This class was created by Brainscape user Amy Nguyen. Visit their profile to learn more about the creator.
By:
Amy Nguyen
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Decks in this class (15)
1. Basic Concepts
Scarcity,
Economic goods,
Free goods
11
cards
1. Gains from Trade
A graph that displays a relation ...,
When you have a lower opportunity...,
You are better at something than ...
3
cards
1. Supply/Demand in a Market
Inverse relationship between pric...,
Direct relationship between price...,
Intersection of demand and supply...
9
cards
1. Limits on the Market
Makes prices above a certain line...,
Makes prices below a certain line...
2
cards
1. Market Failure
Owned by a group no incentive to ...,
1 inability for producers to excl...,
3
cards
2. Measuring Input/Output
The market value of all final goo...,
Two way relationship between hous...,
Output taking out selling to othe...
12
cards
2. Unemployment
Fluctuations of growth with gdp p...,
0 hr per week with no pay and tri...,
1 hr per week with pay or owns a ...
10
cards
2. Inflation
Ongoing pressure of rise in price...,
Use change result starter divided...,
1 compute total costs of each yea...
6
cards
2. Taxation
Everyone pays the same of income ...,
Higher income higher of income tax,
Higher income less of income taxes
4
cards
3. Aggregate Supply/Demand
Macroeconomy final goods services,
Decrease,
Increase
16
cards
3. Fiscal Policy
Counteract activity of fluctuatio...,
Useful when economic output is to...,
Useful when economic output is to...
13
cards
4. Money and Banking
Currency is general money is narrow,
Medium of exchange can be exchang...,
Federal reserve bank created to l...
13
cards
4. Market for Money
Downward slopetransaction planned...,
Straight line downcontrols it by ...,
P x y m x v p price level gdp def...
4
cards
4. International
Us government tax on foreign good...,
Upper limit by the us government ...,
1 both will decrease the of impor...
15
cards
4. Open Economy
1
cards
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ECON 2105
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