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11 Cards in this Set
- Front
- Back
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Demand pull inflation |
Too much money chasing too few goods |
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Cost push inflation |
Rising cost of raw materials |
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Who wins to inflation? |
Specialized workers Long term borrowers |
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Who loses to inflation? |
Unskilled law skilled workers People on a fixed income Long term savers |
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G.D.P |
The total value of all goods and services produced and sold in the USA in a given year |
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Unemployment |
Job seekers/labor force |
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Frictional |
Naturally occurs between jobs |
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Seasonal |
Lawn care, tourism, mowing, farming, ups |
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Structural |
Job seekers don't have skills for jobs available |
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Cyclical |
Bussinesses don't have enough demand for labor |
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3 roles of banks |
1)hold deposits 2) collect and transfer funds 3) fractional reserve banking |
