Course glossary

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During lectures you will learn new words. Using this link you are welcome to add them to our "course glossary", so that other students will be able to see them and learn. Let's make our own useful glossary and help each other to learn new words! By the way, there are already some worlds which should be familiar for you till the end of the course, try to cover them when you mill have free time.


Browse the glossary using this index

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T

Tax bracket

A range of income on which a given marginal tax rate is applied.

Technology

A nation’s knowledge of how to produce goods in the best possible way.

Theory of liquidity preference

Keynes’ theory that the i% adjusts to bring the money market into equilibrium.

Trade-offs

Scarce resources imply that individuals, firms, and governments are constantly faced with difficult choices that involve benefits and costs.

Transaction demand

The amount of money held in order to make transactions. This is not related to the interest rate, but increases as nominal GDP increases.

Trough

The bottom of the business cycle where a contraction has stopped.