CP Economics http://quizlet.com/11243709/economics- EOCT ...

CP Economics EOCT Vocabulary Terms

1. absolute advantage



2. aggregate demand

3. aggregate supply

4. antitrust laws

5. balance of trade

6. barrier to entry

7. budget deficit

8. budget surplus

9. business cycle

10. capital

11. centrally planned economy

12. collateral

13. collusion

14. comparative advantage

15. competition

16. complements

17. Consumer Price Index (CPI)

18. consumer sovereignty

19. contraction

20. cost-push inflation

21. credit

22. cyclical unemployment

23. deductible

24. demand

25. demand-pull inflation

26. demand-side economics

27. depression

28. deregulation

29. discount rate

30. discouraged worker

31. discretionary spending

32. easy money policy

33. economic growth

34. economies of scale

35. efficiency

36. elasticity of demand

37. entitlement

38. European Union (EU)

39. exchange rate

40. expansion

41. export

42. externality

43. factor market

44. factors of production

45. land, labor, capital, entrepreneurship

46. Federal Open Market Committee (FOMC)

47. Ben Bernanke

48. fiscal policy

49. fixed income

50. free enterprise

51. free rider

52. free-trade zone

53. frictional unemployment

54. full employment

55. Gross Domestic

Product 56. human capital 57. import 58. incentive 59. inelastic 60. inflation 61. intermediate

goods 62. invisible hand 63. Keynesian

economics 64. laissez faire 65. land 66. law of demand 67. law of supply 68. macroeconomics 69. mandatory

spending 70. market economy 71. market failure 72. microeconomics 73. mixed economy 74. monetary policy

75. monopolistic competition

76. monopoly 77. mutual fund 78. NAFTA 79. national debt 80. nominal GDP 81. oligopoly 82. open market

operations 83. opportunity cost 84. partnership 85. peak 86. perfect

competition 87. price ceiling 88. price floor 89. price level 90. principal 91. product market 92. production

possibilities curve 93. progressive tax

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