Economics

This badge demonstrates the earner's ability to describe how real GDP interacts with expenditure plans and equilibrium expenditure, explain the expenditure multiplier, and derive the AD curve from equilibrium expenditure.

This badge demonstrates the earner's ability to define and explain influences on aggregate supply and demand and describe how trends and fluctuations in each impact economic growth, inflation, and business cycles.

This badge demonstrates the earner's ability to describe the functions of banks.

This badge demonstrates the earner's ability to calculate and graph a budget line that shows the limits to a person's consumption possibilities, and explain marginal utility theory and use it to derive a consumer's demand curve.

This badge demonstrates the earner's ability to define and differentiate between microeconomics and macroeconomics and the questions each tries to answer.

This badge demonstrates the earner's ability to explain the law of demand, a demand schedule and a demand curve and describe how different factors affect demand.

This badge demonstrates the earner's ability to define and calculate the economic growth rate and explain triggers and implications of sustained growth.

This badge demonstrates the earner's ability to explain how economic inequality arises, how governments redistribute income, and describe the effects of redistribution.

This badge demonstrates the earner's ability to discuss issues related to efficient resource allocation, consumer surplus, producer surplus, and fairness in allocating resources.

This badge demonstrates the earner's ability to define the price elasticity of demand and of supply, the cross elasticity and the income elasticity of demand, calculate price elasticity, and explain the factors that influence these relationships.

This badge demonstrates the earner's ability to describe the functions of the Federal Reserve System.

This badge demonstrates the earner's ability to explain the processes, techniques and limitations of using fiscal policy to fight recession and manage economic growth.

This badge demonstrates the earner's ability to define real and nominal GDP, explain how they are measured, and describe their uses and challenges as measures.

This badge demonstrates the earner's ability to explain the impact of incentives on economic decision-making.

This badge demonstrates the earner's ability to describe factors that impact a country's international borrowing and lending, as well as factors that influence exchange rate fluctuations.

This badge demonstrates the earner's ability to explain the effects of international trade barriers, and evaluate arguments used to justify restricting international trade.

This badge demonstrates the earner's ability to identify labor market indicators, describe measures of employment and influences on their validity and fluctuations, and explain the link between unemployment and GDP.

This badge demonstrates the earner's ability to derive and explain a firm's long-run average cost curve.

This badge demonstrates the earner's ability to explain the concepts of marginal cost and marginal benefit and how people use them to make economic decisions.

This badge demonstrates the earner's ability to define the law of market forces and describe how different factors affect equilibrium price and quantity.