The rate, or price, at which one currency can be exchanged for another
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Exchange Rates
Increase Government Purchases, Decrease Taxes
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Expansionary Fiscal Policy
When the price level rises, the real value of people's nominal assets (like money) falls,
reducing the real value of their nominal wealth
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Real Balances
1/rr or Change in M1/Change in Reserves
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Money Multiplier
If the price level for a country rises, domestically-produced goods become more
expensive relative to foreign goods
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Foreign Purchases
The fraction of checkable deposits that banks must keep on hand as reserves, either
as currency or on deposit with the Federal Reserve
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Reserve Requirement
A situation in which the government spends exactly what it collects in revenue
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Balanced Budget
Inflation = (CPI2 - CPI1)/CPI1 x 100
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Inflation Calculation
Increase in the value, or price, of one currency relative to another
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Appreciation
The study of the economy on a small scale.
Individuals, businesses, small markets.
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Microeconomics
Tabular representation between the price of the good and the quantity demanded
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, Demand Schedule
A rule of thumb used to estimate, given a constant rate of growth, how long it will
take for a value to double in size.
Time to Double = 72/Growth Rate
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Rule of 72
Taking points from a production possibilities schedule and plotting them. The line
created acts as a boundary.
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Production Possibilities Frontier (PPF)
Do people use it in transaction?
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Medium of Exchange
GDP Price Index = (Nominal GDP/Real GDP) x 100
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Exchange Rates
Increase Government Purchases, Decrease Taxes
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Expansionary Fiscal Policy
When the price level rises, the real value of people's nominal assets (like money) falls,
reducing the real value of their nominal wealth
,Give this one a try later!
Real Balances
1/rr or Change in M1/Change in Reserves
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Money Multiplier
If the price level for a country rises, domestically-produced goods become more
expensive relative to foreign goods
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Foreign Purchases
The fraction of checkable deposits that banks must keep on hand as reserves, either
as currency or on deposit with the Federal Reserve
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Reserve Requirement
A situation in which the government spends exactly what it collects in revenue
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Balanced Budget
Inflation = (CPI2 - CPI1)/CPI1 x 100
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Inflation Calculation
Increase in the value, or price, of one currency relative to another
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Appreciation
The study of the economy on a small scale.
Individuals, businesses, small markets.
Give this one a try later!
Microeconomics
Tabular representation between the price of the good and the quantity demanded
Give this one a try later!
, Demand Schedule
A rule of thumb used to estimate, given a constant rate of growth, how long it will
take for a value to double in size.
Time to Double = 72/Growth Rate
Give this one a try later!
Rule of 72
Taking points from a production possibilities schedule and plotting them. The line
created acts as a boundary.
Give this one a try later!
Production Possibilities Frontier (PPF)
Do people use it in transaction?
Give this one a try later!
Medium of Exchange
GDP Price Index = (Nominal GDP/Real GDP) x 100
