# Study sets matching "cfa econ"

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Price Elasticity of Demand Formula

Cross Elasticity of Demand Formula

Income Elasticity of Demand Formula

Price Elasticity of Supply Formula

(% Change in Quantity Demanded) / (%t Change in Price)

(% Change in Quantity Demanded) / (% Change in Price of Substi…

(% Change in Quantity Demanded) / (% Change in Income)

(% Change in Quantity Supplied) / (% Change in Price)

Price Elasticity of Demand Formula

(% Change in Quantity Demanded) / (%t Change in Price)

Cross Elasticity of Demand Formula

(% Change in Quantity Demanded) / (% Change in Price of Substi…

Own Price Elasticity

Elastic

Inelastic

Straight Line Demand Curve

If absolute value of the above >1, demand is ____

If absolute value of above is <1, demand is ____

On ____ _____ _____ _____,total revenue is maximized where pri…

Own Price Elasticity

Elastic

If absolute value of the above >1, demand is ____

own price elasticity of demand

Income elasticity of demand

Cross price elasticity of demand

MR

%change Qdx/%change Px... (changeQdx/changePx)*(px/Qdx)

%changeQdx/%changeI

Edy=%changeQdx/%changePy

Change in total rev/change in quant... P[1- (1/e)]

own price elasticity of demand

%change Qdx/%change Px... (changeQdx/changePx)*(px/Qdx)

Income elasticity of demand

%changeQdx/%changeI

Price Elasticity of Demand Formula

Cross Elasticity of Demand Formula

Income Elasticity of Demand Formula

Price Elasticity of Supply Formula

(% Change in Quantity Demanded) / (%t Change in Price)

(% Change in Quantity Demanded) / (% Change in Price of Substi…

(% Change in Quantity Demanded) / (% Change in Income)

(% Change in Quantity Supplied) / (% Change in Price)

Price Elasticity of Demand Formula

(% Change in Quantity Demanded) / (%t Change in Price)

Cross Elasticity of Demand Formula

(% Change in Quantity Demanded) / (% Change in Price of Substi…

own-price elasticity of demand

inelastic

elastic

greater

The percentage change in quantity demanded for a percentage ch…

when there are few or no good substitues for a good, demand te…

the larger the proportion of income spent on a good, the more…

elasticity of demand tends to be (greater or less) the longer…

own-price elasticity of demand

The percentage change in quantity demanded for a percentage ch…

inelastic

when there are few or no good substitues for a good, demand te…

1st Degree Price Discrimination

2nd Degree Price Discrimination

3rd Degree Price Discrimination

Real GDP (Equation)

Consumer surplus falls to zero while allowing the producers to…

Involves using the quantity purchased as the basis for the pri…

involves segregating customers by demographics or other traits

Nominal GDP * (100/GDP Deflator)

1st Degree Price Discrimination

Consumer surplus falls to zero while allowing the producers to…

2nd Degree Price Discrimination

Involves using the quantity purchased as the basis for the pri…

Own Price Elasticity

Elastic

Inelastic

Straight Line Demand Curve

If absolute value of the above >1, demand is ____

If absolute value of above is <1, demand is ____

On ____ _____ _____ _____,total revenue is maximized where pri…

Own Price Elasticity

Elastic

If absolute value of the above >1, demand is ____

Marginal product is at a maximum when...

Sources of sustainable long-run economi…

Price ceiling will most likely cause:

Monopolistic Competition

marginal cost is at a minimum

labor force, human capital, stock of physical capital, supply…

market shortage; restrict the producer from increasing selling…

price is greater than marginal cost

Marginal product is at a maximum when...

marginal cost is at a minimum

Sources of sustainable long-run economi…

labor force, human capital, stock of physical capital, supply…

Own Price Elasticity

Elastic

Inelastic

Straight Line Demand Curve

If absolute value of the above >1, demand is ____

If absolute value of above is <1, demand is ____

On ____ _____ _____ _____,total revenue is maximized where pri…

Own Price Elasticity

Elastic

If absolute value of the above >1, demand is ____

Own Price Elasticity

Elastic

Inelastic

Straight Line Demand Curve

If absolute value of the above >1, demand is ____. On graph pe…

If absolute value of above is <1, demand is ____. on graph per…

On ____ _____ _____ _____,total revenue is maximized where pri…

Own Price Elasticity

Elastic

If absolute value of the above >1, demand is ____. On graph pe…

One Third Rule

Classical Growth Theory

Neo-Classical Growth Theory

New Growth Theory

- At given technology level, 1% increase in capital/labor hour…

- Real GDP growth temporary (RGDP/person increase above subsis…

- No technological change -> no RGDP growth.... - Technology chan…

- Economic growth continues indefinitely as technology advance…

One Third Rule

- At given technology level, 1% increase in capital/labor hour…

Classical Growth Theory

- Real GDP growth temporary (RGDP/person increase above subsis…

Types of markets

Demand

Supply

Aggregating supply and demand functions

Factor markets = markets for factors of production (land, labo…

The willingness and ability of consumers to purchase a given a…

Refers to the willingness and ability of producers to sell a g…

Individual supply and demand curves are aggregated into market…

Types of markets

Factor markets = markets for factors of production (land, labo…

Demand

The willingness and ability of consumers to purchase a given a…

GDP (Gross Domestic Product)

