Extra
What are short-run fluctuations in the level of the economy?
(time period)
Movies, travel, tv, computer, antibiotics
(functions of something); medium of exchange, unit of account, store of value
What are functions of money?
Oikos
What is a Greek word that means economy and ecology
Per head
What is per head?
The cost of purchasing a market basket of goods and services intended to be representative of the consumption of a typical consumer
What is the Consumer Price Index?
(An organization) in the US that controls the money supply
What is the Federal Open Market Committee?
climate commons
What is a term that describes a shared resources?
A country with a total production of about 2/3s of the US and a per capital output of about 15%
What is China?
A period between a peak and a trough
What is a recession?
(an equation)
Y=C+I+G+NX
What is an equation that shows the relationship between GDP, income, and expenditures?
One of the most critical roles in controlling externalities.
What is time?
A portion of total unemployment attribute to the mismatch between job openings and job-seekers
What is structural unemployment?
the market value of all final goods and services produced within a country during a specified period of time
What are GDP?
1) substitution bias
2) unmeasured quality change
3) new goods and services
What are reasons of errors in the CPI?
A term that doesn’t have a clear definition but encompasses issues of environment, ecology, and climate
What is sustainability?
equity finance
What is the sale of shares of stock?
When exports are less than imports
What is a trade deficit
Consumer durables and consumer nondurables
What are household purchases?
externalities
What is a word that is used to describe irregularities in the orderly functioning of markets?