2. Begin

3. $100 $200 $300 $400 $500 Demand and Supply ProductionPossibilities GDP Aggregate demand And supplyInflation&Deflation Comparative and Absolute advantage

4. C1-$100 - $100

5. C1-$200 - $200 Comparative Advantage

6. C1-$300 - $300 Mexico

7. 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

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

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

10. 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

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

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

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

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

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

16. 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

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

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

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

20. C3-200 - $200 Goods and services bought from one firm by another to be Used as inputs into the production of final goods and services.

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

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

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

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

25. 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

26. 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

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

28. 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.

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

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

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

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

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