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Market Structures
GDP
Finance
Business Cycles
Money and Banking
100
Economic model of competition among businesses in the same industry
What is the definition of a market structure?
100
GDP = C + I + G + N
What is the calculation (variables only) for GDP?
100
Income not used for consumption
What is the definition of savings?
100
Possible answers: Expansion, peak, contraction, or trough
What is one of the four stages of Business Cycles?
100
An exchange of goods/services without the use of money
What is the definition of a barter?
200
1.)Only one seller; 2.) Restricted and regulated prices; and 3.) Control of prices
What are the three characteristics of a monopoly?
200
Would be anything that is not considered long-term, such as purchasing a soda
What is an example of a nondurable good?
200
A capital market deals with long-term financial investments, whereas a money market deals with short-term financial investments.
What is the difference between a capital market and a money market?
200
Natural resources, human resources, capital, technology, and innovation
What are the factors that affect growth?
200
Means through which goods and services can be exchanged.
What is a medium of exchange?
300
1.) Natural monopoly; 2.) Gov't monopoly; 3.) Technological Monopoly; 4.) Geographic monopoly
What are the four types of monopolies?
300
Fixed investments: Include new constructions and associated capital goods for a firm Inventory Investments: unsold gooods
What is the difference between fixed and inventory investments
300
Common stock includes voting rights and shares of profits, whereas preferred stock includes shares of profits, but not voting rights, and paying dividends.
What is the difference between preferred stock and common stock?
300
When aggregate demand = aggregate supply
When is Macroeconomic Equilibrium reached?
300
States that paper money and coins are equal to a certain amount of gold.
What is the definition of the Gold Standard?
400
Many sellers offer similar, but not standardized, products
What is the definition of Monopolistic competition?
400
C = Consumption I = Investments G = Gov't Spending N = Net Exports
What is the correct word(s) that corresponds with each variable in the GDP calculation?
400
An institution that collects funds from savers and invests them.
What is a Financial Intermediary?
400
Rising prices while businesses struggle.
What is the definition of stagflation?
400
Failure to pay back loans
What is the definition of default?
500
1.) Few sellers, many buyers; 2.) Standardized or differentiated products; 3.) More control of prices; 4.) Little freedom to enter or exit the market
What are the four characteristics of an Oligopoly?
500
Conumption
What is the category in which one would consider transfer payments in the factors of GDP?
500
A collection of diverse stocks that is professionally managed.
What is a mutual fund?
500
Business decisions, changes in interest rates, consumer expectations, and external issues.
What are the four factors that affect Business Cycles?
500
Standard of value determines the economic worth in the exchange process, whereas store of value deals with something that holds it value over time.
What is the difference between standard of value and store of value?