ECON 102 • Midterm • Introduction to Economics II

Main Concerns of Macroeconomics

Output Growth and Business Cycle

Circular Flow Model

What is GDP?

Measuring GDP - Prodution or Value-Added Method

Measuring GDP - Expenditure Method

Measuring GDP - Income Approach and other National Income Accounts

Nominal vs Real GDP

GDP Deflator

Economic Well Being (GDP Per Capita)

Question about GDP Calculation

Question about Expenditure Method

Question about Expenditure Method

Question about Expenditure Method

Question about GDP

Question About Real GDP, Nominal GDP and Deflator

Question About Real GDP, Nominal GDP and Deflator

Question About Real GDP, Nominal GDP and Deflator

Current Account

Financial and Capital Accounts

Example - Net Export

Example - Financial Account

Example - Balance on Current and Financial Accounts

Exam like Question - Preparing Balance of Payment

Unemployment - Definitions and Concepts

Example (Labor Force Participation Rate and Unemployment Rate Calculation)

Example (Labor Force Participation Rate and Unemployment Rate Calculation)

Types of Unemployment

Example (Types of Unemployment)

Problems with Measuring Unemployment

Question (Unemployment and Labor Force Participation Rate Calculation)

Question (Unemployment/Labor Force)

Question (Unemployment/Labor Force)

Question (Labor Market and Structural Unemployment)

Question (Calculation Unemployment Rate)

Inflation - Definitions and Concepts

Example (Definition of Inflation)

Measuring Inflation - CPI

Example (Calculating CPI)

Example (Measuring Inflation with CPI)

Example (Measuring Inflation with CPI)

Measuring Inflation - PPI

Problems with CPI

CPI vs GDP Deflator

Example (CPI vs Deflator)

Nominal vs Real Interest Rates

Example (Nominal Values and Real Values)

Costs of Inflation

Question (CPI vs GDP Deflator)

Question (CPI)

Question (Nominal vs Real Values)

Question (Nominal vs Real Interest)

Question (CPI vs GDP Deflator)

Production Function

Example (Diminishing Marginal Returns)

Economic Growth

Example (Economic Growth)

Example (Economic Growth)

Determinants of Long-Run Economic Growth

Example (Labor Productivity)

Example (Labor Productivity)

Policies for Promoting Economic Growth

Solow Growth Model

Question (Labor Productivity)

Question (Economic Growth)

Question (Economic Growth)

Question (Production Function)

Aggregate Expenditure

Consumption Function

Example (Consumption and Saving)

Investment

Example (Investment)

Government Purchases

Net Export

Planned Aggregate Expenditure and Equilibrium

Example (Aggregate Expenditure and Equilibrium)

Example (Aggregate Expenditure and Equilibrium)

Spending Multiplier and Tax Multiplier

Example (Multipliers)

Multipliers with Proportional Income Tax

Example (Multipliers with Proportional Income Tax)

Fiscal Policy in Aggregate Expenditure Model

Government Budget and Automatic Stabilizers

Example (Automatic Stabilizers)

Question (Consumption Function)

Question (Aggregate Expenditure)

Question (Disequilibrium and Change in Inventories)

Question (Spending Multiplier with Proportional Income Tax and Equilibrium)

Question (Equilibrium and Fiscal Policy)

What is Money?

Example

Money Supply

Example

The Role of Commercial Banks

Creating Money

Example

Question - Money Supply

Question - Creating Money

Question - Creating Money

Question (Expenditure Method)

Question (Real GDP, Nominal GDP and Deflator)

Question (Real GDP, Nominal GDP and Deflator)

Question (Labor Market and Structural Unemployment)

Question (Unemployment - Classification)

Question (Problems with Measuring Unemployment)

Question (Production Function)

Question (Labor Productivity)

Question (Economic Growth)

Question (Aggregate Expenditure and Equilibrium)

Question (Aggregate Expenditure and Equilibrium)

Question (Equilibrium and Fiscal Policy)

Question (Equilibrium and Fiscal Policy)

Question 1: Definitions & Concepts

Question 2: GDP (Real, Nominal, Growth, Deflator)

Question 3: Aggregate Production Function

Q.4: Labor Force, Unemployment

Q.5: Aggregate Expenditure and Output