LU5 Measuring the performance of the economy Chpter 13

studied byStudied by 0 people
0.0(0)
learn
LearnA personalized and smart learning plan
exam
Practice TestTake a test on your terms and definitions
spaced repetition
Spaced RepetitionScientifically backed study method
heart puzzle
Matching GameHow quick can you match all your cards?
flashcards
FlashcardsStudy terms and definitions

1 / 40

encourage image

There's no tags or description

Looks like no one added any tags here yet for you.

41 Terms

1
New cards
2
New cards
3
New cards
4
New cards
5
New cards
6
New cards
7
New cards
8
New cards
9
New cards
10
New cards
11
New cards
12
New cards
13
New cards
14
New cards
15
New cards
16
New cards
17
New cards
18
New cards
19
New cards
20
New cards
21
New cards
22

Monetary Policy

The process by which a central bank manages money supply to achieve specific goals like controlling inflation and stabilizing currency.

New cards
23

Fiscal Policy

The use of government spending and taxation to influence the economy.

New cards
24

Economic Growth

An increase in the production of goods and services in an economy over a period of time.

New cards
25

Business Cycle

The fluctuations in economic activity characterized by periods of expansion and contraction.

New cards
26

Cyclical Unemployment

Unemployment that results from economic downturns or recessions.

New cards
27

Structural Unemployment

Unemployment resulting from industrial reorganization, typically due to technological change.

New cards
28

Seasonal Unemployment

Unemployment that occurs at certain times of the year when demand for labor is lower.

New cards
29

Opportunity Cost

The loss of potential gain from other alternatives when one alternative is chosen.

New cards
30

Market Equilibrium

The state in which supply and demand are balanced, resulting in stable prices.

New cards
31

Supply and Demand

The fundamental economic model of price determination in a market.

New cards
32

Price Elasticity of Demand

The measure of how much demand for a good responds to a change in price.

New cards
33

Disposable Income

The amount of money that households have available for spending and saving after taxes.

New cards
34

Capital Flight

The large-scale exit of financial assets from a country due to economic or political instability.

New cards
35

Trade Deficit

When a country's imports exceed its exports, resulting in a negative balance of trade.

New cards
36

Foreign Direct Investment (FDI)

Investment made by a company or individual in one country in business interests in another country.

New cards
37

Tariff

A tax imposed by a government on imported goods.

New cards
38

Quota

A limit on the amount of a specific good that can be imported into a country.

New cards
39

Subsidy

A financial assistance granted by a government to promote economic activity and support local businesses.

New cards
40

Natural Rate of Unemployment

The level of unemployment that exists when the economy is healthy and growing.

New cards
41

Human Capital

The skills, knowledge, and experience possessed by an individual that can affect their economic value.

New cards
robot