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econ chara study guide 3

econ chara study guide 3 - Final Exam Topics 50 Multiple...

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Final Exam Topics 50 Multiple Choice. 1. Expansionary/Contractionary fiscal and monetary policy - 4 statements (the ones where one leads to the next) 2. Inflation and unemployment in combination - Phillips Curve 3. Money market: M^d and M^s (Where they intersect is equilibrium interest rate) 4. Calculation of real GDP, nominal GDP, and inflation rate from table (midterm 1) - given output and prices in diff. years, find above 5. Factors that affect M^s - monetary policy - reserve ratio - discount rate - open market operations 6. Investment demand curve (downward slope) - depends on interest rate 7. Money multiplier and credit creation system 8. M1 and M2 9. Labor Market - demand and supply - min. wage, where? 10. Aggregate Expenditure and factors that affect it - consumption - investment - government spending 11.Short run and long run Aggregate Savings curve (what it looks like) - long run= vertical 12.Phillips Curve - movements along vs. shifts 13.Expenditures multiplier 1/MPS, I, G 14.Government Deficit (G-T) When these change, how does that affect equilibrium level of output?
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15. DRI and GDP
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