Econ 110A Summary

Econ 110A Summary - Econ 110A Summary Chapter 1: Intro...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Econ 110A Summary Chapter 1: Intro Terms: • 3 variables of economics: 1. Output 2. Unemployment rate 3. Inflation rate • Inflation, deflation, recession. Formulas: • Output per worker Chapter 2: Tour of Book Terms: • GDP: measure of aggregate output 3 ways of calculating: o Value added o Value of final goods and services o Sum of incomes • Nominal GDP • Real GDP • Chained GDP • Employment • Unemployment rate • Labor force • Participation rate • GDP deflator: • Consumer Price index Problems: • When to add goods to GDP, if their built outside US. • Calculate GDP using the 3 methods • Calculate nominal GDP, Real GDP, deflator, and percentage change. Formulas: • GDP (nominal and real) • Inflation rate • GDP deflator • Unemployment rate Chapter 3: The Goods Market Terms: • Compositions of GDP: Investment, government spending, consumption, net exports, inventory investment, • Inventory investment: • Demand for goods • Propensity to consume • Endogenous vs exogenous • Equilibrium in the goods market: o Production = Demand o Investment = Saving • Autonomous spedning • Balanced budget • Private saving • Public saving • Propensity to save Problems: • Consumption function: o Write and solve for equilibrium conditions o Find the value of the multiplier o Draw graph o What’s happening to autonomous spending and inventory investment? o What happens when fiscal policy is chased? • How does multiplier change? Formulas: • Total demand for goods and linear relation • Disposable income • Equilibrium condition • Autonomous spending • Private Savings • Public savings Chapter 4: Financial Market Terms: • Ben Bernake • Types of money: o Money o Commodity money o Fiat money o Currency o Checkable deposits • Supply for money •...
View Full Document

This note was uploaded on 04/14/2008 for the course ECON 110A taught by Professor Staff during the Spring '08 term at UCSD.

Page1 / 11

Econ 110A Summary - Econ 110A Summary Chapter 1: Intro...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online