ECON110Goal of micro and macro government intervention notes - Goal of micro and macro government intervention Trust Government Intervention Pensions $

ECON110Goal of micro and macro government intervention notes

This preview shows page 0 - 1 out of 2 pages.

Info icon Subscribe to view the full document.

Unformatted text preview: 10/21/2011 Goal of micro and macro government intervention Trust Government Intervention? Pensions- $ you didn’t own until u retired Yolk ERISA- Employment Retirement Income Security Act 401K- a personal savings plan whereby you will be asked to choose between 1 and 16 % to deduct from your income to put into your own personal savings plan, pay no current federal income tax; portable, can withdraw for certain purposes(have to pay it back) 10/24/2011 Macroeconomics Results Business Cycle -peak- highest point of cycle -trough- lowest point Measures of macro performance -Output-CDP Growth, what happened to the GDP in one year, unless we are increasing output, the standard of living is declining, GDP needs to grow in excess of economy in order to maintain healthy jobs, and standard of living -Unemployment- annually what is the unemployment rate -Inflation- dangerous, unchecked destroys all assumption we have of economy Recession - 2 consecutive cordially periods of negative growth Labor force and unemployment rate Labor force- age 16 or over, all people who are actively employed or looking for a job Unemployment rateTypes of unemployment -Seasonal- people out of work at a point of time because there jobs are seasonal (ex. ski resort) -Frictional- in between jobs concept -Structural - unemployment as a result of changes in industries (industry being less successful/more successful ) skills don't match (robots, not trained to work) -Cyclical- caused by troughs in the business cycle Full Employment Inflation- increase in the general price level Price index- Measurement of overall general price level Hyperinflation - BAD BAD BAD BAD Redistributive effect of inflation Income effects of inflation Wealth Price Stability- policy good ...
View Full Document

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes