Political Science 2211E Lecture Notes - Lecture 12: Aggregate Demand, Market Structure, Fixed Exchange-Rate System
24 Jun 2016
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Polisci 2211 nov 9 2015 - poltics of economic policy & cdn market structure: domestic macro. If demand goes up = price goes up. Total demand for goods and services in the economy. Determined by: amount of money consumers and firms have to spend. What they are willing and able to buy. Growth: changes in the size of the national economy. Gdp: the value of all goods and services produced in a country in a given year. When gdp shrinks is called negative growth. Demand goes up = growth goes up. D goes down = growth goes down. Unemployment: the percentage of labour force that is willing and able to work but is unemployed. D goes down = unemployment goes up. Inflation: increase in the general level of prices measured through cpi. Inflation rate is a % changes in the price level over time. People and firms pay less interest on exsisting loans.
