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Microeconomics final matching (glossary)
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Variables measured in physical units.
Real Variables
Variables measured in monetary units
Nominal Variables
An increase in orverall level of prices from the preceding period
Inflation
A firm that is the sole seller of a product without close substitutes
Monopoly
The theoretical separation of nominal and real variables
Classical Dichotomy
The revenue the government raises by creating money
Inflation tax
The additional shifts in aggregate demand that result when expansionary fiscal policy increases income and therby increases consumer spending.
Multiplier effect
Something that induces a person to act
Incentive
Author
fillup
ID
151902
Card Set
Microeconomics final matching (glossary)
Description
Microeconomics final matching glossary
Updated
2012-05-03T14:50:19Z
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