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exam 2

by: shal
Roger Wehr

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Roger Wehr
Study Guide
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This 4 page Study Guide was uploaded by shal on Friday October 30, 2015. The Study Guide belongs to ECON 2305 - 005 at University of Texas at Arlington taught by Roger Wehr in Fall 2015. Since its upload, it has received 138 views. For similar materials see PRINCIPLES OF MACROECONOMICS in Economcs at University of Texas at Arlington.


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Date Created: 10/30/15
Econ 2305 100115 Chap ii Recap three main variables amp continue UNEMPLOYMENT iii Halloween Economics EMPLOYMENT Unemployment rate UL U EU L EU Suppose Roger land has a population of 100 million ppl 72 million ppl have jobs and 19million ppl r unemployment What is the unemployment rate 1991208791 721991 LABOR FORCE persons aged 16 to 65 Noninstitutionalized Actively seeking employment if not work working CiVilian labor force BLS bill labeled of statistics Discouraged Worker someone who has just given up Underemployed u have a phd in physics but r working at burger king Types of unemployment Frictional Job losses to job switching Structural Job losses due to changes in the composition of the economy Technology Cyclical Job losses due to changes in the business cycle Seasonal Natural rate of unemployment UAn Frictional Structural Full employment 0 employment Cross thro 0 and 0 cyclical unemployment cross of 0 Contraction depression Recession Recap Previous lecture and continue A Classical vs Keynesian views B MATH PROBLEM C Consumption 1 Autonomous consumption MPC APC 2 3 Keynesian conjectures 3 Deriving a savings function 4 Solving for Y D Investment 1 Fixed level and 2 Types of investment 3 Solving for Y 4 Multiplies ii cont E Government spending 1 solving for Y and change Y 2 Govt spending multipler F Taxes 1 Solving for Y and change Y 2 Tax Multiplier G Effects of Fiscal Policy H Net Experts note leakages injections iii Good Market Suppose C 150 6yquotd I 200 G325 NX 150 XM gives u neg 150 Assume a budget surplus of 125 Solve for Y using any method C 150 6YT T450 on paper X0 M150 Suppose G 325 If balanced budget then T 325 If Budget Deficit of 100 then T 225 If budget surplus of 100 then T 425 SO S Iu S Iu G S XIuG STMXIuG 101315 1504YT 450 150 0200325 rest is on paper S15504YT C 1506YT Suppose C 200 9Y I 300 YAE 450 degree line AE 2009Y300 1Y 5009Y 1Y9Y500 1Y 500 Y5000 2001Y300 1Y500 Y5000 The multiplier on paper 3 maior tvDes of investment all deal With Ifrr stands for interested rates Business Fixed investment Residential investment Inventory investment 101514 A Fiscal Policy and Multipliers B Solving for Y C Net exports and leakages injections iv Income Approach to GDP 5 formulae v Relating Keynesian cross diagram to goods market graph Expenditures approach spent Income approach Earned A GDP Depreciation Indirect business taxes Rent Wages Interest Profit B GDP Depreciation Indirect taxes Rent Wages Interest Profit GDP Depreciation NDP Net domestic product Indirect taxes Rent Wages Interest Profit net domestic product Land Labor capital Entreprenership C NDP Indirect business taxes Rent Wages Interest Profit National income D Personal Income national income Govt transfer Social security contributors Undistributed corporate profit E Disposable Income YT 102015 i Begin good market ii Olympics game


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