Monetary
Monetary policy regulates this measure of the economy.
What is inflation?
GDP is regulated by this kind of policy.
What is Fiscal Policy?
Unemployment is regulated by this kind of policy.
What is Fiscal Policy?
An economy where the government regulates production.
What is command
Items that are bought and sold in a market.
What are goods and services?
Under the Ming Dynasty, they moved from paper money to silver-backed money to do this.
What is create a stronger currency.
Creation of the pyramids was supported by this economic strcutre.
What are taxes?
Government development of Roman roads and aqueducts created these.
What are jobs?
An economy where the market regulated production
What is a Market Economy
Shows the relationship between the quantity of goods people are willing to buy, and the price people are willing to pay.
What is a demand curve?
During the price revolution in Spain, the increase in the amount of gold and silver available created this.
What is inflation?
If a king lowers taxes on merchants, he is trying to do this.
What is increase trade?
In Medival Europe, these were paid in labor to the lords, not in money.
What are taxes?
An economy where traditions/customs regulate production
The total amount of money that a business brings in. (Without considering the cost of production)
What is revenue?
In Ancient Egypt, a khar was a sack of this resource.
What is grain?
In societies that used grain instead of coinage, this was likely their primary industry.
What is agriculture?
Spain increased taxes dramatically in the 16th century to fund this.
What are conquistadors?
A feudal system where serfs are bound to their lords by duty and law is most closely related to which economic system.
What is a command economy?
When suppliers produce below the equilibrium point.
What is a shortage?
In Ancient Greece; the vocabulary term for each city state creating it's own money system.
What is decentralized?
In feudal societies, wealth was often measured more by ownership of this than by cash.
What is land?
In Babylon they had clean slate policies which wiped a person's debts and in some cases debt slavery which created this benefit in the economy.
What is an increase in production?
The most accurate way to describe the modern United States Economy.
What is a mixed economy?
The primary author of the Constitution
James Madison