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☆☆☆☆☆Cards in this guide (9)
The interest rate banks charge each other on overnight loans
Federal Funds Rate
The idea that too much money in the economy causes inflation
quantity theory: Theory that too much money in the economy causes inflation.
How is an increase in demand represented
by a shift to the right of the demand curve
How does a firm generally respond to a higher demand for its goods
it rations goods
What is a market structure in which many companies sell products that are similar but not identical called
monopolistic competition
What cause the inflation rate to spike up sharply
prices on world oil markets rise steely due to war in the middle east
What are key economic variables that economists use to predict a new phase of a business cycle referred to as
They are called leading indicators. Things such as a drop in sales or foot traffic are all considered leading indicators.
What is the income approach compared with the expenditure approach to calculating GDP
more accurate
If the government uses tax money to pay for long-term investments such as roads or other infrastructure what happens to the economy
investment increases
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