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$100 $200 $300 $400 $500 Demand and Supply ProductionPossibilities GDP Aggregate demand And supplyInflation&Deflation Comparative and Absolute advantage

C1-$100 - $100

C1-$200 - $200 Comparative Advantage

C1-$300 - $300 Mexico

C1-$400 - $400 If Mexico has 150 bikes and 250 tires while the US has 140 bikes And 150 tires, who has the higher comparative advantage? United States

C1-$500 - $500 Making a sacrifice in a economic choice Opportunity Cost

C2-$100 - $100 When consumers buy as much as they can for as little money possible Law of Demand

C2-$200 - $200 When producers desire to produce as much as they can and sell it For as much as they find possible Law of Supply

C2-$300 - $300 As price increases, quantity does too Supply

C2-$400 - $400 What occurs when the quantity supplied is about 250 and the Quantity demanded is 350? Surplus!

C2-$500 - $500 Point at which supply and demand meet: Equilibrium

C3-$100 - $100 Point at which an economy operates inside the PPC/PPF graph Inefficiency

C3-$200 - $200 Point at which is outside the PPC/PPF graph is? Unattainable

C3-$300 - $300 The more you have of something, the less satisfaction is obtained With each new acquired unit of it is known as Decreasing Marginal Utility

C3-$400 - $400 Law of Increasing Opportunity Cost

C3-$500 - $500 What shows the tradeoffs in the production of goods? Production Possibilities Frontier (PPF)

C4-$100 - $100 Where Land, Labor, capital, entrepreneurship and other resources are Exchanged.,

C $200 Goods and services bought from one firm by another to be Used as inputs into the production of final goods and services.

C3-$300 - $300 Total spending of domestically produced final goods And services in the economy. C+I+G+XN Aggregate Spending

C3-$400 - $400 Difference between the value of exports and the value of imports. Net Exports

C3-$500 - $500 Showa exchange of money, products, and resources between businesses, households, and government. Circular Flow Model

C4-$100 - $100 A combination of inflation and recession, usually Resulting from a supply shock. Stagflation

C4-$200 - $200 A curve that shows the relationship in he short run between the price and quantity of real GDP supplied by firms SRAS Curve

C4-$300 - $300 A curve that shows the relationship in the long run b/w the price level and quantity of real GDP supplied. SRAS Curve

C4-$400 - $400 What are the shifters of aggregate demand? Consumption, investment, government actions/spending, and Changes in net exports

C4-$500 - $500 What are the shifters of aggregate supply? Changes in input prices, changes in productivity/technology, business taxes and subsidies and government regulations.

C4-$100 - $100 Type of employment caused by workers voluntarily changing jobs By temporary layoffs. “In between jobs” Frictional Unemployment

C4-$200 - $200 Unemployment of workers whose skills are not demanded by employers. Structural Unemployment

C4-$300 - $300 Measured by CPI and consists of two types cost-push and demand pull Inflation

C4-$400 - $400 This inflation will self limit and die out on its own by resulting in a recession. Cost-Push Inflation

C4-$500 - $500 This is consumer driven and will continue until excess spending halts. Demand Pull Inflation