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Will Hobbs
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Decks in this class (20)
Definitions
What is aggregate supplywhat is a...,
What does price level represent,
What is a recession
25
cards
Fiscal Policies
What is fiscal policy,
What are some fiscal techniques i...,
What are the 4 government policies
12
cards
Production Possibility Frontier (PPF)
What assumptions do we make when ...,
What would happen if fewer consum...,
What would happen with the increa...
6
cards
Price Elasticity of Demand (PED)
What is ped,
What is the ped equation,
Why is ped always a positive number
4
cards
Income Elasticity of Demand (YED)
What is yed,
What is the yed equation,
What can normal goods be classifi...
8
cards
Cross Elasticity of Demand (XED)
What is xed,
Xed equation,
What are goods in competitive dem...
9
cards
Price Elasticity of Supply (PES)
What is pes,
Pes equation,
What does the pes graph look like
3
cards
Demand and Supply Model
What assumptions do we make when ...,
What are the preferences of the c...,
What are the preferences of the p...
4
cards
Price Mechanism
What is the price mechanism,
How does the price mechanism work
2
cards
Market Failure
What is market failure,
What does market failure mean,
What is complete market failure
7
cards
Externalities
What is an externality,
What is a negative externality,
Examples of negative externalities
9
cards
Goods Types
What is a private good,
What is a public good,
Examples of public goods
12
cards
Government Intervention & Failure
Why would governments intervene i...,
Why might governments intervene,
What are the aims of government i...
8
cards
Monetary Policies
0
cards
Supply-side Policies
0
cards
Inflation
What is inflation,
Why is having stable inflation im...,
What is deflation
4
cards
The Multiplier
What is the multiplier effect
1
cards
Circular Flow of Income
What is the circular flow of income,
What are the potential injections...,
What are the potential withdrawal...
5
cards
GDP & Economic Growth
What is gdp,
How is economic growth calculated,
What are the two types of economi...
6
cards
Macroeconomic Objectives
What are the 7 macroeconomic obje...,
Why is rapid economic growth unde...,
Why is it important to keep a sta...
4
cards
More about
Economics
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