Downlaod File
... For example, if oil was scarcity in Saudi Arabia, that will effect the States’ economy Efficiency: The complete opposition with the word “ scarcity” which means quantities is high such as oil in Saudi Arabia; it has the most oil all over the world, and that is why they have a good economy. Free good ...
... For example, if oil was scarcity in Saudi Arabia, that will effect the States’ economy Efficiency: The complete opposition with the word “ scarcity” which means quantities is high such as oil in Saudi Arabia; it has the most oil all over the world, and that is why they have a good economy. Free good ...
Inflation & Deflation - Vista Unified School District
... an increase in the price level a decrease in price level How is it determined? CPI= Consumer Price Index by comparing the CPI in different years and noting the change CPI is higher=inflation CPI is lower=deflation ...
... an increase in the price level a decrease in price level How is it determined? CPI= Consumer Price Index by comparing the CPI in different years and noting the change CPI is higher=inflation CPI is lower=deflation ...
AP Economics Final Exam
... Okun’s Law – For every 1 % that the unemployment rate exceeds that natural rate, GDP will decrease by 2% from the previous year Demand-Pull Inflation – Higher streams of income cause demand to increase which results in an increase in the prices of goods and services Cost-Push Inflation – usually dur ...
... Okun’s Law – For every 1 % that the unemployment rate exceeds that natural rate, GDP will decrease by 2% from the previous year Demand-Pull Inflation – Higher streams of income cause demand to increase which results in an increase in the prices of goods and services Cost-Push Inflation – usually dur ...
economic basics practicequestions File
... 11) A measure of the cost of goods and services for the average household in Canada is: a) the CEO b) the TSX c) the CPI d) the ATM e) the IPO 12) The cost of using a scarce resource to do one thing instead of another is most usually called the: a) social cost b) opportunity cost c) alternative cos ...
... 11) A measure of the cost of goods and services for the average household in Canada is: a) the CEO b) the TSX c) the CPI d) the ATM e) the IPO 12) The cost of using a scarce resource to do one thing instead of another is most usually called the: a) social cost b) opportunity cost c) alternative cos ...
Inflation - Oldfield Economics
... When aggregate demand is rising faster than the ability of the economy to supply goods and services – leading to excess demand Positive output gap (when actual GDP > Trend GDP) Businesses respond by raising prices to increase their profit margins Demand-pull inflation associated with the boom phase ...
... When aggregate demand is rising faster than the ability of the economy to supply goods and services – leading to excess demand Positive output gap (when actual GDP > Trend GDP) Businesses respond by raising prices to increase their profit margins Demand-pull inflation associated with the boom phase ...
Chapter Test A What is Economics
... In the Answers column indicate which economic system is best described by each statement. ...
... In the Answers column indicate which economic system is best described by each statement. ...
Aggregate Demand and Aggregate Supply
... Many assume that the downward slope of the aggregate demand curve is a natural consequence of law of demand. The demand curve for any individual good shows how the quantity demanded depends on the price of that good, holding the prices of other goods and services constant. This is not the case w ...
... Many assume that the downward slope of the aggregate demand curve is a natural consequence of law of demand. The demand curve for any individual good shows how the quantity demanded depends on the price of that good, holding the prices of other goods and services constant. This is not the case w ...
note C
... is called the minimum transaction rule. And with price-setting firms and wage-setting workers (or trade unions) facing downward-sloping demand curves, prices and wages are generally set above the marginal cost of production and the marginal disutility of labor, respectively. Thus, given the prevaili ...
... is called the minimum transaction rule. And with price-setting firms and wage-setting workers (or trade unions) facing downward-sloping demand curves, prices and wages are generally set above the marginal cost of production and the marginal disutility of labor, respectively. Thus, given the prevaili ...
Aggregate Supply in the Short and Long Run
... at its full employment/natural rate of unemployment level. • It is the level of output that an economy can produce if all of its resources are fully employed. • An equilibrium point to the left of the LRAS indicates we are below full employment. An equilibrium point to the right of the LRAS indicate ...
