Keynesianism and Monetarism
Important Vocabulary
- Supply: The willingness and ability to offer goods or services for sale
- Demand: The willingness and ability of consumers to purchase goods and services
- Market forces: Supply and demand
- Equilibrium: A state of balance, for example when supply meets demand
- Fiscal policy: Government measures concerning taxation, public expenditure, and so on
- Monetary supply: Government or central bank measures concerning the rate of growth of the money supply (the amount of money in circulation)
Matching up the Words Into Pairs That Mean the Same
- flexible - variable
- error - mistake
- companies - firms
- costs - expenses
- excess - surplus
- output - production
- expenditure - spending
- boost - stimulate
- increase - raise
- lower - reduce
Matching up the Words Into Pairs of Opposites
- contraction - growth
- boom - depression
- flexible - rigid
- buoyant - sluggish
- cut - stimulate
- deflate - increase
- demand - supply
- consuming - saving
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More Important Vocabularies!
Extracted From:
MacKenzie, I. (2002). English for Business Studies: A course for Business Studies and Economics students (Second). Cambridge University Press.
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