Economics

Mixed Economy

The type of economic system found in th…

The total value of goods and services produced by a country in…

The study of how countries and individuals use resources to pr…

A combination of Market and Command Economies

The United States has a Mixed Economy

GDP (Gross Domestic Product)

The total value of goods and services produced by a country in…

Economics

The study of how countries and individuals use resources to pr…

checking account

checkable deposits.

thrift institutions

debit card

account in which deposited funds can be withdrawn at any time…

funds deposited in a bank that can be withdrawn at any time by…

mutual savings banks and credit unions that offer many of the…

device used to make cashless purchases: money is electronicall…

checking account

account in which deposited funds can be withdrawn at any time…

checkable deposits.

funds deposited in a bank that can be withdrawn at any time by…

partial equilibrium analysis

Stable equilibrium

unstable equilibrium

bubble

analysis of the market for a single good.

Movement of the price away from its equilibrium level results…

Movement of the price away from its equilibrium level results…

unsustainable increase in price of an asset type resulting fro…

partial equilibrium analysis

analysis of the market for a single good.

Stable equilibrium

Movement of the price away from its equilibrium level results…

own-price elasticity of demand

inelastic

elastic

greater

The percentage change in quantity demanded for a percentage ch…

when there are few or no good substitues for a good, demand te…

the larger the proportion of income spent on a good, the more…

elasticity of demand tends to be (greater or less) the longer…

own-price elasticity of demand

The percentage change in quantity demanded for a percentage ch…

inelastic

when there are few or no good substitues for a good, demand te…

J-curve effect

World Bank

International Monetary Fund

Worth Trade Organization

following a currency depreciation, a country's balance of trad…

Promoting economic growth and reducing world poverty are among…

Promotes the growth of international trade, supports exchange…

Reaching trade agreements and settling trade disputes

J-curve effect

following a currency depreciation, a country's balance of trad…

World Bank

Promoting economic growth and reducing world poverty are among…

Own Price Elasticity

Income Elasticity

Cross Price Elasticity of Demand

Cross Price Elasticity Equation

Responsiveness of quantity demanded to a change in the price.…

The ratio of % change in quantity demanded to a % change in in…

Ratio of the % change in the quantity demanded of a good to th…

...

Own Price Elasticity

Responsiveness of quantity demanded to a change in the price.…

Income Elasticity

The ratio of % change in quantity demanded to a % change in in…

Frictional unemployment

Unit labor costs

Structural unemployment

Cyclical unemployment

Time lag to match employees looking for work with employers se…

The ratio of total labour compensation per hour to out put per…

Eliminating some jobs while creating new jobs fro which unempl…

Negative during expansion. Positive during contraction

Frictional unemployment

Time lag to match employees looking for work with employers se…

Unit labor costs

The ratio of total labour compensation per hour to out put per…

Interest Rate

Discount

Nominal Risk-Free Interest Rate

Liquidity Premium

Rate of return that reflects relationship of cash at two diffe…

Reduction of value based on the date

Real risk-free interest rate + Inflation premium (A country's…

If the price can be easily changed by transactions, there is i…

Interest Rate

Rate of return that reflects relationship of cash at two diffe…

Discount

Reduction of value based on the date

Price Elasticity of Demand Formula

Cross Elasticity of Demand Formula

Income Elasticity of Demand Formula

Price Elasticity of Supply Formula

(% Change in Quantity Demanded) / (%t Change in Price)

(% Change in Quantity Demanded) / (% Change in Price of Substi…

(% Change in Quantity Demanded) / (% Change in Income)

(% Change in Quantity Supplied) / (% Change in Price)

Price Elasticity of Demand Formula

(% Change in Quantity Demanded) / (%t Change in Price)

Cross Elasticity of Demand Formula

(% Change in Quantity Demanded) / (% Change in Price of Substi…

network effect

cournot assumption

assumptions of a discriminating pricing…

stackelberg model

a phenomenon whereby a product or service gains additional val…

assumption in which each firm determines its profit-maximizing…

1. There are two groups of customers with different elasticiti…

A prominent model of strategic decision making in which firms…

network effect

a phenomenon whereby a product or service gains additional val…

cournot assumption

assumption in which each firm determines its profit-maximizing…

Spot exchange rate

forward exchange rate

Exchange rate settlement

USD/EUR: which is the price currency

is the currency exchange rate for immediate delivery

a currency exchange rate for an exchange to be done in the fut…

T+2

USD

Spot exchange rate

is the currency exchange rate for immediate delivery

forward exchange rate

a currency exchange rate for an exchange to be done in the fut…

1.Which of the following markets is lea…

2.Which of the following markets is mos…

Which of the following markets is most…

The observation "as a price of a good f…

C

C

A is correct. Coats are finished goods, the result of the outp…

B. law of demand

1.Which of the following markets is lea…

C

2.Which of the following markets is mos…

C