macro Definitions
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Business
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University
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Medium
Ash Mushro0m
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1.
FLASHCARD QUESTION
Front
policy mix
Back
is a combination of monetary and fiscal policy
example: expansionary fiscal policy + expansionary monetary policy
2.
FLASHCARD QUESTION
Front
V-recession
Back
is a downturn followed by a quick recovery
lasting 1-2 year
3.
FLASHCARD QUESTION
Front
U-recession
Back
is a downturn followed by a slow recovery
lasting 3-5 years
4.
FLASHCARD QUESTION
Front
L-recession
Back
is downturn followed by a very slow recovery
lasting 8-10 years
5.
FLASHCARD QUESTION
Front
Underemployment
Back
is the waste due to the misuse of human resources.
example: putting a hairdresser to fix a car instead of cutting hair.
6.
FLASHCARD QUESTION
Front
economic resources
Back
land - Natural Resources
labor - Human Resources
capital - Produced Resources
7.
FLASHCARD QUESTION
Front
Consumer price index
(CPI)
Back
is a measurement of inflation. By pricing a basket of consumer goods purchased by urban consumers.
example: $100 -> $103 -> Inflation up by 3%
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