Describe each of the following terms/concepts (150 words each)
1-Resources
2-Scarcity
3-Aggregate demand
4-Aggregate supply curve
5-Developing countries
6-Industrial market countries
7-Consumer price index or CPI
8-Disposable income (DI)
9-Underemployment
10-Unemployment benefits
11-Inflation
12-Deflation
13-Contractionary fiscal policy
14-Discretionary fiscal policy
15-Federal Reserve System
16-Money market mutual fund
17-Balance sheet
18-Federal funds rate
19-International Monetary Fund (IMF)
20-Exchange rate