The Income-Expenditure Framework:
Consumption and the Multiplier
This chapter launches Section IV of the text, in which the assumption of fully flexible prices is
replaced by the assumption that prices are sticky, and adjust only sluggi
3. How would the entry of a large number of young people into the labour force reduce
The entry of a large number of young people in the labour force means the labour force consists of
many workers with relatively
Money, Prices, and Inflation
In the full-employment flexible-price model of the economy, there is no interaction between the
determination of prices and output. This is referred to as the classical dichotomy. This chapter
serves two pur
Extending the Sticky-Price Model:
More Analytical Tools
This chapter pursues three objectives. First, it extends the IS model introduced in Chapter 9 to
incorporate a scenario in which interest rates are not fixed and exogenous, but ra
Real GDP in Canadian History
The flexible-price model does not give a complete picture of the macroeconomy
real GDP does not always grow by the same rate as potential output
the unemployment rate is not always at the natural rate
ECN 301-INTERMEDIATE MACROECONOMICS I
FINAL EXAM-PRACTICE QUESTIONS
1. The North American quantity equation is
A) M = (1/V) x (P x Y)
B) M x V = P x Y
C) M / V = P x Y
D) M / P = V x Y
2. Hyperinflations arise when governments
A) attempt to obtain extra r
GMS CLASS 5
- Sustainable Development refers to development that meets the needs of
the present without compromising the ability of future generations to meet
their own needs
- World Bank
- World Resources Institute
- EMBARQ- WRI
Macro Lecture 2
Demand of Labor:
Marginal product of labor (MPL) = the number of output the pervious number of
Marginal Revenue product of labour (MRPN) = MPN * price
Firms should hire if the wage rate is equal to MPN
MPN = change in price / ch
Macro 2 Notes, Class 1
Macro looks at the economy wide issues, mostly concerned with economic growth in the
long run which can sustained.
Concerned about business fluctuations recessions, recovering, economic boom (when
GMS FINAL CLASS KEY NOTES
Chapter 1 Introducing Management
Self-Awareness leads to self-improvements
Faade Known only to myself
, Arena Known to all
Unknown - Known to no one
, Blind Spot - Known to others
General Environment of Organizati
ECN301 CLASS 3
Chapter 5: Saving and Investment, in the open Economy
How are saving and investment related to a countrys trade position?
What is the balance of payments account and what are its determinants?
What is the Twin Deficits?
Macro Lecture 3 Chapter 4
Consumption and Savings:
Income = consumption + savings
Closely related to real interest rate
C^d = sum of households consumptions
S^d = y C^d G
o S^d is desired savings
o C^d desired consumption
o Y is output
GMS CLASS 2 (LECTURE NOTES)
SLENT FOR Vancity (Credit Union)
You have to think of the characteristics outside of the companys environment when
conducting a SLENT Analysis.
GMS CLASS THREE (CHAPTER 3)
Globalization is the process of growing interdependence among the components of
the global economy
How to do International Business
- A common first step into international business is global sourc
MHR EXAM REVIEW CH 8 10 11 12 13 14 15 16
Orientation Long-term socialization between the employee and employer
Training Short-term efforts to impart information and instructions related to the
Employee Orientation (Onboarding) A procedure t
Chapter 12: Keynesian Business Cycle Analysis
Wages and prices are rigid or sticky, these are the reasons why aggregate demand
fluctuations cause changes in real output
Nominal Wage Rigidity
Situation where nominal wages are slow to adjust to
The Open Economy
Two aspects of the interdependence of the world economies:
- International trade in goods and services
- Worldwide integration of financial markets
Nominal Exchange Rate
- Number of units of foreign currency that can be obtain
Real Business Cycle (RBC)
- Charles Plasser, Robert Barro
- Money is supper neutral, no effect in short run or long run
- Money supply is endogenous
- Rational expectations
- Continuous market clearing
- Perfectly flexible prices
GMS200 CLASS ONE
Introduction to Global Management
- What are the challenges of working in the new economy?
- What are organizations like in the new workplace?
- Who are managers and what do they do?
- What is management process?
- How do
ECN301 CLASS 1
Chapter 3 Productivity, Output, and employment
What determines the economys productive capacity?
What is supply shock?
How does labor market work?
What causes unemployment?
The Production Function
Factors of production are in
GMS CLASS 7
Forms of business Financing, and Business Plans
Forms of Business
- Individual or a married couple pursuing business for a profit.
- Owner is personally liable for business debts and claims
- Two or more people
MHR523 CLASS ONE
Discrimination leads to consequences.
HR affects every business aspect.
- In the late 1800s and early 1900s it was all about outcomes and not about
behavior, Pay was based on performance/output
- Early 190
MHR523 Midterm Notes
1. 6 HRM Responsibilities*:
1. Job Analysis
- The procedure for determining the tasks, duties, and responsibilities of each job, and the human attitudes
(in terms of knowledge, skills, abilities) required to perform it
2. HR Planning
Assignment # 1- Due February 15, 2017 in class
Question 1 (20 marks)
Suppose a firm's hourly marginal product of labour is given by MPN = A(200 N).
a. If A = .2 and the real wage is $10 per hour, how much labour will the firm want to
Stock market Crash
Stock market Crash
Date: November 27, 2015
Stock market Crash
Effects of a stock market crash on different components of aggregate expenditure?
Aggregate expenditure is the sum total of expe
4. I think that it is not likely for inflation to be less than 5% per year. Using the
percentages provided, the rate of growth of the nominal money stock, 10%, is
subtracted by the rate of labor force growth, 3%, is 7%. This he
Finance 501 Portfolio Assignment
Professor: Steve Joyce
Date: Dec 9, 2015
Name: Ram Pun (050298256)
Lachhiman Pun (050298538)
Hao Jie Lin (500335698)
Executive Summary: Greatfinance2015
Exercises Chap 5:
1. Assume that the economys production function is Cobb-Douglas:
Y K L1 ,
the capital stock is 80, the total labour force L is 100 and 0.4 .
a. Derive the labour demand function.
b. Derive the equilibrium real wage.
c. What is potential