Principles Of Macroeconomics
Principles Of Macroeconomics ECON 2020
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This 1 page Study Guide was uploaded by Jada Mayer on Wednesday September 30, 2015. The Study Guide belongs to ECON 2020 at Western Michigan University taught by Edward Vanwesep in Fall. Since its upload, it has received 22 views. For similar materials see /class/216940/econ-2020-western-michigan-university in Economcs at Western Michigan University.
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Date Created: 09/30/15
OC per unitARA what is given in equation LABLE GRAPH ABCDE EDCBA remember if one variable does not change you would be dev by 0 so the answer would be 0 Law of OC As production ofa good increases the OC also increases Efficientl All res are bein used CPI Present CPI Past Value X Price of the astad39 for in ation Output 1987 1988 Price 1987 1988 Calculate 1988 nominal GDP 1988 output of Wheat 9000 10000 Wheat 90 100 A1988 Price ofA 1988 output of B1988 Milk 22000 20000 Milk 210 250 priceofBl10000Wl501000ml60000 Real GDP Nominal GDP for 1st yr 1988 Real GDPYr 2 output ofW yr 1 price ofWyr1 output of Myr2 price of M Keynes theory know both P and real GDP to find Aggregate demand Q DemQ Supplied Condition Stag ation is caused by a downward shift of the aggregate demand US EXp 1974 to 1975 Real GDPReal Gov Spending Consumer Price IndeXwhat the price rose byavg price base yr2016 EX Simple Economy C100bil9Y Des 1200 bi1 full employ IncomeYF4000 billion What is the undesired change in inventories S14000100300 300200100bil How much of an increase in autonomous desired spending would there have to be to achieve YEYF 100 bil Suppose the AD and AS cures cross at a point to the right of full emp real GDP if Fed did nothing AS curve would shift u I 39 U until rec the fed reserve has been raisin the IR bc it wanted to Shift the AD curve to the left iquot
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