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11 Cards in this Set

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Demand pull inflation

Too much money chasing too few goods

Cost push inflation

Rising cost of raw materials

Who wins to inflation?

Specialized workers


Long term borrowers

Who loses to inflation?

Unskilled law skilled workers


People on a fixed income


Long term savers

G.D.P

The total value of all goods and services produced and sold in the USA in a given year

Unemployment

Job seekers/labor force

Frictional

Naturally occurs between jobs

Seasonal

Lawn care, tourism, mowing, farming, ups

Structural

Job seekers don't have skills for jobs available

Cyclical

Bussinesses don't have enough demand for labor

3 roles of banks

1)hold deposits


2) collect and transfer funds


3) fractional reserve banking