Course glossary

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.

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C

Consumption function

A linear relationship showing how increases in disposable income cause increases in consumption.

Contraction

The period where real gdp is falling.

Contractionary fiscal policy

Decreases in government spending or higher net taxes meant to shift the aggregate expenditure function downward and shift ad to the left.

Contractionary monetary policy

Designed to avoid inflation by decreasing ad, which lowers the pl and gdpr.

Crowding out effect

When the government borrows funds to cover a deficit, the interest rate increases and households and firms are pushed out of the market for loanable funds.

Current account

This account shows current import and export payments of both goods and services and investment income sent to foreign investors of u.s. and investment income received by u.s. citizens who invest abroad.

D

Debt financing

A firm’s way of raising investment funds by issuing bonds to the public.

Decision to invest

A firm invests in projects so long as the real expected real rate of return is greater than the i.

Deflation

A sustained falling pl, usually due to weakened ad and a constant as.

Demand curve

A graphical depiction of the d schedule.