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Macro Jargon > Jargon 2 > Flashcards

Jargon 2 Flashcards

1
Q

The present discounted value of future cash stream generated by a bond

A

Bond prices

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2
Q

The amount of return an investor realizes on a bond

“Profit”

A

Bond yields

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3
Q

The amount by which the government expenditures exceed its receipts during a specific period of time, usually a year

A

Budget deficit

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4
Q

An excess of government revenues over government expenditures in a given period

A

Budget surplus

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5
Q

Federal agency trusted with printing currency in the US

A

Bureau of printing and engraving

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6
Q

Alternating periods of economic growth and retraction

A

Business cycle

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7
Q

The amounts of all products available to sell to other businesses or a consumer

A

Business inventories

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8
Q

A bank for all banks. America’s is the federal reserve system
Most important function of the Federal Reserve is to conduct monetary policy for the US

A

Central bank

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9
Q

a federal agency within the legislative branch of the government that provides budget and economic information to congress

A

The Congressional budget office

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10
Q

Money in advance to customers to purchase goods or services

A

Consumer credit

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11
Q

Deliberate changes in government spending and net tax collection to affect economic output, unemployment, and the price level

A

Expansionary and contradictory fiscal policy

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12
Q

Changes in the money supply to fight recessions or inflation directly and purposefully affects interest rates

A

Contractionary/expansionary monetary policy

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13
Q

And agency within the executive office of the US that advises the president on economic policy. Provides much of the objective empirical research for the White House

A

Council of economic advisers

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14
Q

A measure of changes in the average price of consumer goods and services

A

CPI

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15
Q

An explicit, legislated limit on the amount of outstanding national debt

A

Debt ceiling

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16
Q

Elements of the federal budget not determined by past legislative or executive commitments

A

Discretionary spending

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17
Q

After-tax income of households

personal income - personal taxes

A

Disposable income

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18
Q

Non-discretionary spending on programs such as Social Security, Medicare, food stamps, unemployment insurance, etc.

A

Entitlements

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18
Q

Government corporation providing insurance to depositors in US banks, ensures them up to $250,000

A

Federal depositors insurance Corporation

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18
Q

The interest rate for interbank reserve loans

A

Federal funds rate

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19
Q

A tax levied by the United States internal revenue service on the annual earnings of individuals, corporations, trusts and other legal entities

A

Federal income tax

20
Q

A committee of the federal reserve board that meets regularly to set monetary policy, including the interest rates that are charged to banks

A

Federal open market committee

21
Q

The central bank for the United States, trusted with conducting monetary policy in this country

A

Federal reserve bank

22
Q

The value of total market output produced at full employment

A

Full employment GDP

23
Q

Outlays by the public sector on goods and services

A

Government expenditures

24
Q

The total market value of all final goods and services produced within a nation’s borders in a given time period

A

Gross domestic product

25
Q

The price paid for the use of money

A

Interest rates

26
Q

Job openings and labor turnover survey

It is like the inside out version of the unemployment rate

A

Jolts

27
Q

Where AS and AD intersect

not to be confused with long run equilibrium

A

Macroeconomic equilibrium

28
Q

Anything generally excepted as a medium of exchange

A

Money

29
Q

Currency held by the public, plus balances in transaction accounts, plus balances in most saving accounts in money market funds

A

Money supply

30
Q

Long term rate of unemployment determined by structural forces in labor and product markets

A

Natural rate of unemployment

31
Q

Serves the president of the United States in overseeing the implementation of his vision across the executive branch

A

Office of management and budget

32
Q

An amount of money spent on something

expenditures by government that could be on goods and services or on transfer payments

A

Outlays

33
Q

Taxes imposed on employers or employees and are usually calculated as a percentage of the salaries that employers pay their staff

A

Payroll tax

34
Q

Income received by households before payment of personal taxes

A

Personal income

35
Q

The lowest rate of interest at which money may be borrowed commercially

A

Prime rate

36
Q

A tax system in which tax rates rise as income rises

A

Progressive tax

37
Q

A tax that levies the same rate on every dollar of income

A

Proportional tax

38
Q

A tax system in which tax rates fall as income rises

A

Regressive tax

39
Q

Debt owed by a central government

A

Public debt

40
Q

The nominal interest rate minus the anticipated inflation rate

A

Real interest rate

41
Q

The amount of money a firm receives in the course of doing business

A

Revenue

42
Q

The part of disposable income not spent on current consumption
disposable income minus consumption

A

Savings

43
Q

Signifies ownership in a corporation and represents a claim on part of that corporations assets and earnings
stocks, bonds, and mutual funds

A

Securities

44
Q

Making interest payments on a debt, usually used when talking of government or firms

A

Servicing the debt

45
Q

The name given to government programs designed to prevent or shorten recessions and to counteract inflation

A

Stabilization policy

46
Q

The stimulus occurrence of substantial unemployment or inflation

A

Stagflation

47
Q

A compulsory contribution to state revenue, levied by the government on workers income and business profits were added to the cost of some goods, services, and transactions

A

Taxes

48
Q

Exports minus imports

A

Trade balance

49
Q

Payments to individuals for which no current goods or services are exchanged, like Social Security, welfare, and unemployment benefits

A

Transfer payments

50
Q

The number of people in the labor force that are unemployed. Unemployed divided by labor force

A

Unemployment rate

Macro Jargon (2 decks)

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