Term
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Definition
| A central bank's changing of the money supply to influence interest rates and assist the economy in achieving price stability, full employment and economic growth. |
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Term
| Fiscal Policy decisions are made by? |
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Definition
| The President and Congress only |
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Term
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Definition
| Something that is small and does not affect the majority of the population |
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Term
| According to the law of demand , if the price of something increases, more or few will be demanded? |
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Definition
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Term
| A supply curve for cars slopes upward, what will cause it to shift to the left? ( decrease in supply) |
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Definition
| The price of steel or what it takes to make the product increases. The input |
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Term
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Definition
| Goods that are demanded and brought based upon one another |
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Term
| Under a floating exchange rate (flexible) system,central banks |
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Definition
| refrain from intervening in currency markets |
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Term
| Fixed exchange Rate Regime |
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Definition
| The government or central bank continually intervenes in the market for the currency to offset changes in demand. |
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Term
| What could raise the exchange rate of the US Dollar ? |
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Definition
| Prices of US made good and services fall in relations to what is being produced over seas. |
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Term
| What happens when an country interest rate increases? |
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Definition
| The demand for that country currency increases |
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Term
| An example of a Public Good |
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Definition
| A radio program broadcasted by privately-owned radio station |
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Term
| Results since the 2009 Recession |
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Definition
| The labor-force participation rate has rebounded strongly but the unemployment - population has barely increased |
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Term
| Two largest sources of US Federal Government revenues* |
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Definition
| Individual and Social Security/Medicare taxes |
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Term
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Definition
| Takes away a larger percentage of the incomes of the rich than the poor. |
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Term
| Example of a final Good or service |
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Definition
| A Haircut ( something that can no longer be improved or added on to . |
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Term
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Definition
| The total value of all final goods and services that are newly produced and the total value added during all stages of production. |
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Term
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Definition
| Trough Expansion, peak, recession |
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Term
| Who is hurt by unanticipated inflation |
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Definition
| lenders and people whose nominal incomes rise by a smaller percentage than the rate of inflation. |
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Term
| The federal government increasing its own spending tends to |
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Definition
| raise the rate of inflation. |
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Term
| When the Federal Reserve buys bonds what is most likely to fall? |
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Definition
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Term
| What is market defined by? |
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Definition
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Term
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Definition
| Relationship between price of item and amount that is demanded |
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Term
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Definition
| Th quantity that the sellers are willing to sell at a certain price. |
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Term
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Definition
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Term
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Definition
| There is none, its unpredictable |
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Term
| What happens to the price when there is a competitive market? |
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Definition
| It adjusts to equilibrium. |
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Term
| How does substitute goods and complimentary goods move? |
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Definition
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Term
| If the Exchange Rate of the US dollar increases, what happens to exports? |
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Definition
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Term
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Definition
| The social science that examines how individuals , institutions, and society make optimal choices under conditions of scarcity. |
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