Exchange Rates
The price of one country’s money in terms of another
What are Exchange Rates?
A sustained period of sharp decline
What is a depression?
The responsiveness of quantity demanded to a change in price
What is Elasticity?
Tracks income and expenses
What is a budget?
The amount of stuff money could buy
What is Purchasing Power?
The alternating pattern of expansion and contraction
What is the business cycle?
What law states that: as price increases, quantity supplied increases?
What is Law of Supply?
What is 11%?
A comparison tool based on the price of a popular bruguer
What is The Big Mac Index?
The way to measure economic growth over time
What is GDP?
This is the effect of a price ceiling on the market
What is a Shortage?
How much does the FDIC insure
What is $250,000?
The formula used to calculate the purchasing power parity (PPP) exchange rate
What is Cost of Good in Country A/ Cost of Good in Country B?
Unemployment due to the ups and downs of the economy
What is cyclical unemployment?
This happens to equilibrium price when there is a shortage of goods
What is a Price Increase?
A retirement account with after-tax income
What is Roth IRA?
Calculate the PPP exchange rate if a Big Mac costs $5.00 in the US and ¥500 in Japan
What is ¥100 per $1
Demand for a product increases, driving up the price of said product
What is demand-pull?
What increases when there is an increase in consumer income and the good is a normal good.
What is price increase, quantity increase?
To invest in a wide range of assets
What is portfolio diversification?