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…
a cost that is beyond recovery at the moment a decision must be made - irrational to let sunk costs influence current decisions Marginal Cost the increase in total cost resulting from carrying otu one additonal unit of activity marginal benefit the increase in totoal benefit resulting form carrying...
successive unites of a good provide a smaller and smaller increment of added utility (ex. the first unit provides 10 utils while the second adds only 8 utils) Edgeworth box formed by superimposing the endowment points of two individuals-- sum total of goods both people have in the possession...
CH 15 Quiz 20個詞語 regina_hunter3預覽 Macro Unit 3 14個詞語 gscherling4預覽 Measuring GDP and Well-being 老師34個詞語 joe_glaudino預覽 Econ Midterm 1 42個詞語 wemf3預覽 Macroeconomic Perspectives on AD/AS Model 老師43個詞語 Elizabeth_Nichols42預覽 Macroeconomics Basics 9個詞語 lcrolle預覽 Mar...
用Quizlet學習並牢記包含Macroeconomics、Gross Domestic Product (GDP)、Real GDP等詞語及更多內容的單詞卡。
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。
用Quizlet學習並牢記包含Who falls into the employed category?、Who falls into the unemployed category?、Who is not considered to be in the labor force?等詞語及更多內容的單詞卡。
One firm that can supply the entire market at a lower per-unit cost than could two or more firms.I.E. Government will regulate something like water - forcing it to lower its price and increase output. Externality A cost or a benefit that affects neither the buyer nor seller, but instead...
arise from the way inflation makes money a less reliable unit of measurement nominal interest rate the interest rate actually paid for a loan real interest rate the nominal interest rate minus the rate of inflation disinflation the process of bringing the inflat...
Per-unit production costs is the cost you would physically spend to manufacture a item. Core inflation reports price changes without volatile food and energy prices. Nominal income Regular income that has not yet been adjusted down to correspond with decreasing purchasing power or up to correspond ...