Term
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Definition
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Term
| Most economists believe these programs are responsible for reducing elderly poverty rates. |
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Definition
| Social Security and Medicare |
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Term
| Defense spending is what percent of our national budget? |
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Definition
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Term
| In Balance of payments, if current account is deficit, then Capital account is _______________ . |
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Definition
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Term
| Who is responsible for monetary policy? |
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Definition
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Term
| higher income = higher tax rates |
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Definition
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Term
| lower income = higher tax rates |
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Definition
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Term
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Definition
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Term
| tax on an individual good or service |
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Definition
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Term
| total GDP/population (per person) |
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Definition
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Term
| GDP quoted at prevailing prices in the country (not factoring in inflation) |
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Definition
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Term
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Definition
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Term
| measurement of GDP that = the amount of goods and services sold in a given country and calculates GDP based on prevailing prices in the US to compare relative levels of income |
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Definition
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Term
How long it will take an investment to double.
72/interest rate |
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Definition
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Term
| goods that supply the same need for consumers - if price of one goes up then sales of the others goes up too. |
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Definition
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Term
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Definition
As price falls, quantity demanded increases.
As prices rise, quantity demanded decreases. |
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Term
| The point at which supply and demand intersect. |
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Definition
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Term
| dividend paid/stock's current price |
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Definition
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Term
| having the ability and willingness to buy a good or service |
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Definition
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Term
| amount of goods demanded at a given price along a Demand curve within a given time period. |
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Definition
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Term
| latest closing price of a stock/earnings per share |
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Definition
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