shcards Set

Exam 1 Study Guide

1.       Along an Indifference Curve

2.       Areas of Economics

3.       Assumption About Consumers

4.       Budget Line

5.       Budget Lines

6.       Cardinal Utility

7.       Ceteris Paribus

8.       Changes in Demand

9.       Consumption

10.    Cross-Price Elasticity of Demand

11.    Contractionary Monetary Policy

12.    Contractionary Fiscal Policy

13.    Demand Curve

14.    Demand Curve Slope

15.    Engel Curve

16.    Expansionary Fiscal Policy

17.    Expansionary Monetary Policy

18.    Expenditure Approach

19.    GDP Vs GNP

20.    Households and Businesses

21.    Income Approach

22.    Indifference (A.K.A. Utility) Curves

23.    Indifference Curve

24.    Indifference Curve and Budget Line

25.    Indifference Curve Properties

26.    Law of Demand

27.    Law of Diminishing Marginal Utility  

28.    Marginal Rate of Substitution

29.    Movement Along the Demand Curve

30.    Normal Goods Vs Inferior Goods

31.    Normative Economics

32.    Number of Farms in Louisiana

33.    Opportunity Costs

34.    Ordinal Utility

35.    Perfect Complements

36.    Perfect Substitutes

37.    Population Increases Impact on The Demand Curve

38.    Positive Economics

39.    Price Elasticity

40.    Scarcity

41.    Shift in Demand Curve

42.    U.S. GDP

43.    U.S. GNP

44.    Where the Indifference Curve and Budget Line Are Tangent