Index - I1-I21_Econ_Index.qxp 11/8/05 4:15 PM Page I-1...

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A Ability-to-pay principle, 496 case for income redistribu- tion, 512–513 progressive tax and, 500–501 redistribution of income and, 504 social insurance and, 504 Absolute advantage, 28 vs. comparative advantage, 28, 29, 411 Absolute value, 47 Absolut vodka, 402–403 Accelerator principle, 678 Accounting profit, 163 opportunity cost and, 162–164 Acid rain, 455, 462 controlling, 465–466 Actual investment spending, 678 Administrative costs, 495 Advanced Micro Devices, 338 Advance purchase restrictions, 356 Adverse selection, 446–448, 447 reputation, 448 screening, 447–448 signaling, 448 Advertising controversy of, 400–401 indirect signal and weak information, 401 role in product differentia- tion, 400–401 as waste of resources, 401 Africa disappointing long-run growth, 604–605 real GDP per capita, 602, 604–605 African Americans unemployment rate, 574 wage disparity and, 293–295 Aggregate consumption function, 672, 672–675 changes in aggregate wealth, 674 changes in expected future disposable income, 673–674 predicting post-World War II, 674–675 shifts of, 673–674 Aggregate demand changes in stock of physical capital, 649 debt deflation and, 810 demand shocks, 657–658 expectation changes, 649 fiscal policy and, 650 government policies and, 649–650 interest rate effect, 648 marginal propensity to save, 652–654 monetary policy and, 650, 754–760 multiplier, 651–654 shifts of, 657–658 wealth changes, 649 wealth effect, 647–648 Aggregate demand curve, 642–646, 646 AS-AD model, 654–661 changes in stock of physical capital, 649 contractionary fiscal policy, 697–698 expansionary fiscal policy, 696–697 expectation changes, 649 fiscal policy to shift, 696–698 inflationary gap, 697–698 Japan’s use of government spending to shift, 693, 696 reason downward-sloping, 647 recessionary gap and, 696–697 shifts of, 648–649, 657–658 wealth changes, 649 Aggregate output, 546 aggregate demand and, 646–650 business cycle, 546–547 Great Depression, 543–544 during Great Depression, 645–646 growth in 1948–2004, 547, 549 inflationary gap, 660 long-run aggregate supply, 642–643 long-run growth, 549–550 of Portugal, 559–560 real GDP and, 569–573 recessionary gap, 659 short-run aggregate supply, 637–638 short-run equilibrium, 655 trade balance and, 554–555 Aggregate price level, 551 aggregate demand and, 646–650 deflation, 551–553 during Great Depression, 645–646 inflation, 551–553 interest rate effect, 647 long-run aggregate supply curve and, 642–643 market baskets and price indexes, 577–578 money demand and, 745–747 money supply and, 761–764 real quantity of money, 745–746 short-run aggregate supply curve and, 637–638 short-run equilibrium, 655 wealth effect, 647 Aggregate production func- tion, 592, 592–596 growth accounting, 595–596 Aggregate spending fiscal policy effect on, 695–696 real money demand curve and, 747 Aggregate supply, 637–646 during Great Depression,
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This note was uploaded on 05/09/2011 for the course MATH 1105 taught by Professor Kyle during the Fall '10 term at Austral Chile.

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Index - I1-I21_Econ_Index.qxp 11/8/05 4:15 PM Page I-1...

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