this ain't MACRO
You sacrifice something else to get something.
What is opportunity cost?
GDP adjusted for inflation is known as this.
What is Real GDP?
You grow pineapples really well. I knit sweaters like a pro. Instead of both of us doing both, we trade and both win.
What is Comparative Advantage?
This is the rate that the FED charges commercial banks.
What is the discount rate?
She is the President of the ESA.
Who is Thi?
This does not provoke a shift in the demand curve of apples.
What is the price of apples?
This is the term for inflation combined with stagnant economic growth and high unemployment.
What is Stagflation?
This is the current baseline tariff imposed on all US imports.
What is 10%?
This Tippie Econ professor has worked at the Dallas FED for many years.
Who is Professor Anil Kumar?
India Cafe made an appearance at this ESA event.
I am super happy when I eat my first slice of pizza; I am happy when I eat my second slice; I am kinda full when I eat my third; I don't really wanna eat my fourth; I'm full
What is diminishing marginal utility?
Classical economists believe that wages and prices are this in the long run.
What is flexible?
Importing a MAX. of 12 barrels of oil.
What is a quota?
The Fed uses this phrase when it's carefully adjusting interest rates to avoid harming the economy.
What is soft landing?
This person is the honorable ESA's QR Code Guardian.
Who is Jerome Powell?
Firms should produce where marginal cost equals this.
What is marginal revenue?
Natural unemployment includes these two types.
What are Frictional and Structural unemployment?
To protect a growing domestic industry like tech, a country might impose tariffs or give subsidies under this economic rationale.
What is infant industry protection?
The Federal Reserve was created in this year to stabilize the banking system.
What is 1913?
This is the year ESA was founded.
You increase the price of the toilet paper that you are selling, and as a result, your revenue increases. The demand for toilet paper must have this property.
What is inelastic demand?
This curve in Keynesian theory is horizontal at low levels of output.
What is the Short-Run Aggregate Supply (SRAS) curve?
This economic concept explains why resource-rich countries sometimes experience deindustrialization and a manufacturing decline due to large foreign currency inflows.
What is Dutch disease?
During the 2008 crisis, the Fed helped rescue the American International Group insurance giant to prevent systemic collapse under this justification.
What is "too big to fail"?
This is the number of posts on the ESA Instagram.
What is 17?