Lernkarten

Marco Wernli
Karten 42 Karten
Lernende 0 Lernende
Sprache English
Stufe Universität
Erstellt / Aktualisiert 04.10.2020 / 04.10.2020
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0 Exakte Antworten 39 Text Antworten 3 Multiple Choice Antworten
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Explain the term shoe-leather costs

Increased costs of transactions caused by inflation are known as shoe-leather costs, an allusion to the wear and tear caused by the extra running around that takes place when people are trying to avoid holding money.

However, compared to other inflation caused cost-factors, the shoe-leather costs are quite small.

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Explain the term Menu Cost

In a modern economy, most of the things we buy have a listed price. Changing a listed price has a real cost, called a menu cost.

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Explain the term unit-of-account costs

The unit-of-account costs of inflation are the costs arising from the way inflation makes money a less reliable unit of measurement.

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Explain the terms nominal interest rate and real interest rate.

The nominal interest rate is the interest rate in dollar terms – for example, the interest rate on a student loan. The real interest rate is the nominal interest rate minus the rate of inflation.

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Explain the term disinflation

The process of bringing the  inflation rate down is called disinflation. This process is very costly!

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Calculate the number of workers employed in each of the regions in July 2015 and July 016. use your answer to calculate the change in the total number of workers employed between July 2015 and July 2016.

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