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Chapters 1-4
Chapters 5-9
Chapters 10-13
Chapters 14-16
Chapters 17-19
100
a specific change in price causes a relatively large change in quantity demanded
What is elasticity
100
upward sloping curve that shows a positive relationship
What is supply curve
100
total number of people sixteen years or older who are willing to work at all wage levels and are physically able to work
What is the labor force
100
referred to as transactions money
What is M1
100
money, goods and services that the government of one nation gives to help another
What is foreign aid
200
the total output of all of the individual companies within a market
What is market supply
200
price where quantity demanded is exactly equal to quantity supplied
What is equilibrium price
200
GDP that is adjusted to remove the effects of inflation.
What is real GDP
200
the percentage a bank is required to keep on hand
What is reserve ratio
200
a limit of how much of a particular good can be brought into a country during a specific period
What is a quota
300
downward sloping curve that shows a negative relationship
What is a demand curve
300
market that has a large number of sellers who produce goods and services that are alike, but not identical
What is monopolistic competition
300
Changes in consumer expectations and stock prices
What are two leading economic indicators
300
the most important tool the Fed uses is controlling the money supply
What is open market operations
300
taxes created to limit imports
What are tariffs
400
products or services that are used together
What are complements
400
market in which existing financial assets are resold
What is secondary market
400
a drummer that lives next door provides you with a free concert every evening and you like drums
What is a positive externality
400
check clearing, control the discount rate, oversee electronic fund transfers
What are responsibilities of the Federal Reserve
400
a firm that is owned wholly or in part by a multinational corporation
What is foreign affiliate
500
specializing in producing only the goods or services that can be made at a relatively low opportunity cost
What is comparative advantage
500
non-voting shares in a company that receive dividends before profits are paid
What is preferred stock
500
financial assistance that does not require repayment
What is a grant
500
Real GDP remains the same while population increases
What is economic regression
500
a low or middle income nation with a lower standard of living and access to fewer goods and services
What is a developing nation