Banking and Monetary Policy_Butkiewicz_Date_021610

Banking and Monetary Policy_Butkiewicz_Date_021610 -...

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Chapter 1 continued 29: countries doing the most saving now, China about 10% per year and U.S. 3% (GDP) 31: local monopolies pay lower interest rate deposits but higher interest rates on loans 32: serve people who are “too poor” for other banks to loan to. Grameen Bank—“peer pressure” decreases moral hazard 33: example of when economies lag behind- Greece 34: countries were trying to catch up to western living standards and failed; people like Ted Turner, Reagan and Pop John Paul all received some blame for this; as a result shut down many technologies that share information when unrest in certain countries to prevent this panic/fall Appendix: 40: nominal GDP grew rapidly in 4 th quarter 2009, nominal GDP= $ output. Aggregate price level – average of all prices in economy; look at what consumers buy, and use expenditures to determine weight of specific products 41: GDP deflator- government owned, big corporations, all entitles in the economy 42: price index starts at 100 because tells how much prices increase from base period easily. Read GDP
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