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Principles Of Macroeconomics

Lapoltia Wallace

Macr terms and definitons: Good Luck!

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2.Goods purchased for final use, not for resale
5.Goods expected to last less then a year
7.the degree to which an asset can easily be exchanged for money
10.goods expected to last at least a year
12.Goods/services bought by ppl in one country thats produced in other countries
13.A phrase in the business cycle in which real GDP declines, inflation moderates, and unemployment emerges
15.The top of a business cycle
17.The bottom of a business cycle
18.the banks statement of liabilities and assets
19.paper money that is not backed by or convertible into any good
20.the change in saving induced by a change in income
22.A rise in the ratio of capital to labor
23.The part of national income not spent on consumption
24.the ratio of capital stock to GDP
27.Income received but not earned
29.the market demand and supply dont produce enough of, in some people's opinion
31.Workers employed in jobs that dont utilize their talents or experience
33.Alternating periods of growth and decline in an economy's GDP
34.coins and paper money
35.The central bank of the United States
36.Goods/services produced by ppl in one country thats sold in other countries
38.aid program that provides low-income people with stamps for food and related items
40.Health care program through Social Security to anyone over 65 and applicable
41.Severe Recession
42.A tax on an imported good
43.GDP adjusted for changes in the price level
1.A limit on the quantity of a specific good that can be imported
3.Personal income minus direct taxes
4.Government spending euals tax revenues
6.People who are gainfully employed or actively seeking employment
8.The interest rate the Fed charges banks that borrow reserves from it
9.Investment spending that producers intend to undertake
11.Tax revenues exceed government spending
14.Government provided assistance
16.Benefits can not be withheld from anyone
21.Goods produced for consumption that remain unsold
25.Goods used to produce other goods
26.Exporting a good/service at a price below its cost of production
28.Public debt held by foreigners
30.An increase in the price level
32.Productive activities that are instantneously consumed
37.The exchange of one good for another, without the use of money
39.Health care program through Social Security for low income/disabled

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