Study Guide - Test 3

Study Guide - Test 3 - 11. The Market for Money section...

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Econ 2100 – Test 3 – Spring, 2008 Prof. Dodd Study Guide Focus on the following concepts : 1. The three major concerns of macroeconomics – economic growth, unemployment and the price level 2. Classical versus Keynesian views of the economy 3. Defining/measuring GDP – focus on the expenditure approach 4. Going from nominal to real GDP 5. Measuring unemployment and the price level (CPI) 6. The classical definition of full employment (section beginning on p. 538) 7. Sources of economic growth 8. The main difference between New Growth Theory and Neoclassical Growth Theory 9. The functions of money 10. How the Fed and the banking system create money
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Unformatted text preview: 11. The Market for Money section beginning on page 592 12. The Demand for a currency in a foreign exchange market, for example the market for US dollars in terms of Japanese yen. 13. For (12) above, be able to identify what causes a shift in the demand curve 14. Also, be familiar with the reasons why foreign exchange markets are more volatile than markets for most goods and services 15. Pros and cons of fixed versus flexible exchange rates Ill give you a better idea of the number of questions from each chapter during class on Monday after Spring Break....
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