When someone actively looks for a job but can’t find one surplus cyclical peak scarcity when the prices goes up quantity supplied goes up When price goes up quantity demanded goes down frictional contractionary fiscal policy expansionary monetary policy trough contraction/recession opportunity cost absolute advantage expansion land labor capital and entrepreneurship equilibrium increase in the price level of goods/services expansionary fiscal policy the components of GDP structural contractionary monetary policy shortage comparative advantage When someone actively looks for a job but can’t find one surplus cyclical peak scarcity when the prices goes up quantity supplied goes up When price goes up quantity demanded goes down frictional contractionary fiscal policy expansionary monetary policy trough contraction/recession opportunity cost absolute advantage expansion land labor capital and entrepreneurship equilibrium increase in the price level of goods/services expansionary fiscal policy the components of GDP structural contractionary monetary policy shortage comparative advantage
(Print)
When someone actively looks for a job but can’t find one
surplus
cyclical
peak
scarcity
when the prices goes up quantity supplied goes up
When price goes up quantity demanded goes down
frictional
contractionary fiscal policy
expansionary monetary policy
trough
contraction/recession
opportunity cost
absolute advantage
expansion
land labor capital and entrepreneurship
equilibrium
increase in the price level of goods/services
expansionary fiscal policy
the components of GDP
structural
contractionary monetary policy
shortage
comparative advantage
