G-11 Planned investment (IP) spending
Positive economics Potential output Price Price ceiling Price floor Price leadership
Price level Price taker Principle of Opportunity Cost
Communism
Comparative advantage Compensating wage differential
Complement Constant cost industry
ATC Constant returns to scale Consumer Price Index
Consumption (C)
H
Household's quantity demanded
1
2
Human capital
I
Imperfect Competition
Imperfect competitive market Implicit cost Imports Income Income effect
Increasing cost industry ATC
Federal Reserve System Fiat money Final good Financial Intermediary
G-6
INTRODUCTION TO ECONOMICS
Firm's quantity supplied
1
2
ห้องสมุดไป่ตู้
Firm's supply curve
Fixed costs Fixed input Flow variable Free rider problem
A
Absolute advantage
Accounting profit Aggregate demand (AD) curve
GDP Aggregate supply (AS) curve
Aggregation Alternate goods
Automatic stabilizers Autonomous consumption
1
2
Market quantity supplied 1
2
Market signals Market structure Market supply curve Means of payment Microeconomics
Minimum efficient scale LRATC
Model Monetary policy
Frictional unemployment
Full employment
G
Game theory
GDP price index GDP GDP
Government demand for funds curve
Government franchise
Government purchases (G) Gross domestic product (GDP)
Dominant strategy
Duopoly
E
Economic growth Economic profit
Economic system Economics Economies of scale Employment-population ratio (EPR)
Entrepreneurship
Y Average fixed cost
Average standard of living GDP
Average total cost Average variable cost
B
Basic principles of economics
Behavioral economics
Black market Bond Boom
Long-run average total cost
M
Macroeconomics Marginal approach to profit
Marginal cost Marginal product of labor Marginal propensity to consume Marginal revenue
GDP Expenditure approach
Explicit collusion Explicit cost
G-5 Exports Externality
F
Factor payments Factor payments approach
GDP Federal funds rate Federal Open Market Committee
Private investment (I)
G-12
INTRODUCTION TO ECONOMICS
Production function
Real interest rate
Productive inefficiency
Profit Protectionism
Pure private goods Pure public good
Money demand curve
Money supply curve
Monopolistic competition
G-10
INTRODUCTION TO ECONOMICS
Monopoly firm Monopoly market
N
National debt Natural monopoly Natural oligopoly Net exports (NX) Net investment Net taxes Network externalities Nominal interest rate
L
Labor Labor force Labor productivity
G-8
INTRODUCTION TO ECONOMICS
Land Law of demand Law of diminishing marginal returns
Law of diminishing marginal utility
Resource allocation
G-13
Resource markets Rivalry
S
Scarcity Seasonal unemployment Self-correcting mechanism Short run Short side of the market Shortage
Shutdown price Shutdown rule
D
Decreasing cost industry ATC
Deflation Demand curve facing the firm
Demand deposit multiplier Demand deposits
G-4
INTRODUCTION TO ECONOMICS
Demand schedule
Long-run supply curve Long-run total cost Loss Lumpy input
Law of increasing opportunity cost
Law of supply Loanable funds market Long run Long-run aggregate supply curve
Equilibrium GDP GDP Equilibrium price
Equilibrium quantity
Excess demand Excess demand for bonds Excess reserves Excess supply Excess supply of money Exchange Exchange rate Excludability Exit Expansion
Cartel Cash in the hands of the public Central bank Change in demand Change in quantity demanded Change in quantity supplied Change in supply Coase theorem Command or centrally planned economy
Q
Quota
R
Rational preferences 1
2
Real variable Recession
GDP Relative price Rent controls Repeated play
Required reserve ratio
Required reserves
Reserves Resource
Simplifying assumption
Socialism Sole proprietorship Specialization Spending multiplier
GDP Spending shock Stagflation Statistical discrimination
Short-run macroeconomic equilibrium
Nominal variable Nonmarket production Nonmonetary job characteristic
Nonprice competition Normal goods Normal profit Normative economics
O
Oligopoly Open market operations Opportunity cost
Increasing marginal returns to labor