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ECO 101 test 3 Study Guide - liquidity inflationary gap...

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ECO 101 - Test 3 Study Guide Unit of account store of value medium of exchange standard of deferred payment Central bank Disposable Income Average Propensity to Consume Average Propensity to Save Marginal Propensity to Consume Marginal Propensity to Save M1 M2 Fiat money action time lags effect time lags recognition time lags Barter system market system adverse selection moral hazard asymmetric information budget surplus budget deficits
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Unformatted text preview: liquidity inflationary gap recessionary gap automatic stabilizer stocks flows monetary policy fiscal policy the Laffer curve Gross domestic product crowding out multiplier the consumption function savings function board of governors supply-side economics Federal Deposit Insurance Corporation net public debt saving savings marginal gold Social Security Autonomous consumption...
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