Kent Williams
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Economic Final Review

Resources used to produce goods and services

Production Possibilities Curve

Opportunity Cost

Government decision making

Free Market Philosopher

Government Controlled Economy

Draw and label Supply and Demand Curve

  • Label each line and show surplus, shortage, equilibrium
  • Read and understand graphs

Diversification

What type of financing is used to finance a police or fire station?

Equity

Blue Chip Stock

Dow Jones

Safe investment vs. Risky

GDP vs GNP

Durable – Non-durable

GDP in constant dollars is called?

  • Real vs. Nominal

Economic Business Cycle Label

Final Good vs. Intermediate

Unemployment Types

Normal Unemployment percentage

Market Basket

Workfare

Underemployment

Cost-push

Demand-pull

Poverty statistics

Working poor

Entitlements

Taxes

  • Tax revenues for schools
  • Proportional
  • Regressive
  • Progressive

Discretionary vs. Mandatory spending

Federal budget

Fiscal policies

  • Expansion
  • Contraction
  • Taxes vs. spending

Supply side Economics

Keynesian Economics

Monetary Policy

  • OMO
  • Discount Rate
  • RRR

Federal Reserve - #’s

  • Board of Gov.
  • Districts

FOMC

Exports vs. Imports

Currency appreciation vs. depreciation

Exchange rates

Infant Industry

Specialization

Comparative vs. Absolute advantage

Per Capita GDP

Brain Drain

World development assistance providers

Perestroika and glasnost

Developed vs Less Developed Nations

 

 

 

 

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Sunday
4/20/14
Monday
4/21/14
Comm Tech 1A
New Electronic Device Assignment
Tuesday
4/22/14
Wednesday
4/23/14
Thursday
4/24/14
Comm Tech 1A
Tab Review Assignment
Friday
4/25/14
Saturday
4/26/14
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