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PPC
Inflation and Unemployment
Circular Flow
Comparative Advantage
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100
What the Production Possibilities Curve explains
What is the limit of attainable outputs?
100

What are the three types of unemployment?

What is a cyclical, structural and frictional? 

100
A common financial instution
What is a bank?
100
The value of the best alternative that was sacrificed
What is Opportunity cost?
100
A point to the left of the PPC signifies this
What is inefficiency?
200

The decision to move when at pareto efficiency will result in this type of cost. 

What are Opportunity Cost?

200

When an economies' prices are increasing but at a lower rate than the previous quarter.

What is a disinflation?

200
The jewelry market is an example of this type of market
What is the Product market?
200
When a country can produce a good using fewer resources per unit of output than another country
What is absolute advantage?
200
One of the three factors that can cause the PPC to shift right
What is Trade/technology/new resources?
300
Another name for the PPC is
What is the Production Frontier?
300

What is the formula for unemployment rate? 

What is unemployed over the labor force?

300
Trees are an example of this factor of production
What is Land?
300
The country with the absolute advantage of both goods if Mexico can produce 202 coffee and 116 broccoli, and Brazil can produce 120 broccoli and 205 coffee.
What is Brazil?
300

A country utilizing comparative advantage in trading can move in this direction on the PPC.

What is to the Right?

400

What are the axis' called when a PPC measures economic growth? 

What is consumer goods and capital goods? 

400

Where a house husband has chosen to stay home as his skills as a carpenter have been replaced and he is sick and tired of trying. 

What is a discouraged worker?

400
These flow from firms to the product market to households
What are Goods and services?
400
When a country can produce a good at a lower opportunity cost than another country
What is comparative advantage?
400

What is the formula for GDP using the expenditure method? 

What is C + I + G + (NX)

500

The three factors that are considered in the PPC.

What is Scarcity, Choice and Opportunity Cost?

500

If the base year is 2019, and in 2021 the index is 118, what is GDP in 2019 if GDP in 2021 was 157 million?

What is 133 million?

500
Revenue flows from __________ to ___________.
What is from product market to firms?
500
The country with the comparative advantage in producing broccoli if Mexico can make 8 coffees per 3 broccolis, and Brazil can make 5 coffees per 2 broccolis.
What is Brazil?
500
Where the government chooses to measure workers in comparison to their population. 

What is labor force participation rate?