Close
budget line
opportunity cost
axioms
marginal rate of substitution
mrs of b for a
substitution effect
income effect
the role of markets
exogenous variables in supply and demand
endogenous variables in supply and demand
production
production function
average physical product of labour
marginal physical product
total product curves
isocost
profit
avg revenue
if the avg cost is falling marginal cost is below it
economic efficiency
production possibility frontier
endowment point
the contact curve
pareto optimality
issues of pareto optimality
internal costs
external costs
injections to the circular flow of income
leakages to the circular flow of income
GDP
nominal GDP
real GDP
the GDP deflator
GNP
net national product
genuine progress indicator
says law
the business cycle
capacity
crowding in
fiscal policy
expansionary fiscal policy
commodity money
flat money
m0
m1
m2
m3
m4
demands
monetary policy
phillips curve
NAIRU
long run phillips curve
mark up
balance of payments on financial account
balance of payments on current account
net flow from private sectir
net flow for the government
net flow for overseas sector
if e < 1
if e > 1
investment
indicators of economic activity
