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Decks in this class (35)
ECON EXTRA
What is ceterius paribus,
What is a positive statement,
What is a normative statement
11
cards
MARKET AND PLANNED ECONOMY
Define a market economy give an e...,
Define a planned economy give an ...,
3
cards
PPF
What could a point lying inside t...,
Define the law of increasing oppo...,
Why is the ppf sometimes straight...
8
cards
Define a Market
The interaction of buyers and sellers
6
cards
THE LAWS
State the law of demand,
State the law of supply,
State two reasons for the law of ...
6
cards
Oligopoly and Monoply
Monopoly,
Oligopoly,
What is market failure
3
cards
GOODS
Rival meaning,
What does excludability mean,
What are the four types of goods
12
cards
policy options
Legislation example,
What is regulation,
Price regulation in natural monopoly
6
cards
INFLATION
What is inflation,
What is deflation,
What is cpi
23
cards
COST PUSH AND DEMAND PULL
What is demand pull inflation,
What can cause demand pull inflation,
What is cost push inflation
4
cards
GDP
W,
What is gdp,
What is economic growth
9
cards
INFLATION IN AUSTRALIA
Inflation rates from 2019 2023,
6
cards
PPF AND APF
What is the apf,
What is labour force,
Why is the apf not a straight line
13
cards
MACROECONOMICS
Macro economic definition,
2
cards
ECONOMIC GROWTH
How is economic growth measured by,
Desirable growth rate of gdp,
Economic growth leads to
17
cards
DETERMINANTS OF ECONOMIC GROWTH
What is potential economic growth,
Australia population and populati...,
What natural increases mean
24
cards
COSTS AND BENEFITS OF ECONOMIC GROWTH
What is the optimal economic growth,
Increasing real income and materi...,
High quality of goods and service...
16
cards
CIRCULAR FLOW MODEL
In the factor market what do hous...,
In the product market what do hou...,
What are savings and investments ...
4
cards
QUESTIONS FOR TEST 1
How to find real gdp through nomi...,
Nominal gdp increases if,
What is the problem with using no...
24
cards
UNEMPLOYMENT
What is the participation rate,
How much has female participation...,
Unemployment rate
13
cards
NATURAL EMPLOYMENT
What is natural rate of employment,
How to calculate natural rate of ...,
What is the natural rate of unemp...
4
cards
Phillips Curve
What is the phillips curve,
Is inflation procyclical or count...,
Is unemployment procyclical or co...
6
cards
CAUSES OF UNEMPLOYMENT
What is voluntary unemployment,
What is involuntary unemployment,
What is frictional unemployment
10
cards
Buisness Cycle
What is the buisness cyclewhat is...,
What is recession,
What is the normal quaterly rate ...
7
cards
STRUCTURAL EMPLOYMENT
What is structural unemployment,
Definition of structural change,
Examples of strucutral unemployment
3
cards
Cyclical Unemployment
Cyclical unemployment is correlat...,
What does it mean to be demand de...,
When the economy is doing poorly ...
5
cards
Pos and Negs Of UEMP
Positives of frictional unemploym...,
Positives of structural unemploym...,
Direct costs of the gdp gap
5
cards
Economic Indicators
Examples of leading indicators,
What is a leading indicator,
What are coincident indicators
8
cards
Under-Employmet
What is under employment
1
cards
TAXES
What is a tax,
What is a proportional tax system,
What is a progressive tax system
10
cards
aggregate expenditure
What is aggregate expenditure,
What is potential real gdp,
What is potential real gdp
13
cards
Externality examples
Positive consumption externality ...,
Negative consumption externality ...,
Positive production externality
4
cards
market failure recap
What is a merger buisness practic...,
What is market power,
What are regulations for
5
cards
effects of inflation
What is real income and purchasin...,
International competitiveness and...,
Economic uncertainty
5
cards
what is normative and positive statements
What are normative and positive s...
1
cards
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ECON NEW
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