Home > Blossary: Glossary for Principles of Macroeconomics/Microeconomics
Useful terms for students who major in economy or who learn Principles of Macroeconomics/Microeconomics (N. Gregory Mankiw)

Category: Education

20 Terms

Created by: zzcgood

Number of Blossarys: 7

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A graphical representation of the relation between aggregate expenditures on real production and the price level, holding all ceteris paribus aggregate demand determinants constant. The aggregate ...

Domain: Economy; Category: Economics

A modification of the standard aggregate supply curve used in the aggregate market (or AD-AD) analysis to reflect the basic assumptions of Keynesian economics. The Keynesian aggregate supply curve ...

Domain: Economy; Category: Economics

A feature of the federal government's budget that tends to reduce the ups and downs of the business cycle without the need for any special legislative action, that is stabilization policies. The two ...

Domain: Economy; Category: Economics

A theory speculating that, since poorer economies tend to grow more rapidly than wealthier economies, all economies in time will converge in terms of per capita income. In other words, the poorer ...

Domain: Economy; Category: Economics

A Latin term meaning that all other factors are held unchanged. The ceteris paribus assumption is used to isolate the effect one economic factor has on another. Without this assumption, it would be ...

Domain: Economy; Category: Economics

The continuous movement of production, income, and resources between producers and consumers. This flow moves through product markets as the gross domestic product of our economy and is then the ...

Domain: Economy; Category: Economics

A market with a large number of buyers and a large number of sellers, such that no single buyer or seller is able to influence the price or any other aspect of the market -- no one has any market ...

Domain: Economy; Category: Economics

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