Show:
Introductory Economics
Supply And Demand
Measuring The Economy
Fiscal And Monetary Policy
Foreign Exchange Rates
100
It states that society has insufficient productive resources that are needed to fulfill human wants and needs
What is Scarcity?
100
as the price increases, supplier can earn more profit or justify higher marginal costs to produce more
The supply curve is sloping upward because?
100
unemployment cause by workers who are "between jobs" for one reason or another
What is frictional unemployment?
100
production of everything inside of the country
What does the aggregate supply show you?
100
Fewer dollars are necessary to purchase foreign exchange
If the U.S. dollar appreciates, what does it mean?
200
no, it is not possible for a country to have comparative advantage in the production of all products
Is it possible for a country to have comparative advantage in the production of all products?
200
right shift
If the costs of making guns drops, making the price go down, it causes the curve to shift to the right or left?
200
consumption+investment+(government+spending)+(export-imports)
how do you calculate GDP?
200
To control the money supply
What the goal of monetary policy?
200
The value of the net exports are positive
When a country exports more that it imports, is the value of the net exports positive or negative?
300
Example: Joe chooses to buy Tea instead of Soda
Whats an example of opportunity costs?
300
slope down
The law of demand implies that demand curves slope up or down?
300
Hurt, they receive money back slowly
If a banks Extends many fixed-rate loans , is it gain or hurt from unanticipated inflation?
300
They both promote economic stability
How are fiscal policy and the Federal Reserve similar?
300
Ability of investors to move funds among international markets easily
What is international capital mobility?
400
Opportunity costs
When your resources are limited, you have to make choices and give something up. This is called?
400
It will decrease demand and decrease quantity supplied
Suppose that there has been a decline in the price of beef, what effect will this have on the market for pork?
400
Fiscal Policy would Increase taxes
If the economy is in an inflationary period, what actions would fiscal policy take?
400
The interest rate at which banks and other depository institutions lend money to each other
What is federal funds rate?
400
It depreciated
When the value of one currency falls relative to another currency, the exchange rate for the first currency has appreciated or depreciated?
500
Its costs of producing the good, relative to other goods is at least as low as in other countries
According to the theory of comparative advantage, a country will only export a good only if what?
500
decrease in equilibrium price and quantity
If college students left town for the summer, the demand for the meals at the local restaurant would decrease, causing a increase of decrease in equilibrium price and quantity?
500
-Second sale items -Financial assets -Welfare -social security
What is included in GDP?
500
-Lower discount rate -Lower Federal Funds Rate -Buy securities
If the economy is in a recession, what can the FED do about it?
500
They increase demand for domestic currency and make a higher exchange rate in the long run for the country imposing the barriers
What is the importance of trade barriers?