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Supply and Demand
Macro Tools
Macro Economy
Monetary Policy
Fiscal Policy
100
The relation between quantity supplied and price
What is supply?
100
AS
What is aggregate supply?
100
Percent of people in the labor force that are unemployed
What is unemployment rate
100
Minimum percentage of deposits that banks must hold
What is required reserve ratio?
100
The use of the federal budget to encourage sustained economic growth
What is fiscal policy
200
The situation where quantity demanded exceeds quantity supplied
What is a shortage?
200
AD
What is aggregate demand?
200
The four types of unemployment
What is structural, frictional, cyclical and seasonal
200
The purchase or selling of gov't securities by the Fed Reserve in an open market
What is open market operations?
200
Where gov't planners can make decisions on spending
What is discretionary spending
300
A gov't regulation that places a lower limit on an item that might be traded
What is price floor?
300
CIGNet
What is consumption, investments, gov't consumption, and net exports
300
When the economy is at full employment
What is natural unemployment rate
300
The interest rate at which the Fed Reserve stands ready to lend reserves
What is discount rate?
300
The gov't does not have control over spending, it happens automatically
What is automatic spending
400
A gov't regulation that places an upper limit on an item being traded
What is price ceiling?
400
A tendency for a gov't budget deficient to decrease investment
What is crowding out
400
The real GDP that the economy could produce if it were at full employment
What is potential GDP?
400
Percent change in price level
What is inflation?
400
A type of economic growth theory where economic growth will eventually come to an end
What is classical growth
500
A benefit or satisfaction that one gets from the consumption of a good
What is a utility?
500
When it takes time to realize change in the economy in relation to prices of a good
What is sticky wages/prices
500
Income earned minus net taxes
What is disposable income
500
Number by which a change in the monetary base is multiplied by to find the change in quantity of money
What is money multiplier?
500
Gov't structure where a need for gov't intervention to achieve economic growth
What is Keynesian