Macro: study of economy as a whole Micro: study of individual prices, quantities, and markets Business cycle: short-term fluctuations of output, employment, and prices Economic growth: longer-term tre
Economics 132.03
Principles of Macroeconomics
Spring 2008
Professor Peter Ireland
http:/www2.bc.edu/~irelandp/ec132.html
First Midterm Exam
This exam has 9 questions on 3 pages; before you begin, plea
MATH1004 Fall 2014
Chapter 6 Review Solutions
Chapter 6: Probability
ISM: Finite Math
Chapter 6 Review Exercises
1. a.
The set of all possible pairs: cfw_PN, PD, PQ, PH, ND, NQ, NH, DQ, DH, QH
b. The
1/17/2017
Measuring economies: The trouble with GDP | The Economist
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Measuring economies
The trouble with GDP
Gross domestic product (GDP) is increasingly a poor measure of prosperity. It is
B r I e f#
30
juL 2010
Program on
retirement Policy
www.urban.org
InSIde
ThIS
ISS
2010 is the first year since the 197
that Social Security beneficiaries d
receive a cost-of-living increase.
The consu
The inverse sine function
sin x is not one-to-one, but f (x) = sin x restricted to /2 x /2 is one-to-one.
The inverse f 1(x) is written sin1 x or arcsin x.
f 1(x)
For 1 x 1, y = sin1 x means
sin y = x
[email protected]
http:/www2.bc.edu/peter-ireland/ec132.html
Labor Force = Number of Employed + Number of Unemployed
Unemployment Rate =
Number of Unemployed
100
Labor Force
Labor Force Participati
[email protected]
http:/www2.bc.edu/peter-ireland/ec132.html
CPI =
Cost of the Basket in the Current Year
100
Cost of the Basket in a Base Year
Inflation Rate =
CPI in Current Year CPI in Previous
[email protected]
http:/www2.bc.edu/peter-ireland/ec132.html
o
o
o
o
Y = C + I + G + NX
o
o
o
o
Y =C+ I +G+ X
o
o
o
o
o
o
o
M
o
o
o
o
o
o
o
o
o
o
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o
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o
o
GDP Deflator =
o
o
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o
o
Nominal GD
Gapminder World video assignment
Due February 17, 11:59pm
Overview and Purpose
You will work in a small group to create a short video in which you tell the story behind some
aspect of a Gapminder Worl
MATH1004 ~ Fall 2016
Section 5.1 Handout i
August 31, 2016 l i
I
l
Agenda:
1. Syllabus Quiz
2. Sets (5.1)
Sets:
Denitions:
0 A set, S, is any collection of objects.
0 The objects in S are called the e
Will Relle 11:00 Tuesday
Problem Set #3
1.
a. Although the federal budget and overall rate of investment in the US is not an
exact science, and we cannot conclude anything for certain, there is reason
uct
n
n
12. The outcomes S for which Pr( X
S)
2 2
3 3
p %.
13. Probabilities associated with a binomial random
4
.22.22
variable having parameters n and p can be
MATH1004 Fall 2014 4
approximated with
Economics 1132.03: Principles of Macroeconomics
Spring 2017
TTh 1:30-2:45, Devlin 008
Professor:
Sam Richardson
Office hours:
Fridays 1-3
[email protected]
or by appointment
(Please CC your TA on
S
T
10. an arrangement of r of the n objects in a specific
order.
11. P n, r
n(n 1)( n 2)
16!
2!14!
3. C 16, 2
( n r 1)
120 possibilities
r terms
4. 2 2014
5! = 240 ways
MATH1004 Fall
12. A combinati
The Different Multipliers:
The spending multiplier: Amt gov. purchased x (1/1-MCP)
Tax Multiplier: -MCP/1-MCPx(change in tax)
Spending Multiplier with automatic stabilizers: Change in y^d=(1-t)y
y^d=d
Discount rate-the interest rate at which banks can borrow from the fed
Federal funds rate-the interest rate at which banks charge each other for short term
loans.
-the fed sets a target for this
-mone
The Effects of a Shift in Aggregate Supply
o An increase in production costs effects on long-run equilibrium:
Because production costs affect the firms supply of goods and
services, changes in produ
The short-run aggregate-supply curve is upward sloping because
nominal wages are based on expected prices and do not respond
immediately when the actual price level turns out to be different from
what
The Aggregate-Supply Curve
o Unlike the aggregate-demand curve, which is always downward sloping, the
aggregate-supply curve depends on the time horizon examined.
o In the long run, the aggregate-sup
Model of aggregate demand and aggregate supply: the model that
most economists use to explain short-run fluctuations in economic
activity around its long-run trend.
Horizontal axis: overall quantity
Aggregate Demand and Aggregate Supply
Recession: a period of declining real incomes and rising unemployment
Depression: a severe recession
o During both of these, the economy experiences a contraction