Econ Cheat Sheet

In a market-oriented economy, the amount of a good that is produced is primarily decided by the interaction of: buyers and sellers.–In countries like _____________ the command economy predominates.Cuba and North Korea–Which of the following best denotes the reason for the existence of substantial black markets?a command economy–If macroeconomics looks at the economy as a whole, it focuses on which of the following?unemployed people–In the circuar flow model diagram,Businesses buy resources from

Read More

Public Policy Exam

2) Discuss the concept of incentives (positive or negative) in the area of Public Policy

Public Policy involves encouraging some kinds of activities such as work, education, savings and etc. At the same time it tries to discourage other types of activities, such as crime, substance abuse, pollution and etc. With that being said, there are positive and negative incentives in the Public Policy. The book says that one of the most powerful tools for changing behavior is changing the incentives. Positive

Read More


MY ROAD TRIP I still remember how excited I would get when my parents told me we were going to Disneyland. One time in particular, when I was about six years old, my parents told me we were leaving for Disneyland the next day. I was really excited to go and ride the rides.///The next day we started packing our bags for the trip. We all scrambled to get everything we needed for the plane ride and for the trip. We arrived at the airport then went through security and got on the plane. When we arrived

Read More



1. increases the credibility in a bank 2)mkes sure the bank has funds bf it starts collecting deposits,3)works as absorber against risks and losses in a business4) K means + growth so capital is a source of growth of a bank5)for regulator it can be a way to control the growth of a bank


Capital (Net Worth = A – L)

Total Equity Capital is the sum of: 1) Surplus 2)Undivided profits and capital reserves 3)Preferred stock 4)Common stock

Read More


BOP – Records economic transactions between residents of one country with all other countries. Current account – related to income and payment flows. a) Trade in goods (X-M) X – credit M – debit. b) Trade in services (X-M). c) Income from investment. d)Current transfer (no exchange of goods and services). Current account surplus (abcd>0):

Inflow of money from exports revenue from trade in goods and services; income from investment and incoming transfer is larger than outflow of money from import

Read More


+Mannerism style is the art and architecture of the 16th century, characterized by the distortion of elements such as proportion and space. Mannerism acts as a bridge between the idealized style of Renaissance art and the dramatic theatricality of the Baroque Architecture -Mannerist architecture was characterized by visual trickery and unexpected elements that challenged the renaissance norms.Sculpture-Mannerist sculpture was more expressive than its Renaissance predecessor, and is exemplified by Read More