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Amy Nguyen
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Decks in this class (15)
1. Basic Concepts
When human wants for goods and se...,
Has a degree of scarcity and oppo...,
No opportunity cost abundance 3
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...,
Blank 3
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...,
Not worked that 1 week and tried ...,
1 hr per week with pay or owns a ...
10
cards
2. Inflation
Ongoing pressure of rise in price...,
Use change result initial divided...,
1 compute total costs of each year 3
6
cards
2. Taxation
Everyone pays the same of income ...,
Higher income higher of income ta...,
Higher income less of income taxes 2
4
cards
3. Aggregate Supply/Demand
Macroeconomy final goods services 1,
Decrease buying selling 2,
Increase buying selling 3
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 narr...,
Medium of exchange can be exchang...,
Federal reserve bank created to l...
13
cards
4. Market for Money
Downward slope transaction planne...,
Straight line down controls 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
Blank 1
1
cards
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ECON 2105
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