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9 Cards in this Set
- Front
- Back
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Limits of Capitalism
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1. Collective goods
2. Suboptimal market 3. Redistribution of wealth 4. Information asymmetry 5. Transaction costs 6. Externalities |
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Tools the state has to control the market
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1. Determination of property rights
2. Provision of services 3. Taxes 4. Regulation 5. Subsidies |
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Mortgage Backed Security
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An asset-backed security that represents a claim on the cash flows from mortgage loans through a process known as securitization.
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Consumer price Index (CPI)
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Created by the Bureau of Labor Statistics, measures changes in prices of goods & services (inflation).
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Purposes of CPI
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1. Measures inflation for poverty & tax rates
2. To adjust payments in income from govt 3. Economic deflation for real economic differences |
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Major unresolved economic issues
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1. Health care
2. Pension policy 3. Retraining work force 4. Dependence on oil |
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Provision of services possible parties
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1. Direct provision by government agencies
2. Provision by intergovernmental (by local or state government) 3. Contracting services |
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Keynsian economics
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Believes in counter cyclical funding. Economy is not self-regulating but goes through cycles. During recessions, state must provide funding to stabilize the economy.
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MBS price & yield
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PRICE always refers to the cost of buying $100 of that particular bond.
Yield (also coupon) is the rate of return paid on that bond over time |