... at its full employment/natural rate of unemployment level. • It is the level of output that an economy can produce if all of its resources are fully employed. • An equilibrium point to the left of the LRAS indicates we are below full employment. An equilibrium point to the right of the LRAS indicate ...
Macroeconomic Concepts
... The basic measure of a nation’s economic growth rate is the percentage change of ________ over a given period of time. The __________ is the percentage change in price level over time. A nation’s __________ rate is an important indicator of the health of the economy. The Bureau of Labor Statistics _ ...
... The basic measure of a nation’s economic growth rate is the percentage change of ________ over a given period of time. The __________ is the percentage change in price level over time. A nation’s __________ rate is an important indicator of the health of the economy. The Bureau of Labor Statistics _ ...
Economics 302
... a. (.25 points) If the economy is closed to trade, what is the equilibrium price and quantity in this market? ...
... a. (.25 points) If the economy is closed to trade, what is the equilibrium price and quantity in this market? ...
Economics Study Guide
... cost-push theory theory that inflation occurs when producers raise prices to meet increased costs (p. 341) cyclical unemployment unemployment that rises during economic downturns and falls when the economy improves (p. 333) deflation a sustained drop in the price level (p. 343) demand-pull theory th ...
... cost-push theory theory that inflation occurs when producers raise prices to meet increased costs (p. 341) cyclical unemployment unemployment that rises during economic downturns and falls when the economy improves (p. 333) deflation a sustained drop in the price level (p. 343) demand-pull theory th ...
aggregate demand and
... The LRAS curve The long run is defined as that period in which nominal wages, or prices of other inputs, can change. The shape of the LRAS depends on the assumption about how workers react to unemployment. Classical or supply side economists see the labour market as functioning perfectly. If there i ...
... The LRAS curve The long run is defined as that period in which nominal wages, or prices of other inputs, can change. The shape of the LRAS depends on the assumption about how workers react to unemployment. Classical or supply side economists see the labour market as functioning perfectly. If there i ...
EOC REVIEW Game 5
... and tools needed to build things. • Define human capital: the sum of people’s skills, abilities and motivation. • Why are businesses willing to invest time and money into the education of human capital? Because of productivity • What will happen as more employees are added to a business? • This is c ...
... and tools needed to build things. • Define human capital: the sum of people’s skills, abilities and motivation. • Why are businesses willing to invest time and money into the education of human capital? Because of productivity • What will happen as more employees are added to a business? • This is c ...
INSTITUTE OF ACTUARIES OF INDIA EXAMINATIONS 11 May 2015
... Which of the following is NOT an advantage of fixed exchange rates? A. International trade and investment are less risky. B. More stable economic conditions, as the government is unable to pursue "irresponsible" macroeconomic policies. C. A reduction in speculation on exchange rate movements if ever ...
... Which of the following is NOT an advantage of fixed exchange rates? A. International trade and investment are less risky. B. More stable economic conditions, as the government is unable to pursue "irresponsible" macroeconomic policies. C. A reduction in speculation on exchange rate movements if ever ...
Ch16-- Macroeconomic Viewpoints
... to realize that there is a problem. – 2. Reaction Lag: they need time to formulate an appropriate policy response. – 3. Effect Lag: policy takes time to implement and work through the economy. Countercyclical policies can become procyclical policies, worsening fluctuations Don’t mess with the macr ...
... to realize that there is a problem. – 2. Reaction Lag: they need time to formulate an appropriate policy response. – 3. Effect Lag: policy takes time to implement and work through the economy. Countercyclical policies can become procyclical policies, worsening fluctuations Don’t mess with the macr ...
FedViews
... One way to see the negative effects of the dollar appreciation and lower net exports is to compare the recent economic fortunes of export-intensive states with other states. The 10 states with the highest export shares show no change in average unemployment from June to December 2014. By comparison, ...
... One way to see the negative effects of the dollar appreciation and lower net exports is to compare the recent economic fortunes of export-intensive states with other states. The 10 states with the highest export shares show no change in average unemployment from June to December 2014. By comparison, ...