Macro_Final_StudyGuide_10_8_10

Macro_Final_StudyGuide_10_8_10 - equilibrium price,...

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AE 311 Macroeconomics Final Examination – Key Topics Test strategy: Understand the answers on the mid-term Eliminate obviously incorrect answers and save difficult questions for last Subject areas to emphasize: Essential elements of fiscal, monetary, supply-side policies (e.g., roles of tax cuts, spending, money supply, interest rates, velocity of money…) Basic policy prescriptions for various types of macroeconomic instability by Keynesians, monetarists, supply siders, extreme monetarists, new classical economists Relevant diagrams of shifts of the AD and AS curves for the above policies including
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Unformatted text preview: equilibrium price, directions of movement and what they depict, gaps relative to the above policy prescriptions Macroeconomic policies impacts on trade The Business Cycle and the circular flow of economic activity, injections and leakages Phillips curve Automatic stabilizers Inflationary and recessionary GDP gaps Various multipliers import and export, spending, tax, etc. Types of government spending...
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