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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Collected Terms

Rational expectations is a hypothesis in economics which states that agents' predictions of the future value of economically relevant variables are not systematically wrong in that all errors are ...

Domain: Economy; Category: Economics

A curve that illustrates the production possibilities for the economy. A production possibilities curve (or PPC), like the one presented here, represents the boundary or frontier of the economy's ...

Domain: Economy; Category: Economics

The graphical depiction of the relation between net exports and national income (or gross domestic product) that plays a role in Keynesian economics and the Keynesian cross. The net exports line is ...

Domain: Economy; Category: Economics

A company that pools the funds of hundreds or thousands of individuals to purchase corporate stocks, bonds, or other financial assets. The objectives of pooling funds is to reduce transactions costs ...

Domain: Economy; Category: Economics

In economics, the loanable funds market is a hypothetical market that brings savers and borrowers together, also bringing together the money available in commercial banks and lending institutions ...

Domain: Economy; Category: Economics

An economy in which markets answer all allocation decisions and answers all three questions of allocation. There is no government. Markets do it all. This is a theoretical ideal or extreme that does ...

Domain: Economy; Category: Economics

Unemployment attributable to the time required to match production activities with qualified resources. Frictional unemployment essentially occurs because resources, especially labor, are in the ...

Domain: Economy; Category: Economics

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