New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

study guide: test 3

by: Karmen Stephens

study guide: test 3 AGBU 2063 - 001

Karmen Stephens
Arkansas Tech University
GPA 2.5

Randell Renfro

Almost Ready


These notes were just uploaded, and will be ready to view shortly.

Purchase these notes here, or revisit this page.

Either way, we'll remind you when they're ready :)

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

this is a study guide for test 3 in macroeconomics
Randell Renfro
Study Guide
50 ?




Popular in

Popular in Agriculture and Forestry

This 4 page Study Guide was uploaded by Karmen Stephens on Tuesday February 23, 2016. The Study Guide belongs to AGBU 2063 - 001 at Arkansas Tech University taught by Randell Renfro in Winter 2016. Since its upload, it has received 22 views. For similar materials see in Agriculture and Forestry at Arkansas Tech University.

Similar to AGBU 2063 - 001 at Arkansas Tech University

Popular in Agriculture and Forestry


Reviews for study guide: test 3


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 02/23/16
Test 3 Study Guide Unemployment is divided into 4 segments of the US Population List the 4 segments of unemployment 1 unemployed don39t have a job 2 employed have jobs 3 labor force total number of unemployed and employed combined 4 not in the labor force disabled 16 or younger parttime workers etc De ne Underemployed a person who is overquali ed for the job they are working or wishing to work more hours List and De ne 3 KINDS of unemployment 1 Frictional due to movement of people 2 Structural number ofjob demands mismatch to workers needed 3 Cyclical demand for workers is low most serious List and De ne 2 TYPES of Unemployment 1 voluntary doesn39t have a job and doesn39t want one 2 involuntary worker39s desires to work but can39t nd any Who are considered underemployed Age 1619 Gender females Race minorities What are the 6 lmm of Unemployment 1 Loss of goods and services 2 Reduced tax base 3 Reduced consumer spending 4 Decline in GDP 5 Lower business investment 6 Lower private savings What are the 5 Impacts of Unemployment 1 Increased crime 2 increased depression 3 rise in alcohol 4 rise in drug abuse 5 family abuse Who is Arthur Okun Council of economic advisors What is his position chairman What does he do Advisor to the president Okun39s Law for every 2 GDP falls unemployment rises 1 De ne Transfer Payment when the government spends money and doesn39t get anything in return List and De ne the 4 Levels of In ation 1 Low in ation single digit numbers 2 Moderate double digit numbers 3 Galloping triple digit numbers 4 Hyperin ation anything higher than triple digit List and De ne 2 Types of In ation 1 Anticipated in ation that everyone knows is happening 2 unanticipated in ation that is unexpected List and de ne 2 lmpa of In ation 1 A redistribution of income and wealth 2 A distortion in relative price and outputs De c People often confuse the debt with the de cit You can remember the difference as follows Debt is like water in a bathtub while the de cit is water owing from the faucet into the bathtub The government debt is the total of the liabilities of the government stock The de cit is a ow of new debt incurred when the government spends more that it raises in taxes 3 Types of Budgets Actual Budget records the actual dollar expenditures revenues and de cits in a given period Structural Budget calculates what the government revenues expenditures and de cits would be if the economy were operating at a potential output Cyclical Budget difference between the structural and actual budget 2 Types of Debt Internal Debt debt owed by a government to its own citizens External Debt when a foreign country or foreign individuals


Buy Material

Are you sure you want to buy this material for

50 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."

Anthony Lee UC Santa Barbara

"I bought an awesome study guide, which helped me get an A in my Math 34B class this quarter!"

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"


"Their 'Elite Notetakers' are making over $1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.