Macroeconomics - CH21 Macroeconomics: The Big Picture
Chapter 21 - Macroeconomics: The Big Picture
Chapter 21 - Macroeconomics: The Big Picture
Set of flashcards Details
| Flashcards | 48 |
|---|---|
| Language | English |
| Category | Macro-Economics |
| Level | University |
| Created / Updated | 03.10.2020 / 03.10.2020 |
| Licencing | Not defined |
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Explain the term paradox of thrift.
when families and businesses are worried about the possibility of economic hard times, they prepare by cutting their spending. This reduction in spending depresses the economy as consumers spend less and business react by laying off workers. As a result, families and businesses may end up worse off than if they hadn’t tried to act responsibly by cutting their spending.
The paradox of thrift is an attempt by households to increase their savings can cause a recession. But a higher level of savings plays a crucial role in encouraging long-run economic growth.
Should I go to business school or take a job right now?
What determines the salary Google offerts to Cherie Camajo, a new MBA?
What determines the cost to a university or college of offering a new course?
What government policies should be adopted to make it easier for low-income students to attend college?
What determines whether Citibank opens a new office in Shanghai?
How many people are meployed in the economy as a whole this year?
What determines the overall salary levels paid to workers in a given year?
