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Economics (Crash Course)
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Economics (Crash Course)
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25 Questions

1. How is inflation calculated

2. calculate debt by

3. costs that vary depending on a company's production volume

4. __________ are debt instruments

5. the wealth of nations, person serving self interest could help the common good, free trade

6. Since we have to keep the market basket constant over time, a traditional _____ won't adjust for either new products or increases in product quality.

7. Excess demand - that is quantity demanded is greater than quantity supplied

8. state of the economy in which production represents consumer preferences; central planners are less likely to be ___________

9. A cycle or series of cycles of economic expansion and contraction

10. The effectiveness of productive effort, especially in industry, as measured in terms of the rate of output per unit of input.

11. shows different combinations of two goods being produced using all resources efficiently (inside)- inefficient (on)-efficient (outside)-impossible

12. The amount of funds that a depository institution must hold in reserve against specified deposit liabilities

13. the process of removing or reducing state regulations

14. Analysts and policymakers use average price changes in a market basket as the primary gauge of ___________

15. When interest rates are ________, borrowers borrow ________ and spend ________.

16. a tax in which the tax rate increases as the taxable amount increases

17. A decrease in the general price level of goods and services

18. anything having the characteristics of non-exclusion and non-rivalry

19. government controls productions seen in communism and socialism

20. The amount of physical goods and services that can be bought by a given amount of money

21. An increase in a currency supply relative to the number of people using it, resulting in rising prices of goods and services over time

22. when sellers raise prices for essential items to a much higher level than is considered reasonable

23. when the full cost of a product doesn't line up with the costs that manufacturers or consumers pay

24. Refers to a period of economic stability starting the mid-1980s characterised by low inflation, positive economic growth, and the belief that the boom and bust cycle had been overcome

25. GDP per capita in the U.S. today is about _x higher than 100 years ago

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