Macroeconomics

‭Currency‬ ‭appreciation:‬ ‭An‬ ‭increase‬ ‭in‬ ‭the‬ ‭value of a currency relative to another.‬ ‭Currency‬ ‭debasement:‬ ‭A‬ ‭loss‬ ‭in‬ ‭the‬ ‭value‬ ‭of‬ ‭money‬ ‭or‬ ‭currency‬ ‭because‬ ‭too‬ ‭much‬ ‭is‬ ‭being‬ ‭circulated in the economy.‬ ‭Currency‬‭depreciation:‬ ‭A‬‭decrease‬‭in‬‭the‬‭value‬ ‭of a currency relative to another.‬ ‭Current‬ ‭account‬ ‭(CA):‬ ‭An‬ ‭account‬ ‭on‬ ‭the‬ ‭balance‬ ‭of‬ ‭payments‬ ‭that‬‭records‬‭international‬ ‭transactions‬ ‭that‬ ‭do‬ ‭not‬ ‭create‬ ‭a‬ ‭liability‬ ‭for‬ ‭a‬ ‭country,‬‭including‬‭net‬‭exports,‬‭net‬‭income‬‭from‬ ‭abroad, and net unilateral transfers.‬ ‭Current‬‭account‬‭defcit:‬ ‭When‬‭total‬‭imports‬‭on‬ ‭the current account exceed total exports.‬ ‭Current‬ ‭account‬ ‭surplus:‬ ‭When‬ ‭total‬ ‭exports‬ ‭on the current account exceed total imports.‬ ‭Cyclical‬ ‭unemployment:‬ ‭Unemployment‬ ‭caused by low levels of aggregate demand.‬ ‭Demand:‬ ‭The‬ ‭willingness‬ ‭and‬ ‭ability‬ ‭to‬ ‭buy‬ ‭a‬ ‭good or service.‬ ‭Demand‬ ‭curve:‬ ‭A‬ ‭line‬ ‭that‬ ‭represents‬ ‭the‬ ‭negative‬ ‭relationship‬ ‭between‬ ‭the‬ ‭price‬ ‭of‬ ‭a‬ ‭product and its quantity demanded.‬ ‭Demand‬ ‭for‬ ‭money:‬ ‭The‬ ‭negative‬ ‭relationship‬ ‭between‬ ‭the‬ ‭quantity‬ ‭demanded‬‭of‬‭money‬‭and‬ ‭the interest rate in the money market.‬ ‭Demand-pull‬ ‭inflation:‬ ‭Inflation‬ ‭caused‬ ‭by‬ ‭a‬ ‭signifcant‬ ‭increase‬ ‭in‬ ‭aggregate‬ ‭demand‬ ‭not‬ ‭matched‬‭by‬‭an‬‭equivalent‬‭increase‬‭in‬‭aggregate‬ ‭supply.‬ ‭Demand‬‭schedule:‬ ‭A‬‭table‬‭that‬‭shows‬‭the‬‭data‬ ‭from‬‭which‬‭a‬‭demand‬‭curve‬‭is‬‭drawn,‬‭including‬ ‭price and quantity demanded.‬ ‭Demand‬ ‭shocks:‬ ‭Signifcant‬ ‭unexpected‬ ‭increases or decreases in aggregate demand.‬

‭Demand-side‬ ‭policy:‬ ‭An‬ ‭economic‬ ‭policy‬ ‭that‬ ‭changes‬ ‭macroeconomic‬ ‭variables‬ ‭by‬ ‭targeting‬ ‭aggregate demand.‬ ‭Depreciation:‬ ‭The‬ ‭value‬ ‭of‬ ‭capital‬ ‭goods‬ ‭that‬ ‭have worn out or become out of date over time.‬ ‭Depression:‬ ‭A‬ ‭severe‬ ‭economic‬ ‭recession‬‭that‬ ‭lasts for several years.‬ ‭Determinants‬ ‭of‬ ‭demand:‬ ‭Factors,‬ ‭excluding‬ ‭the‬ ‭price‬‭of‬‭the‬‭product,‬‭that‬‭affect‬‭its‬‭demand‬ ‭and‬ ‭cause‬ ‭a‬ ‭shift‬ ‭in‬ ‭its‬‭curve,‬‭such‬‭as‬‭incomes‬ ‭and prices of related goods and services.‬ ‭Determinants‬‭of‬‭supply:‬ ‭Factors,‬‭excluding‬‭the‬ ‭price‬ ‭of‬ ‭the‬ ‭product,‬ ‭that‬ ‭affect‬ ‭its‬ ‭supply‬ ‭and‬ ‭cause‬ ‭a‬ ‭shift‬ ‭in‬ ‭its‬ ‭curve,‬ ‭such‬ ‭as‬ ‭costs‬ ‭of‬ ‭production and expectations.‬ ‭Discount‬ ‭rate:‬ ‭The‬ ‭rate‬ ‭that‬ ‭the‬ ‭central‬ ‭bank‬ ‭sets‬‭on‬‭the‬‭loans‬‭it‬‭makes‬‭to‬‭commercial‬‭banks.‬ ‭It is sometimes used as a monetary policy tool.‬ ‭Economics:‬ ‭A‬ ‭social‬ ‭science‬ ‭that‬ ‭studies‬ ‭how‬ ‭individuals‬ ‭and‬ ‭societies‬ ‭choose‬ ‭to‬ ‭use‬ ‭scarce‬ ‭resources to meet needs and unlimited wants.‬ ‭Economic‬ ‭growth:‬ ‭A‬‭sustained‬‭increase‬‭in‬‭real‬ ‭GDP per capita over time.‬ ‭Economic‬‭growth‬‭rate:‬ ‭The‬‭percentage‬‭change‬ ‭in‬ ‭the‬ ‭real‬ ‭GDP‬ ‭per‬ ‭capita‬ ‭between‬ ‭two‬ ‭consecutive years.‬ ‭Economic‬ ‭system/structure:‬ ‭The‬ ‭way‬ ‭production‬‭is‬‭organized‬‭and‬‭choices‬‭are‬‭made‬‭in‬ ‭an economy.‬ ‭Economy:‬ ‭The‬‭system‬‭through‬‭which‬‭goods‬‭and‬ ‭services‬ ‭are‬ ‭produced,‬ ‭distributed/exchanged,‬ ‭and consumed within a society.‬ ‭Eligible‬ ‭population:‬ ‭The‬ ‭total‬ ‭population‬ ‭including‬ ‭those‬ ‭who‬ ‭are‬‭in‬‭and‬‭out‬‭of‬‭the‬‭labor‬ ‭force.‬

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