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Money
Role of Government
Trade
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100
A moneyless economy that relies on trade of goods and services
What is a barter economy?
100
The use of spending and taxation by the federal government
What is fiscal policy?
100
When a currency gets stronger
What is appreciating?
100
A nation with a relatively low average level of material well-being
What is a less developed country?
100
The interweaving of world economies, goods and culture
What is globalization?
200
The ability for money to be easily transferred from one person to another.
What is portability?
200
The actions of a central bank to affect the availability and cost of money and credit in order to acheive national economic goals
What is monetary policy?
200
When a currency gets weaker
What is depreciating?
200
A nation with a relatively high average level of material well-being
What is a developed nation?
200
C + I + G + (X-M) represents this
What is GDP?
300
The ability for money to be broken down into smaller units.
What is divisible?
300
The rules that government establishes on businesses
What are regulations?
300
When a country exports more goods and services than it imports
What is a trade surplus?
300
A less developed country that has made great progress towards development
What is a newly industrialized country?
300
Stocks, real estate, mutual funds
What are forms of investment?
400
The ability for money to not fall apart.
What is the durability of money?
400
Benefits or costs from a transaction that extend beyond the buyer and the seller
What is an externality?
400
A situation in which a nation imports more goods and services that it exports
What is a trade deficit?
400
Literacy rate, life expectancy, and infant mortality are this type of indicators
What are social indicators?
400
Focusing on doing one product efficiently
What is comparative advantage?
500
Medium of exchange, measure of value, store of value
What are the functions of money?
500
Regressive, progressive, and proportional are forms of this
What are taxes?
500
Contracts between countries to trade exclusively. NAFTA is an example of this.
What are trade agreements?
500
Per Capita GDP, energy use, workforce, consumer goods, and social indicators.
What are indicators of development?
500
Choice
What is the core of economics?