Macro notes - Macro notes Research of markets overall...

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Macro notes Research of markets overall Democracy---Market economy- individuals own means of production . .what we need to produce Land, transportation, telephone etc Command system Entity – 1 unit Political party, government Secondary – manufacturing Laissez Faire – strong exploit weak Health and safety laws modified through government intervention Labor force- 16+ gainfully employed or actively seeking work Keynes- should not intervene with economy cost would be too high Cost- sacrifice to obtain Depression- Unemployment rate rose 24.9% or inflation Economy and war Contracts once war is over Produce civilian products Integrated into economy EMPLOYMENT ACT OF 1946 1. full employment 2. price stability 3. economic growth (expanding to accommodate natural growth of population (Fiscal policy)- government’s power to collect and spend tax money to counter what’s happening ---spend more / cut back
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Federal reserve system – (monetary policy) …expand or contract supply of money GDP- value of all the goods and services produced in a country in a year at market and at final price (destination) (food/restaurant= service) Recession- 2 1/4s for 6 months at a time the economy is retracting Gross national product- GDP + anything produced by American companies and any American products in other countries Contract after war Consumer price index- measurement of consumer price changes at retail level Producer price index- measurement of avg. price changes at the level before retail New housing starts- how may new houses or units were started or begun in the month
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This note was uploaded on 04/08/2008 for the course WRT 201 taught by Professor Shaw during the Spring '08 term at Bergen Community College.

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Macro notes - Macro notes Research of markets overall...

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