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Angielski SGH rok 2 > Kolokwium 4 > Flashcards

Kolokwium 4 Flashcards

1
Q

a decline in economic activity

A

a downturn

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2
Q

an increase in economic activity

A

an upturn

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3
Q

beliefs about what will happen in the future

A

expectations

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4
Q

purchasing and using goods and services

A

consumption

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5
Q

the difference between the funds a country receives and those it pays for all international transactions

A

balance of payments

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6
Q

the total market value of all the goods and services produced in a country during a given period

A

GDP

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7
Q

the willingness and ability of consumers to purchase goods and services

A

demand

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8
Q

the willingness and ability of businesses to offer goods or services for sale

A

supply

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9
Q

to put money aside to spend in the future

A

save

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10
Q

a state of balance for example when supply is the same as demand

A

equilibrium

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11
Q

an amount of money that is smaller than is needed

A

deficit

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12
Q

an excess; a quantity that is larger than is needed

A

surplus

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13
Q

government actions concerning taxation and public expenditure

A

fiscal policy

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14
Q

government or central bank actions concerning the rate of growth of the money in circulation

A

monetary policy

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15
Q

the total amount of money available in an economy at a particular time

A

money supply

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16
Q

the economic theory that government monetary and fiscal policy should stimulate business activity and increase employment in the recession

A

Keynsianism

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17
Q

a regular pattern of fluctuations in business activity, with alternating periods of expansion and contraction

A

business cycle

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18
Q

buying and using goods and services

A

consumption or consuming

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19
Q

keeping money in order to spend in the future

A

saving

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20
Q

purchasing machines, property, securities in order to produce income or profits

A

investment or investing

21
Q

GDP plus income from foreign investments

A

GNP

22
Q

the state of being out of work, or the number or percentage of people out of work

A

unemployment

23
Q

to hire a new worker

A

to take on

24
Q

to make someone redundant, to stop employing them

A

lay off

25
Q

grow

A

expand

26
Q

stimulate

A

boost

27
Q

production

A

output

28
Q

depression

A

slump

29
Q

recovery

A

upturn

30
Q

spending

A

expenditure

31
Q

treating some people in the worse way than you treat other people

A

discriminate against

32
Q

making something weaker

A

undermine

33
Q

an economic system in which anyone can raise capital, form a business and offer goods or services

A

free enterprise

34
Q

complying with or following (rules)

A

conform to

35
Q

expressed, given a material form

A

embodied in

36
Q

a usual way of behaving

A

custom

37
Q

to the degree or extent that

A

insofar

38
Q

causes damage to

A

harm

39
Q

supporters, people who argue in favour of sth

A

proponents

40
Q

imports and exports of goods and services without any government restrictions

A

free trade

41
Q

restricting imports by way of trade barriers such as tariffs and quotas

A

protectionism

42
Q

government policies or regulations that restrict international trade

A

trade barriers

43
Q

a tax charged on imports

A

a tariff

44
Q

a maximum quantity of goods of a specific kind that can be imported into a country

A

a quota

45
Q

country’s ability to produce goods at a lower cost than any other country

A

absolute advantage

46
Q

country’s ability to produce particular goods more efficiently (using fewer resources and at a lower cost) than some other countries

A

comparative adavantage

47
Q

industry that is in an early stage of development and which cannot survive competition from foreign companies

A

an infant industry

48
Q

industry that is particularly important to a country’s economy

A

a strategic industry

Angielski SGH rok 2 (3 decks)

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