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Economics 151

This class was created by Brainscape user Mitchell Luckie. Visit their profile to learn more about the creator.

By: Mitchell Luckie
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Decks in this class (10)

Topic 2 - Demand, Supply and Market Equilibrium
What is the definition of supply,
What is the definition of quantit...,
What is the law of supply
16  cards
Topic 3 - Applications of the Demand and Supply: Positive Considerations
What is elasticity,
Define price elasticity of demand,
How is price elasticity of demand...
30  cards
Topic 4 - Applications of the Demand and Supply: Normative Considerations
What does the term welfare econom...,
What is consumer surplus used for,
What is producer surplus used for
31  cards
Topic 5 - Thinking Strategically
What is game theory,
What is a social dilemma,
What is the tragedy of the commons
13  cards
Topic 6 - Measuring a Nation's Income and the Cost of Living
Define macroeconomics,
What is gdp,
Why does the gdp rely on the mark...
33  cards
Topic 7 - Saving and Investment in a Closed Economy
True false financial institutions...,
What are the two groups of financ...,
How are savings calculated
48  cards
Topic 8 - Nominal and Real Exchange Rates
Where does the demand for nz come...,
Where does the supply of nz come ...,
What is the nominal exchange rate
18  cards
Topic 9 - Saving and Investment in an Open Economy
What are net exports nx,
What is a trade deficit,
What is a trade surplus
12  cards
Topic 10 - Open Economy Macroeconomics
0  cards
Topic 11 - Money, Aggregate Demand and Supply, Monetary and Fiscal Policy
True false money has multiple mea...,
What is the definition of money,
What are the three principal uses...
66  cards

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Economics 151

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