Macro-Economics Chapter 25 & 26
economics, principles of economics, fourth edition. Au: Gregory Mankiw ISBN-13: 978-0-324-55849-x
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| 9319326 | catch-up effect | the property whereby countries that start off poor tend to grow more rapidly than countries that start off rich | |
| 9319327 | diminishing returns | the property whereby the benefit from an extra unit declines as the quantity of the input increases | |
| 9319328 | human capital | the knowledge and skills that workers acquire through education, training, and experience | |
| 9319329 | natural resources | the input into the production of goods and services that are provided by nature, such as land, rivers, and mineral deposits | |
| 9319330 | physical capital | the stock of equipment and structures that are used to produce goods and services | |
| 9319331 | productivity | the quantity of goods and services produced from each unit of labor input | |
| 9319332 | technological knowledge | society's understanding of the best ways to produce good and services | |
| 9319333 | bond | a certificate of indebtedness | |
| 9319334 | budget deficit | a shortfall of tax revenue from government spending | |
| 9319335 | crowding out | a decrease in investment that results from government borrowing | |
| 9319336 | financial intermediaries | financial institutions through which savers can indirectly provide funds to borrowers | |
| 9319337 | financial markets | financial institutions through which savers can directly provide funds to borrowers | |
| 9319338 | financial system | the group of institutions in the economy that help to match one person's saving with another person's investment | |
| 9319339 | market for loanable funds | the market in which those who want to save supply funds and those who want to borrow to invest demand funds | |
| 9319340 | mutual fund | an institution that sells shares to the public and uses the proceeds to buy a portfolio of stocks and bonds | |
| 9319341 | national saving (saving) | the total income in the economy that remains after paying for consumption and government purchases | |
| 9319342 | private saving | the income that households have left after paying for taxes and consumption | |
| 9319343 | stock | a claim to partial ownership in a firm |