Economics: Principles, Problems, and Policies |
Common terms and phrases
aggregate demand aggregate supply allocation American economy amount ANSWER AND ESSAY billion business firms capital chapter commercial bank consumer consumption crease decrease demand curve demand for money deposits determine dollar economic growth economic profit economists effect efficiency employed equal equilibrium price equilibrium real GDP ESSAY QUESTIONS exchange rates Explain exports farm FILL-IN QUESTIONS fiscal policy foreign full employment graph gross domestic product imports income increase indifference curve industry inelastic inflation interest rate Keynesian LDCs less long-run mand marginal cost marginal revenue marginal utility ment monetarists money supply monopolistic competition monopoly MULTIPLE-CHOICE QUESTIONS nations nomic nominal GDP oligopoly payments Phillips Curve price elasticity price level problem public debt purchase purely competitive quantity demanded rate of interest real domestic output real GDP real output reduce rise saving schedule short run supply curve surplus tariff tion trade TRUE-FALSE QUESTIONS union United wage rate workers