MACROECONOMICS MIDTERM REVIEW 1. Distinguish between an intermediate and final good. Give an example of each. 3. What are the four components of GDP by expenditures? 4. Given the following data, calculate GDP. 5. Following is a circular flow diagram. Complete the financial flows in the four empty rectangles: 6. List the various leakages and injections in an economy: 7. What must be true about leakages and injections for national income
Words: 621 - Pages: 3
A. Income. in macroeconomics is more than the income received by employees in the form of salaries or wages. example, for households and individuals, income is the sum of all the wages, salaries, profits, interest s payments, rents and other forms of earning received in a given period of time. B. Consumption. Consumption means the expenditures made by households on goods and services. Example, consumer durable products like washing machines are consumed immediately after purchase. C. Multiplier
Words: 998 - Pages: 4
6) The crisis getting global 7) The Financial crisis and Pakistan: 8) Sectoral impact of the crisis in Pakistan: 9) External sector impact i) Exports ii) Imports 10) Financial Sector impact on i) Foreign exchange ii) Banking sector iii) Circular debt iv) Stock market: 11) Inflation 12) Economic business sector impact i) Impact on textile industry 13) Social Sector Impacts 14) Poverty and unemployment: 15) IMF 16) Technique to tackle the situation Reason for choosing this topic:
Words: 5046 - Pages: 21
production theory to manage production • − Use cost theory to establish short and long run behavior • − Describe market structures to establish market equilibrium • − Use pricing strategies to enable organizational coherence • − Use macroeconomic principles to address market failures |MODULE |Session no. |Topic |Reference |Cases/ Assignment/ Group | | | |
Words: 1568 - Pages: 7
counter downturn or recession. Ap As the extract identifies, governments including that of the UK were keen to use Keynesian policies to boost aggregate demand in the face of the recession in 2009. An Government spending is an injection into the circular flow of income, while taxation is a leakage. Accordingly, government borrowing results in a net injection of aggregate demand to the economy, helping to generate business for firms and support output. This can be boosted by multiplier effects as the
Words: 1057 - Pages: 5
Fiscal Policy ECO/372 June 1, 2015 Alan Beideck Fiscal Policy The United States deficit, surplus, and debt influences the economy in a number of ways, and it creates an impact on taxpayers, social security and Medicare users, unemployed workers, and students. These issues also affect the countries financial reputation, exports, imports and the Gross Domestic Product (GDP). The U.S. economy is experiencing a budget deficit and outstanding debt, and the outlook is not good for
Words: 1227 - Pages: 5
Central Bank’s rate for overnight lending) is at 8,50% p.a. (COPOM - Committee of Monetary Policy). Even if this rate is low compared to historical rates (Figure 1) it continues to be one of the highest interest rates in the world, atracting a high flow of international investments. Due to the large capital inflows, the Brazilian Real has appreciated in the last years diminishing the competitiveness of Brazilian products in the world market. Since 2009, Brazil has experienced high capital inflows
Words: 1513 - Pages: 7
ECONOMICS 201: PRINCIPLES OF MACROECONOMICS Fall Term 2015 2:00-3:15 PM Mondays and Wednesdays Room 1090 CASL CRN # 11014 Section 004 Carol Hogan Office Hours: 10:00-10:45 AM 2190 Social Sciences Building Mondays and Wednesdays, 1:00- 313-436-9181 1:45 PM Mondays and Wednesdays, clhogan@umich.edu 5:00-5:45 PM Mondays, and by appointment |ECON 201 - Prin: Macroeconomics
Words: 1944 - Pages: 8
Intro to Economic Concepts Definition of Scarcity A situation in which human wants are greater than the capacity of available resources to provide those wants. 3 Parts: 1. People want it 2. There is a limited amount of it 3. It has more than one productive use Scarcity Scarcity vs. Abundance – people see many signs of abundance (e.g. cell phones, iPods) and also see resources wasted daily (e.g. water and food). However, as long as resources are limited and people’s
Words: 1239 - Pages: 5
Us At JohnMate1122@gmail.com 8 – Week Course Outline Please see theStudent Handbook to reference the University’sgrading scale. Table of Contents Week Topic(s) Learning Objective(s) Reading(s) Assignment(s) 1 Introduction to Macroeconomics • LO 1: Describe the characteristics of demand and supply, and apply the demand and supply model. • LO 2: Define real gross domestic product and identify the phases of a business cycle. • LO 3: Define inflation and deflation, and explain
Words: 1407 - Pages: 6
