest dollar amount the buyer would be willing to pay for a good.
Buyer’s surplus
The difference between the buyer’s reservation price and the price he or she actually pays.
calculation of change in equilibrium real GDP
multiplier X change in autonomous spending
calculation of multiplier
1/1-MPC or 1/MPS
calculation of potential money multiplier
1/required reserve ratio
calculation of required reserves
transaction deposits X required reserve ratio
callable” bond?
A bond that can be paid back early, thus forcing the buyer to find another place to put his money.
Capital
Resources and goods made and used to produce other goods and services. Examples include buildings, machinery, tools, and equipment.
capital budget
expenditures on investment items, such as machines, buildings, roads, and dams
Capital gains
Increases in the value of existing assets.
Capital good
A long-lived good that is used in the production of other goods and services.
Capital inflows
Purchases of domestic assets by foreign households and firms.
Capital losses
Decreases in the value of existing assets.
Capital outflows
Purchases of foreign assets by domestic households and firms.
Capitalism
An economic system based on the market in which the ownership of the means of produ ction resides with a small group of individuals called capitalists.
Carl Menger?
Founder of Austrian school of economics. Started the neoclassical revolution.
Cartel
A coalition of firms that agree to restrict output for the purpose of earning an economic profit.
cartel
Market in which some or all firms explicitly collude coordinating prices and output levels to maximize profits
Cartel
A combination of firms that acts as if it were a single firm.
Cash Flow Accounting System
An accounting system entering expenses and revenues only when cash is received or paid out.
Cash on the table
Economic metaphor for unexploited gain from exchange.
causes of inflation
decline in long-run aggregate supply (continual reductions in economywide production) and if aggregate demand curve shifts rightward over time at a faster pace then the rightward progression of the long-run aggregate supply curve
causes of shifts in the consumption function
a change in any other relevant economic variable (besides real disposable income); # of such determinants is unlimited
Central Bank
A trype of banker’s bank whose financial obligations underlie an economy’s money supply.
Central bank independence
When central bankers are insulated from short-term political considerations and are allowed to take a long-term view of the economy.
certificate of deposit (CD)
a time deposit with a fixed maturity date offered by banks and other financial institutions
Chance” in Porter’s Theory?
wholly unpredictable occurances that you cannot mitigate
Change in demand
A shift of the entire demand curve.
Change in supply
A shift of the entire supply curve.
Change in the quantity demanded
A movement along the demand curve that occurs in response to a change in price.
Change in the quantity supplied
A movement along the supply curve that occurs in response to a change in price.
changes in taxes
a rise in taxes causes a reduction in aggregate demand because it reduces consumption, investment, or net exports
Classical Growth Model
A model of growth that focuses on the role of capital accumulation in the growth process.
Closed economy
An economy that does not trade with the rest of the world.
Closed Shop
A firm where unions control the hiring.
Coase theorem
If at no cost people can negotiate the purchase and sale of the right to perform activities that cause externalities, they can always arrive at efficient solutions to the problems caused by externalities.
Collective good
A good or service that, to at least some degree, is nonrival but excludable.
Commitment device
A way of changing incentives so as to make otherwise empty threats or promises credible.
Commitment problem
A situation in which people cannot achieve their goals because of an inability to make credible threats or promises.
Commodity Money
Money that has an intrinsic value, that is, value beyond any value given to it because it is money. An example of this would be a gold coin that has value because it is a precious metal.
Commodity monies
Something of intrinsic value that everybody likes which means that people are confident others will accept it in future trades like grain.
Common Market
Characterized by free movement of factors of production.
Comparable Worth Laws
Laws mandating comparable pay for comparable work.
Comparative advantage
One person has a comparative advantage over another if his or her opportunity cost of performing a task is lower than the other person’s opportunity cost.
comparative advantage based on?
Opportunity Cost
Comparative Business/Management?
compared business practices/management in various countries that are different enough to justify study and separate treatment in the academic curriculum
Compare the four basic types of economic systems.
Traditional, are ecomies decided by social customs; market economies, are economiesdecided by individuals; command are by gov’t; mixed econ are by a combination of markets and gov’t
Compensating wage differential
A difference in the wage rate—negative or positive—that reflects the attractiveness of a job’s working conditions.
Competition
Attempts by two or more individuals or organizations to acquire the same goods, services, or productive and financial resources. Consumers compete with other consumers for goods and services. Producers compete with other producers for sales to consumers.
Competitiveness
The ability of a country to sell its goods to other countries.
Complements
Two goods are complements if a decrease in the price of one makes people more willing to buy the other.
Completely Elastic Demand
Consumer will buy a fixed quantity of a good regardless of its prices
Compound interest
The payment of interest not only on the original deposit but on all previously accumulated interest.
compound tariff?
A TARIFF for a good that combines both a SPECIFIC TARIFF plus an AD VALOREM TARIFF.
