supply
econ
law of...
gdp
business cycle
100
supply
What is the amount of a product that would be offered for sale at all possible prices that could prevail in the market
100
when price and quantity equal each other with no shortage or surplus
What is equilibrium price
100
output will change when one input is varied while other are constant in the shortrun
What is law of variable proportions
100
gross domestic product
What is the dollar amount of all final goods and services produced within a country's national borders in a year
100
business cycle
What is the recurring and fluctuating levels of economic activity aver a long period of time
200
quantity of product supplied in various prices
What is supply schedule
200
1- workers are not efficient 2- slow growth in production 3- too many workers
What are the stages of production
200
suppliers offer more for high price and less at lower price
What is law of supply
200
creeping, galloping,hyperinflation
What are the degrees of inflation
200
prosperity, recovery, recession, depression
What is are the phases of business cycle
300
supply curve
What is a graph that shows quantity supplied at each price
300
committee that determines the size and rate of money growth
What is monetary policy
300
relationship between factors of production and putputs od good and seervices
What is theory of production
300
inflation
What is the general level of prices for goods and services is rising while purchasing is falling
300
1.expenditures are low 2. cut back in inventories 3.cut back in investments 4. tight money policies 5. external shocks
What are the 5 causes of business cycle
400
technology, productivity, taxes and subsidies, cost of inputs, expectations, government regulations, number of sellers.
What are the 7 changes in supply
400
banks that retain a portion of costumers deposites and send to the reserve
What is fractional reserve bank
400
preferences population expectations consumer info price of related goods consumer income
what are the 6 changes in demand
400
GDP= consumption+investment+government+(exports-inputs)
What is GDP's calculation
400
fictional structural cyclical seasonal technology
What are the 5 types of unemployment
500
surplus- supply is greater than demanded at given price shortage- supply is lower than demanded given a certain price
What is the difference between surplus and shortage
500
antipoverty programs
What are programs that are organized by the government to help the poor get jobs and necessities.
500
inelastic-price doesn't change the demand much (medicine) elastic-both price and demand change together
what is inelastic and elastic
500
income earned by residents from overseas investments including GDP in a year
What is Gross national product
500
4.5%
What is the percentage of unemployment
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