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ECON 105- Final Exam Guide - Comprehensive Notes for the exam ( 93 pages long!)Premium

93 pages164 viewsFall 2017

Department
Economics
Course Code
ECON 105
Professor
David Cox
Study Guide
Final

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SFU
ECON 105
Final EXAM
STUDY GUIDE
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Simon Fraser University
ECON 105
Principles of Macroeconomics
Fall 2017
Final Exam
Prof: David Cox
Exam Guide
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Table of Contents:
Chapter 12: Aggregate Demand and Aggregate Supply
Chapter 13: Fiscal Policy
Chapter 13: Using Fiscal Policy for Stabilization Policy Purposes
Chapter 15: Monetary Policy and Aggregate Demand
Chapter 16: Inflation, Disinflation, and Deflation
Chapte 9: Ope Eoo Maoeoois
Chapter 12: Aggregate Demand and Aggregate Supply
AD/AS model extends the income expenditure model (Chapter 11) to jointly determine price
level (P) and Real GDP (Y)
Components of the model:
1. Aggregate Demand (AD)
2. Aggregate Supply
(i) Short-run Aggregate Supply (SRAS)
(ii) Long-run Aggregate Supply (LRAS)
Aggregate Demand
Aggregate Planned Expenditure 
=+++  
What impact would a change in the Price level P have on ?
Wealth Effect
An increase in P purchasing power of assets promising a given nominal dollar
payment will fall wealth
Wealth Autonomous Consumer Spending AC 
Interest Rate Effect
P outward shift of the money demand curve MD interest rate in the “money market”
Interest rate Planned Investment Spending  
Impact on Real GDP of a change in P and 
Price Level P: Increases from
to
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