Princp of Macroeconomics
Princp of Macroeconomics ECON 201B
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This 1 page Class Notes was uploaded by Dalton Kautzer on Friday October 23, 2015. The Class Notes belongs to ECON 201B at University of Mary Washington taught by Staff in Fall. Since its upload, it has received 47 views. For similar materials see /class/228393/econ-201b-university-of-mary-washington in Economcs at University of Mary Washington.
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Date Created: 10/23/15
ECON201 Final Exam Study Guide PART III ShortRun Economic Performance Chapter 10 Unemployment Definition of discouraged workers Definition of frictional unemployment Reasons for structural unemployment What happens to the unemployment rate during recessions The definition of the natural rate of unemployment Composition of unemployment ie the types of unemployed that are counted in the unemployment rate Chapter 11 Inflation and QTM 7 Definition of inflation 8 Ingredients of the quantity theory of money MVPY 9 Quantity theory of money definition In the longrun money is What are the costs of inflation Money illusion definition The consequences of money illusion for real GDP Definition of debt monetization Definition of the velocity of money Chapter 12 Dynamic ADAS Model The practice sheet I sent out earlier is useful here Definition of business fluctuations Be able to indentify the 3 curves of the dynamic ADAS model Definition of the Solow Growth rate Curve that the Real Business Cycle Theory ADAS model lacks but New Keynesian ADAS model has The two primary reasons the AD curve will shift Study Fig 1212 in your textbook p 255 22 m v Tl y know this equation T P PWNH r r r r r r U39ewzweo NNi I i H HQLDEX NSJ PART IV Macroeconomic Policy Chapter 14 Federal Reserve System 23 Definition of the monetary base see Fig 142 p293 24 Definition of M1 see Fig 142 p 293 25 Three primary tools the Fed has to change the money supply 26 Federal Funds rate definition 27 Systemic risk definition 28 An increase in the money supply growth rate will cause what to happen to AD 29 Federal Reserve was responsible for the Great Depression and the high inflation of the 1970s Chapter 15 Monetary Policy Two reasons why monetary policy is difficult 31 Disinflation definition 3 Credibility definition 3 What must a central bank do to bring inflation rates down Chapter 16 The Federal Budget 34 Marginal tax rates Chapter 17 Fiscal Policy 35 The two primary tools of fiscal policy 36 Definition of crowding out UJ 0 UJN