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Tools and Measurements
N/A
29
Economics
12th Grade
05/11/2010
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Term
How do we calculate GDP per capital?
 Definition
GDP/Population
Term
Adam Smith studied what kind of economics?
 Definition
Classical Economics
Term
The price of money is known as...
 Definition
Interest
Term
What are the two things that are associated with fiscal and monetary policies
 Definition
taxes and government spending
Term
Interest on our economy is depended on what two things?
 Definition
Supply and Demand of Money
Term
Buisness cycles are
 Definition
recurrent not periodic
Term
tool that economist used to study inflation
 Definition
CPI ( consume price index)
Term
Spending and Taxing policy
 Definition
Fiscal Policy
Term
Federal Reserve has control over what?
 Definition
Supply of Money
Term
what is the policy that allows Federal reserves to increases our money
 Definition
easy money
Term
us economy what is the acceptable amount of inflation
 Definition
3%
Term
Expression too much money chassing too few goods
 Definition
demand pull inflation
Term
When their is high unemployment what should government do
 Definition
decrease taxes or increase government spending
Term
Three major tools avaible to the federal reserve
 Definition
increasing reserve nation, discount rate, open market operations
Term
What do we call increase on goods and services
 Definition
Cost Push Inflation
Term
Stock bonds are not included in what?
 Definition
GDP
Term
Who was the economist that advocated that used fiscal and monetary policies to start the economy
 Definition
John Kaines
Term
What doesnt fit: expansion, peak, depression, recession, trouff
 Definition
depression-no such thing as depression
Term
US total value of all good and service produce is measured by
 Definition
GDP
Term
Danger of a big defficet year after year
 Definition
crowding out
Term
Which phase of buisness cycle associated with no unemployment
 Definition
none of the phases
Term
What three measurements are the most important in our economy
 Definition
inflation, growth, unemployment
Term
buisness cycle which would be at the highest
 Definition
peak
Term
GDP is used to measure
 Definition
growth
Term
if the reserve ratio for a bank is 15% you have 100$ how much is bank allowed to lend
 Definition
85$
Term
Money market why is money downward sloping
 Definition
lower interest rate rather hold not spend buisness will not borrown at high interest rate
Term
group of people helped increasing inflation rates
 Definition
flexible incomes, borrow money
Term
how does the government finance their deficet
 Definition
bonds
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