It’s quite easy to create a memory that would save information, constantly fueled by the power from the network or battery. It’s more difficult to come up with a way to store information without a power source. And these devices must have a large amount of memory, quickly write and read information and to be inexpensive for the cost. One of those “devices” are flashcards or information cards and in our case – its a learning guides for studying economics. You can use it for various reasons: to learn about audit, business, financial or managerial purposes. But if you’re a student, you can use it as test help, study guide, save different kinds of starting materials, as well as teaching materials.
During several years, flashcards became a very useful tool to study. For exam help and learning in economics, use information cards, as they have many advantages:
• Compactness. Flashcards allow you to store up the information related to economics and its branches. Now you don’t need to read the wordage books. Just have a glance at the card and recollect all data.
• Economical. Flashcard has one of the best prices – they are free. They will make your education cheap.
• Reliability. The information is always up to date and is based on the relevant facts.
Economics flash cards are the leaders among books, music, films, documents for business or education. Let’s imagine a situation that you are required to read 100 pages in order to understand the topic and write a really good summary. What should you do? We have an answer! All that you need is to use those magnificent flashcards as they will save your time and nerves.
As monetarists view the equation of exchange: Vis quite stable Which of the following groups of economists is most likely to favor annually balanced Federal budgets? Rational expectations economists In classical theory a decline in aggregate demand will: reduce the price level, but not the levels of output and employment Read more…
NBER National Bureau of Economic Research GDP The monetary value of all the finished goods and services produced within a country’s borders in a specific time period PPI Producer Price Index CPI Consumer Price Index COLA Cost of Living Adjustments BLS Bureau of Labor Statistics NRU Natural Rate of Unemployment Read more…
Economic -science of scarcity -“study of choice” Scarcity -unlimited wants, but limited resources -unable to have everything we desire, so must make choices on how we will use our resources Macroeconomics study of large economy as a whole or economic aggregates (ex: economic growth, government spending, inflation, unemployment, international trade, Read more…
APC average propensity to consume APC=consumption/income APS average propensity to save APS=saving/income MPS Marginal propensity to save MPS=change in saving/change in income MPC Marginal propensity to consume MPC= change in consumption/change in income non-income determinants of consumption and saving wealth borrowing expectations real interest rates business taxes when government is Read more…
fallacy a false assumption/statement/theorem normal good if incomes increase, the demand for this type of good will also increase inferior good if incomes decrease, the demand for this type of good will increase price ceiling sets the maximum legal price a seller may charge for a product/service price floor sets Read more…
economics is the what of science? the scarcity of science what does macroeconomics deal with? the overview of the economy, especially government, business sectors and households across the nation microeconomics deals with what? the details of the economy economic models(theories) these come directly from the scientific method 1. Facts-gather facts Read more…
Economic Performance Success or failure in achieving economic policy objectives Economic Recovery When short-run economic growth takes place after a recession Trend Growth Rate The rate at which output can grow, on a sustained basis, without putting upward or downward pressure on inflation. It reflects the annual average percentage increase Read more…
1.Macroeconomics deals with: the working of the entire economy or large sectors of it. The primary emphasis in macroeconomics is on: the national economy. Scarcity in economics means: not having sufficient resources to produce all the goods and services we want. The opportunity cost of something is: what is given Read more…
economics The study of the choices that individuals and societies make in using scarce resources which nature and previous generations have provided. opportunity cost The best alternative given up when faced with a choice or decision. (Think trade-off) marginalism A process of evaluating the incremental cost or benefit of a Read more…
When economics say scarcity, they mean the human desire for gods exceeds the available supply of time, goods and resources Scarcity is a problem because human wants are unlimited while resources are limited Scarcity is a subjective concept that human wants can never be satisfied Which of the following would Read more…
The FE line shows the level of output at which the ________ market is in equilibrium. Labor The FE line is vertical. The FE line is vertical because the level of output at full employment doesn’t depend on the real interest rate. Which of the following would shift the FE Read more…
Market institution or mechanism that brings together buyers (“demanders”) and sellers (“suppliers”) of particular goods, services or resources Demand schedule or a curve that shows the various amounts of a product that consumers are willing and able to purchase at each of a series of possible prices during a specified Read more…
Economics Studies how we get the MOST out of our RESOURCES Land Labor Capital Entrepreneurial Ability Factors of production Labor Human Resources Ex. Teachers Land Natural Resources Ex. Fossil Fuels Capital Ex. Buildings and equipment Scarcity Purpose and fundamental problem of economics. Limited resources w/ which to meet unlimited wants. Read more…
What does consumption depend on? disposable (after-tax) income and whether people choose to save or to spend. Define the average propensity to consume (APC) The proportion of disposable income that a person spends. what is the equation for APC APC= Consumption/Disposable Income Define Average Propensity to save (APS) the proportion Read more…
B Positive statements: A) imply value judgments must be made. B) are factual and can be tested. C) deal with what ought to be. D) are dealt with primarily in microeconomics. A Economists concerned about the behavior of individual households, firms, and industries are studying: A) microeconomics. B) macroeconomics. C) Read more…
economics the study of how people, firms, and societies use their scarce productive resources to best satisfy their unlimited material wants scarcity the imbalance between limited productive resources and unlimited human wants. Because economic resources are scarce, the goods and services a society can produce are also scarce. trade-offs scarce Read more…
C(a) + I(g) + X(n) + G = GDP The equation underlying the mainstream view of macroeconomics 1. price stickiness 2. unexpected shocks to AD/AS the mainstream view says that instability arises from two sources: monetarism 1. focuses on money supply 2. markets are highly competitive 3. the competitive market Read more…