A little information about Macro Economics.
Date Submitted: 01/08/2002 07:19:45
Category: / Business & Economy / Economics
Length: 3 pages (913 words)
Category: / Business & Economy / Economics
Length: 3 pages (913 words)
Economic surplus: the benefit of taking an action minus its costs.
Opportunity cost: the value of the next-best alternative that must be foregone in order to undertake an activity
Sunk cost: a cost that is beyond recovery at the moment a decision must be made.
Average benefit: the total benefit of undertaking an activity divided by the units of the activity.
Average cost: the total cost of undertaking an activity divided by the units of …
Is this Essay helpful? Join now to read this particular paper
and access over 480,000 just like this GET BETTER GRADES
and access over 480,000 just like this GET BETTER GRADES
…Zero inflation: when the price level stays roughly constant from year to year.
Stable inflation: CPI rises over time, but at a constant rate; i.e., the inflation rate stays roughly constant from year to year.
Accelerating inflation: CPI rises over time, but at an increasing rate; i.e., the inflation rate rises from year to year.
Capital gains: increases in the value of existing assets.
Capital losses: decreases in the value of existing assets.
Need a custom written paper? Let our professional writers save your time.