Unformatted text preview: w Investment: macroeconomic versus financial Unemployment--details of definition and implications, natural rate of, cyclical, frictional, discouraged worker w On the exam you could have a list of cases and be asked whether the person was employed, unemployed or not in the labor force u Inflation: changes in relative prices versus inflation, index numbers; CPI and GNP deflator States of the macroeconomy : Business cycle, recession, depression. : Models : what is and is not being modeled and behavior versus identity w GDP identity: What is it and why is it true W Consumption function: what is it and why is it true. Marginal propensity to consumer (MPC) M multiplier m circular flow c Policy : Ideal Keynesian policy Supply siders Buchanan...
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- Fall '07
- Macroeconomics, final product, identity GDP identity, versus financial Unemploymentdetails, GDP question, output *market value