is the inputs that are used in the production of goods or services in the attempt to make an economic profit that include land, labor, capital and entrepreneurship
What is factors of production
100
it includes consumer income, number of consumer (population), consumer taste and preferences, and expectations
What is demand shifters
100
a general increase in prices and fall in the purchasing value of money.
What is inflation
100
is one of the ways that the U.S. government attempts to control the economy.
What is monetary policy
100
to find the equilibrium price level
What is the impact on ASAD graph
200
is a limited quantity of a particular product that under official controls can be produced, exported, or imported
What is quota
200
it deals only with the impact of own-price
What is supply shifters
200
the number or proportion of unemployed people.
What is unemplyment
200
is the central banking system of the United States.
What is federal reserve
300
is an economy in which production, investment, prices, and incomes are determined by a government
What is command economy
300
sometime the market is not in equilibrium that is quantity supplied doesn't equal quantity demanded but when it occurs there is either excess supply or excess demand
What is shortages and surpluses
300
a measure of the total output of a country that takes the gross domestic product and divides it by the number of people in the country.
What is real GDP per capita
300
is generally only applicable to the most creditworthy institutions when they borrow and lend overnight funds to each other.
What is federal funds rate
400
is an original economic system in which traditions, customs, and beliefs shape the goods and the services the economy produces
What is traditional economy
400
A law of economics stating that as a person increases consumption of a product - while keeping consumption of other products constant
What is diminishing marginal utility
400
a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food and medical care.
What is calculating consumer price index
400
a banking system in which only a fraction of bank deposits are backed by actual cash-on-hand and are available for withdrawal.
What is fractional reserve banking
500
a system where prices for goods and services are set freely by the forces of supply and demand and are allowed to reach their point of equilibrium without intervention by government policy
What is market economy and capitalism
500
is a measure of how much the quantity demanded will change if another factor change and is a measure of how much the quantity demanded will change if another factor changes.
What is demand elasticity and demand elasticity
500
when the price level of goods and services rises, the value of currency reduces
What is calculating inflation rate
500
a committee of the Federal Reserve Board that meets regularly to set monetary policy, including the interest rates that are charged to banks.