EC 1102 • 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

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

Exam like Question - Unemployment and Labor Force Participation Rate Calculation

Exam like Question - Unemployment / Labor Force

Exam like Question - Unemployment / Labor Force

Question - Unemployment Rate

Question - Unemployment / Labor Force

Question - Unemployment Classification

Unemployment - Classification

Question - Problems with Measuring Unemployment

Question - Minimum Wage

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Question 15

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 - Nominal vs Real Values

Question - Nominal vs Real Values

Question - Measuring Inflation with CPI

Question - CPI

Question - CPI

Question - Nominal vs Real Interest

Question - CPI and Inflation

Question - CPI vs GDP Deflator

What is Money?

Money Supply

The Role of Commercial Banks

Creating Money

Central Bank and Monetary Policy

Quantity Theory of Money

Money Market

Aggregate Expenditure

Consumption Function

Example

Example

Investment

Example

Government Purchases

Net Export

Planned Aggregate Expenditure and Equilibrium

Example

Example

Example

Example

Spending Multiplier and Tax Multiplier

Example

Question - Disequilibrium and Change in Inventories

Question - Disequilibrium and Change in Inventories

Question - Planned Aggregate Expenditure and Equilibrium

Question - Aggregate Expenditure and Equilibrium

Fiscal Policy in Aggregate Expenditure Model

Spending Multiplier and Tax Multiplier

Multipliers with Proportional Income Tax

Example

Government Budget and Automatic Stabilizers

Example

Question - Spending Multiplier with Proportional Income Tax and Equilibrium

Question - Equilibrium and Fiscal Policy

Exam like Question - Equilibrium and Fiscal Policy

Exam like Question - Equilibrium and Fiscal Policy

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