Economics the study of choice under scarcity Cost-Benefit Principle an individuals should take an action if the marginal benefits are greater than the marginal costs Economics Surplus Benefit of taking an aciton minus the cost rational person if economics surplus is positive Opportunity Costs what must...
the study of the economy as a whole, including topics such as inflation, unemployment, and economic growth 點擊卡片即可翻轉 👆 Melissa_Barrow3老師 Quizlet上的頂尖創作者 · 2年前建立 分享 學生們也學習了 學習指南 ECON 201 EXAM 2 151個詞語 ...
用Quizlet學習並牢記包含Macroeconomics、Involves deduction and is descriptive; study of what is、involves induction and is prescriptive; what to be opinion等詞語及更多內容的單詞卡。
the study of economic aggregate variables (something that gets summed up in the economy -- GDP) positive economies "how DO things work" (ex. how does something impact market behavior) normative economics "how SHOULD things work (ex. making value judgements and considering ethical behavior) ...
2. Peaks occur when the economy is functioning at capacity. 3. Phases of the cycle can vary by intensity and duration; measured by the NBER and DOL. 4. Cycles are dated by the National Bureau of Economic Research (NBER) Macroeconomics 1. The field of economic study that describes how ...
is the market value of all final goods and services produced within a country in a given period of time Microeconomics The study of how households and firms makes decisions and how they interact in markets Macroeconomics the study of economy-wide phenomena Income Measure GDP by adding all compone...
用Quizlet學習並牢記包含1) When ___ in a market, the total net benefit to society is maximized. A) deadweight loss is maximized B) a competitive equilibrium is achieved C) consumer surplus is minimized D) producer surplus is minimized、Hourly Wage (d
用Quizlet學習並牢記包含What is our "base" measure of standard of living?、How rapidly GDP per person grew in the typical year、Why can rankings of countries by Real GDP per person change substantially over time?等詞語及更多內容的單詞卡。
4.1-definition, measurement, and functions of money, 4.2-functions of money, 4.3-the federal reserve system and money creation, 4.4- the demand for money a…
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