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Macroeconomics

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

By: Caitlin Rae
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Decks in this class (11)

1.1 What is Economics and Why is it Important?
_____ is the study of how humans ...,
____ means that human wants for g...,
Why is data important in economics
9  cards
1.2 Microeconomics and Macroeconomics
_____ focuses on the actions of i...,
____looks at the economy as a whole,
How do micro and macroeconomics c...
11  cards
1.3 How Economists Use Theories and Models to Understand Economic Issues
How do economists analyze issues ...,
What is the purpose of a theory,
A ______ is a simplified represen...
11  cards
1.4 How to Organize Economies: An overview of Economic Systems
What are 3 ways society organizes...,
In a _______ economy what you pro...,
In a ______ economy economic effo...
12  cards
2.1 How Individuals Make Choices Based on Their Budget Constraint
The combination of all goods give...,
______ is used to indicate what o...,
What is a quick way to determine ...
14  cards
2.2 The Production Possibilities Frontier and Social Choices
What kind of slope does the ppf h...,
____ means that given the availab...,
_______ means that the particular...
12  cards
2.3 Confronting Objections to the Economic Approach
What are two arguments against ec...,
What 3 themes do the tradeoff dia...,
What is the theme of scarcity
13  cards
3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services
Economists use the term _______ t...,
What are two things are demands b...,
_______ is what a buyer pays for ...
22  cards
3.2 Shifts in Demand and Supply for Goods and Services
What two factors affect demand,
The _______ indicates the effect ...,
Any supply and demand curve is ba...
19  cards
3.3 Changes in Equilibrium Price and Quanitity: The Four Step Process
What are the four steps in identi...,
What four standard pieces of info...,
A _______ in a supply or demand c...
3  cards
Module 2 Video: Price Elasticity of Demand
_______ price change in quantity ...,
True of false price elasticity of...,
Since price and quantity change i...
9  cards

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Macroeconomics

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