Economics is all about maximizing one's ______________
Alternative that must be forgone in order to pursue a certain action. Put another way, the benefits you could have received by taking an alternative action
What are all 6 traits of a Market Economy? No partial points
'process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one.
To use price discrimination sellers must be able to prevent ____________, which means they must prevent consumers who buy an item at a lower price from reselling it at a higher price.
_____________ policy is set by congress and the White house. It involves the authority to tax and spend
Janet Yellan is one of the primary driver's of setting_______ policy at the ______________
Funds the bank must hold in cash, either in their vaults or on deposit at a Federal Reserve Bank
The buying and selling of government securities through primary dealers by the Federal Reserve in order to control the money supply
The interest rate charged by the federal reserve to banks for loans through their discount window
The economic value of an employee's skill set
___________________ is when two parties in a transaction do not have the same information. I need the term and an example
What is GDP? words, definition and equation necessary
What is CPI? words and definition
The market in which banks can borrow or lend reserves, allowing banks temporarily short of their required reserves to borrow from banks that have excess reserves
The actual profit from an investment after adjusting for inflation
A type of security that signifies ownership in a corporation and represents a claim on part of the corporation's assets and earnings
A debt investment in which an investor loans money to an entity (typically corporate or governmental) which borrows the funds for a defined period of time at a variable or fixed interest rate.
The ability to convert an asset to cash quickly
The theory that all market participants receive and act on all of the relevant information as soon as it becomes available
What is the cost or benefit that affects a party who did not choose to incur that cost or benefit
Government has to provide these goods or services because of the free rider problem
what do you call legislation to limit monopolistic behavior?
what is a Laffer curve and what economic theory support
What are all 6 justifications for government intervention in the economy? Also I need a specific example of each one. No partial points
utility
Opportunity Cost
Private Property Markets and Prices Incentives/Self Interest Freedom of choice (this is debatable but is part of the “classic definition”) Competition Limited government role
Creative destruction
Arbitrage
Fiscal
Monetary and Federal Reserve
Reserve Requirement
Open Market Operations
Discount Rate
Human Capital
asymmetric information
Gross Domestic product, the total value of goods produced and services provided in a country during one year.
Consumer Price Index: A measure that examines the weighted average of prices of a number of consumer goods and services
Federal funds market
Real Return
Stocks
Bonds
liquidity
efficient markets theory
Externalities
Public Goods
Anti-trust laws
supply side economics
Maintaining Legal and social Framework, correcting externalities, providing public goods, redistributing wealth, stabilizing the economy, and regulating competiyion
