ECON 2410 Study Guide - Midterm Guide: Openmarket, Autarky, Canadian Dollar

• School: University of Guelph
• Department: Economics
• Course: ECON 2410
• Professor: Angela Trimarchi

Document Summary

Growth rates from the end of the roman empire until 1500 were flat with no growth, while growth rates from 1500 to. During the malthusian era, output per person stayed constant. Convergence easier before the 19th century because the differences between countries were smaller than they are today. Know what the graphical representation of the relationship between capital per worker and output per worker looks like. Consumption per capita multiply price by quantity sold. I(cid:374) a(cid:374)other (cid:272)urre(cid:374)(cid:272)(cid:455) di(cid:448)ide (cid:271)(cid:455) the e(cid:454)(cid:272)ha(cid:374)ge rate. Purchasing power parity multiplying original countries quantities by new prices in other currency. Standard of living country being compared on top, relative to on the bottom. Financial crisis collapse in stock prices, sharply declining consumption, and reduced investment spending by firms. Some problems with low interest rates include (cid:272)o(cid:374)strai(cid:374)t o(cid:374) the (cid:272)e(cid:374)tral (cid:271)a(cid:374)k"s a(cid:271)ilit(cid:455) to respo(cid:374)d to further (cid:374)egative macroeconomic shocks, and an incentive for too much risk taking by investors.