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15 Cards in this Set
- Front
- Back
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Microeconomics
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the study of how households and firms make decisions and how they interact in markets
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Macroeconomics
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the study of economy-wide phenomena, including inflation, unemployment, and economic growth
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Gross Domestic Product
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the market value of all final goods and services produced within a country in a given period of time
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Consumption
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spending by households on goods and services, with the exception of purchases of new housing
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Investment
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spending on capital equipment, inventories, and structures, including household purchases of new housing
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Government Purchases
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spending on goods and services by local, state, and federal governments
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Net Exports
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spending on domestically produced goods by foreigners (exports) minus spending on foreign goods by domestic residents (imports)
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Nominal GDP
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the production of goods and services valued at current prices
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Real GDP
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the production of goods and services valued at constant prices
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GDP Deflator
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a measure of the price level calculated as the ratio of nominal GDP to real GDP times 100
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Adaption
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refers to the processes by which organisms cope with environmental forces and stresses, such as those posed by climate and topography or terrains, also called land forms
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Anthropology
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the study of the human species and its immediate ancestors
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Applied Anthropology
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the application of anthropological data, perspectives, theory, and methods, to identify, assess, and solve contemporary social problems.
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Archaeological Anthropology
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reconstructs, describes, and interprets human behavior and cultural patterns through material remains
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Biocultural
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refers to the inclusion and combination of both biological and cultural perspectives and approaches to comment on or solve a particular issue or problem
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