100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
AP Macroeconomics Crash Course Vocabulary Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution $7.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. AP Crash Course
  4.  
  5. AP Crash Course
  6.  
  7. AP Crash Course

Exam (elaborations)

AP Macroeconomics Crash Course Vocabulary Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

 11 views  0 purchase
  • Course
  • AP Crash Course
  • Institution
  • AP Crash Course

AP Macroeconomics Crash Course Vocabulary Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

Preview 2 out of 6  pages

Document information

  • June 18, 2024
  • 6
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ap macroeconomics crash course vocabulary question

Written for

  • AP Crash Course
  • AP Crash Course
  • AP Crash Course
All documents for this subject (100)

Seller

avatar-seller
Hkane

Reviews received

Content preview

AP Macroeconomics Crash Course
Vocabulary
Absolute Advantage - CORRECT ANSWER-A country or individual has an
absolute advantage in the production of a good when the country can produce
the good using fewer resources than another country or individual.

Aggregate Demand (AD) - CORRECT ANSWER-A schedule or curve that shows
the total quantity demand for all goods and services of a nation at various price
levels at a given period of time.

Aggregate Supply (AS) - CORRECT ANSWER-The total amount of goods and
services that all the firms in all the industries in a country will produce at various
price levels in a given period of time.

Appreciation - CORRECT ANSWER-An increase in the value of one currency
relative to another, resulting from an increase in demand for or a decrease in
supply of the currency on the foreign exchange market.

Balance of Payments - CORRECT ANSWER-Measures all the monetary
exchanges between one nation and all other nations. Includes the current
account and the capital account.

Bonds - CORRECT ANSWER-A certificate of debt issued by a company or a
government to an investor.

Budget Deficit - CORRECT ANSWER-When a government spends more than it
collects in tax revenues in a given year.

Business Cycle - CORRECT ANSWER-A model showing the short-run periods of
contraction and expansion in output experienced by an economy over a period of
time.

Capital - CORRECT ANSWER-Human-made resources (machinery and
equipment) used to produce goods and services; goods that do not directly

, satisfy human wants. Sometimes separated into human capital (education,
know-how) and physical capital (tools you can touch and operate).

Capital Account - CORRECT ANSWER-Also known as financial account.
Measures the flow of funds for investment in real assets (such as factories or
office buildings) or financial assets (such as stocks and bonds) between a nation
and the rest of the world.

Ceteris Paribus - CORRECT ANSWER-"Other things being equal;" used as a
reminder that all variables other than the ones being studied are assumed to be
constant.

Circular Flow Diagram - CORRECT ANSWER-A model of the macroeconomy
that shows the interconnectedness of businesses, households, government,
banks, and the foreign sectors. Money flows in a circular direction, and goods,
services, and resources flow in the opposite direction.

Classical Economic Theory - CORRECT ANSWER-The view that an economy
will self-correct from periods of economic shock if left alone. Also known as
"laissez-faire".

Comparative Advantage - CORRECT ANSWER-When an individual, a firm or a
nation is able to produce a particular product at a lower opportunity cost than
another individual, firm, or nation. It is the basis of trade between nations.

Consumer Price Index (CPI) - CORRECT ANSWER-An index that measures the
price of a fixed market basket of consumer goods bought by a typical consumer.
The CPI is used to calculate the inflation rate in a nation.

Consumption - CORRECT ANSWER-A component of a nation's aggregate
demand; measures the total spending by domestic households on goods and
services.

Contractionary Fiscal Policy - CORRECT ANSWER-A demand-side policy
whereby government increases taxes or decreases its expenditures in order to
reduce aggregate demand. Could be used in a period of high inflation to bring
down the inflation rate.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Hkane. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $7.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

70055 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$7.99
  • (0)
  Add to cart