Bankers club
Measuring the economy
Economic actors
Supply and demand
Case studies and data
100
The kind of policy this person and the institution he is in charge of is engaged in
Monetary
100
The CPI went from 100 to 102 to 103. This is what is happening to the price level.
Disinflation
100
The commercial aircraft industry is dominated by intense competition by the two titans of the sky: Airbus and Boeing, thus reflecting this market structure.
Duopoly
100
One argument for not raising this is that it could potentially lead to higher unemployment.
Minimum wage
100
Since the 1980s, the United States has witnessed a growing gap between productivity and this.
Real wages
200
A commercial bank circulates money in this way
Fractional reserve banking
200
If we take prices in current year multiplied by quantities in current year, we arrive at this economic indicator
Nominal GDP
200
This actor provides signals as to which financial products are safe and which are risky.
Rating agencies
200
If supply shifts left and demand shift right, it is likely that this will happen to the price.
Increase
200
This social experiment in the fast food industry in the 1990s indicated that small increases to the minimum wage do not necessarily increase unemployment
Card and Krueger analysis
300
If the CPI is rising significantly, this is what the Fed might do.
Increase interest rates
300
A $100 today would be worth less a year from now (or have equivalent buying power of more than $100) because of this.
Inflation
300
This is the market structure where a few firms collude in setting prices or making output decisions
Cartel
300
If Starbucks raises the price of coffee because it has to pay higher wages to its employees, in the market for coffee, this is likely a shift of this curve in this direction.
Leftward shift of supply curve
300
In the US, this figure stands currently at just over 29 trillion dollars
(Nominal )GDP
400
This is the form of money that is highly liquid and fulfills the property of money as a medium of exchange
M1
400
This phenomenon, from a Marxian point of view, serves to keep wages low
Unemployment
400
A prisoners dilemma is relevant to any of these market structures.
Duopoly, oligopoly or cartel
400
If supply and demand both shift to the right, the price effect is likely to be this.
Ambiguous
400
In the US, this rate stands at just over 62 percent partly due to an aging population
Labor force participation rate
500
During the 1970s and early 1980s, there was both high unemployment and inflation and the Federal Reserve's decision during this time was known as this.
Volcker shock or raise interest rates to deal with inflation
500
When measuring this, we allow prices to fluctuate but keep quantities fixed based on a base (reference) year
Price level or Consumer Price Index
500
A recent anti-trust court ruling in the US placed Google's online advertising in this market structure because of this company's market power. This will result in Google having to sell Google Chrome and other Google products/search engines.
Monopoly
500
If labor supply curve looks like this, it is because this effect dominates.
Income effect
500
According to the BLS, there are over half a million of these workers in the United States who have stopped looking for work because they believe there are no jobs available for them that match their skills.
Discouraged workers