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Environment and Concepts module, which contains questions and
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The flashcards related to economics will cover these topics:
- Issues and Controversies
- Inflationary theories, measuring inflation, nominal vs. real
price changes, acceleration principle, inflationary gap, exchange
rates, full employment, frictional vs. structural nemployment,
four types of unemployment, Phillips Curve, autonomous vs. induced
investment.
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- GDP and Business Cycles
- Gross domestic product, income vs. expenditure approach, net
domestic product, national income, personal income, disposable
income, gross investment, net investment, closed economy, equilibrium
income, multiplier effect, marginal propensity to consume, marginal
propensity to save, tax vs. regular multiplier, four stages of
business cycles, economic indicators, accelerator theory, liquidity
preference function.
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- International Business
- Comparative vs. absolute advantage, exchange rate, managed float,
purchasing-power parody, spot vs. forward exchange rate, minimizing
currency risks, balance of international payments, current account,
capital account, governmental trade barriers, General Agreement
on Tariffs and Trade, North American Free Trade Agreement, devalued
currency.
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