Details

Title: aaec 1006 test 4

Description: ag econ macro ellerbrock virginia tech

Total Flash Cards: 8

Created: 05/05/2009 17:32:35

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Cards in this set:

Term
compounding
 Definition
if the treasury borrows money to pay off old debt, the interest rate compounds
Term
crowding out
 Definition
when the treasury borrows huge amounts of money, there's less money left for consumer and corporate loans
Term
crowding in
 Definition
when the treasury borrows huge amounts of money, it spends it, stimulating the economy and creating jobs
Term
intranational debt
 Definition
Americans owing Americans (the treasury borrows mostly from Americans)
Term
intragenerational transfer
 Definition
middle-class Americans paying the taxes which are owed to the wealthy Americans
Term
intergenerational transfer
 Definition
future generations will pay debt that benefits current generations now
Term
exchange value
 Definition
high interest rates induced by large deficits increase the value of the dollar relative to other currencies
Term
foreign exchange
 Definition
US imports tend to rise; exports tend to decline