Concentration Ratio
The value of sales by the topfirms of an industry stated as a percnetage of total industry sales.
Conglomerate FDI?”
Investing in business overseas that has no relationship to your core business.
Conglomerate Merger
The merging of relatively unrelated businesses.
Consider the following scenario. The Netherlands exports tulip bulbs to almost every country in the world except Japan. The reason is that Japanese customs inspectors insist on checking every tulip bulb by cutting it down the middle (which destroys the bulb). The insistence on the part of the Japanese to inspect the bulbs in this manner (which makes it impractical for the Netherlands to export to Japan) is an example of a(n)
administrative trade policy.
Conspicuous Consumption
The onsumption of goods not for one’s direct pleasure, but simply to show off to others.
Constant (or parameter)
A quantity that is fixed in value.
Constant returns to scale
A production process is said to have constant returns to scale if, when all inputs are changed by a given proportion, output changes by the same proportion.
Consumer
People who use goods and services to satisfy their economic wants.
Consumer Price Index
A price index that measures the cost of a fixed basket of consumer goods and services and compares the cost of this basket in one time period with its cost in some base period. Changes in the CPI are used to measure inflation.
Consumer Suplus
The difference between the price a consumer would be willing to pay for a good or service and what that consumer actually has to pay.
consumption
People who use goods and services to satisfy their economic wants.
Consumption expenditure
Spending by households on goods and services such as food, clothing, and entertainment.
Consumption function
The relationship between consumption spending and its determinants, in particular, disposable (after-tax) income.
consumption function
the relationship between planned real consumption expenditures of households and their current level of real disposable income; shows how much all households paln to consume per year at each level of real disposable income per year
consumption goods
goods purchase by households for immediate satisfaction or to use up (ex. food, movies)
Consumption possibilities
The combination of goods and services that a country’s citizens might feasibly consume.
Contraction
See Recession.
contraction phase business cycle
Right now we are in an economy that is not expanding, instead its contracting
Contractionary Monetary Policy
Monetary policy that decreases the money supply and increases interest rates.
Contractionary policies
Government policy actions designed to reduce planned spending and output.
Contractual Intermediary
A financial institution that holds and stores individuals’ financial assets.
convertible bonds?
They carry a provision that the bond can be converted into shares of common stock under certain circumstances. Convertible bonds can be more attractive that bonds with no conversion provision, depending on the price of the underlying stock.
Core rate of inflation
The rate of increase of all prices except energy and food.
Corporate Takeover
An action in which another firm or a group of individuals issues a tender offer (that is, offers to buy yup the stock of a company) to gain control and to install its own managers.
Corporation
A business that is treated as a person, legally owned by its stockholders. Its stockholders are not liable for the actions of the corporate “person.”
Cost
The disadvantages of a particular course of action as measured by bad feeling, dollars, or numbers of items.
Costly-to-fake principle
To communicate information credibly to a potential rival, a signal must be costly or difficult to fake.
Cost-plus regulation
A method of regulation under which the regulated firm is permitted to charge a price equal to its explicit costs of production plus a markup to cover the opportunity cost of resources provided by the firm’s owners.
Coupon payments
Regular interest payments made to the bondholder.
Coupon rate
The interest rate promised when a bond is issued; the annual coupon payments are equal to the coupon rate times the principal amount of the bond.
Cournot model
Oligopoly model in which firms prdouce a homogenoues good, each firm treates the output of its competitors as fixed, and all firms decide simultaneously how much to produce
Credentialism
When the academic degrees, or credentials, become more important than the knowledge learned.
Credibility of monetary policy
The degree to which the public believes the central bank’s promises to keep inflation low, even if doing so may impose short-run economic costs.
Credible promise
A promise to take an action that is in the promiser’s interest to keep.
Credible threat
A threat to take an action that is in the threatener’s interest to carry out.
Credit
The opportunity to borrow money or to receive goods or services in return for a promise to pay later.
Cross-Price Elasticity of Demand
Ratio of percent change in quantity demanded to the percent change in the other good’s price.
-Tells us how responsive the quantity demanded is to the price of OTHER goods.
crowding-out effect
a rise in government spending, holding taxes constant (this is, deficit spending), tends to crowd out private spending, dampening the positive effect of increased government spending on aggregate demand (this decrease normally results from the rise in interest rates)
currency drains
when deposits increase, public will want to hold more currency (currency in a person’s wallet reamins outside banking system and cannot be held by banks as reserves from which to make loans)
Currency Stabilization
Buying and selling of a currency by the gobernment to offset temporary fluctuations in supply and demand for currencies.
Customer discrimination
The willingness of consumers to pay more for a product produced by members of a favored group, even if the quality of the product is unaffected.
Customs Union
characterized by common external tariffs.
Cyclical Unemployment
Unemployment based on normal fluctuations in the business cycle.
Deacquisition
One company’s sale of either parts of another company it has bought or parts of itself.
