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18 Cards in this Set
- Front
- Back
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The study or economics has identified a host of objective measures that help systematize evaluation. |
INTERNATIONAL ECONOMIC ANALYSIS |
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Economic freedom is the absolute right of property ownership, fully realized freedoms of movement for labor, capital, and goods, and an absolute absence of coercion or constraint of economic liberty beyond the extent necessary for citizens to protect and maintain liberty itself. |
ECONOMIC FREEDOM |
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Types of Economic |
Command Mixed Market |
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GNI is the broadest measure of a country’s economy. It measure the value of all production in the domestic economy together with the income that the country receives from other countries (mainly interest and dividends), less similar payments it has made to other countries. |
GROSS NATIONAL INCOME |
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GNP is the value of all final goods and services produced within a nation in a given year, plus the income earned by its citizens abroad, minus the income earned by foreigners from domestic production. |
GROSS NATIONAL PRODUCT |
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The total market value of all output produced within a nation’s borders, no matter whether generated by a domestic or foreign-owned company, is reported as a nation’s GDP. |
GROSS DOMESTIC PRODUCT |
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holds that each country is a component of, and dependent on, the natural world. |
Green Economics |
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calls for moving from the concept of financial prosperity to the idea of emotional prosperity. An ongoing paradox is that people in rich countries are not significantly happier that people in poor countries. |
Happynomics |
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The sustained rise in prices measured against a standard level of purchasing power. |
Inflation |
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the opposite of inflation- prices for products go down, not up. It occurs when the annual inflation rate of less than zero. |
Deflation |
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increasing the money supply and reducing taxes to accelerate economic activity– to combat deflation |
Reflation |
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is the share of stock of out-of-work citizens seeking employment for pay relative to the total civilian labor force. |
Unemployment rate |
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the sum of a country’s inflation and unemployment rates. |
Misery Index |
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the total of a government’s financial obligations, measures what the state borrows from its citizens, foreign organizations, foreign governments, and international institutions. |
Debt |
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Portion of the government debt that is denominated in the country’s own currency and held by domestic residents. |
Internal Debt |
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Debt owned to foreign creditors and denominated in foreign currency |
External Debt |
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estimates the proportion of the population that earns various levels of income. |
Income Distribution |
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officiallyknown as the Statement of InternationalTransactions, reports its trade and financialtransactions (as conducted by individuals,businesses, and government agencies) with therest of the world. |
Balance Of Payment |
