ECO102H1 Lecture Notes - Output Gap, Gross Domestic Product, Final Good
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ECO102H1 Full Course Notes
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Source: lr13, lr 12, chapter 19 (exclude international economy until later in the course) and chapter 20. Here are a number of key macro variables we will be considering: Some basic concepts: aggregate output (gdp, rate of inflation, rate of unemployment, balance of payments, exchange rate. 1. 3 what are the two major policy levers available that can influence these macro. The following data are from the profit and loss statement of a corporation, adjusted to assist us in building the domestic income and expenditure accounts. To other firms re: consumable items re: capital goods. Purchases of goods and services (from other firms) Rearrange the above data into two columns: left column to contain cgs plus profits; right side to contain sales. Imagine there are 1000 identical firms that make up this economy. Then the totals for the economy would be 1000 times the entries in 1. 1.