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8 Cards in this Set
- Front
- Back
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Monetary policy |
Changing the money supply in order to change the economy |
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Balance of trade |
Balance between imports and exports between two countries |
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Terms of trade |
How many imports you can get for one unit of export |
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Cost push inflation |
Inflation caused by an increase in the cost of production |
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Demand pull inflation |
Inflation caused by an increase in demand for goods |
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Stagflation |
Simultaneous high unemployment and high inflation |
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Fractional reserve banking |
Banking system where banks are required to hold a percentage of their deposits on reserve |
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Excess reserves |
Difference between the amount banks hold and the amount they have to hold |
