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notes from review for test 2 crazy norman

# notes from review for test 2 crazy norman - Daily current...

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Daily current events – Population – population of earth is 6 bill in 2000, 1900- less than 2, know this the price of food is going up = major issue, which countries have done something about it? China, India, Russia (trying to increase pop. Russian women aren’t having kids), China, India, Russian, and Brazil Banking – 3 ways we can run bank, standard = fed interacts with the 1 st , loan goes into 2 nd and then to the 3rd, 2 nd way = everything happens in the first bank, take number from end of first bank put them in the front of the 2 nd bank, 3 rd way = fed could buy or sell securities from a rich person, effect = the rich individual then deposits or withdrawals money from a bank, there is no bank 1 and everything starts with deposit or withdrawal, makes deposit then the process starts with step 2 from the notes. IS/LM – balance budget question – dG=dT+a= initial difference between d and t. , if t and g are not equal initial, initial difference between d and t. Addition calculations – know deficit, difference between input and output…taxes, compute interest rate, figure out I find group, straight algebra. Graphs Changes that have take place 1980s fed has been concerned with inflation targeting(keep inflation from coming back), since then policy has been to keep inflation away, Bernake had problem, possibility investment banks would collapse, Fed is now the lender of last resort ( JP Morgan pushed government to create a

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