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Study Guides for ECON 2020U at UOIT

Macroeconomics

ECON 2020U Study Guide - Midterm Guide: Xm Satellite Radio, Gdp Deflator, Workforce Productivity
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Midterm Review Chapter 20 – Measuring GDP and Economic Growth Tutorial Review  Gross domestic product is the market v...

Economics
ECON 2020U
Ingrid L.Stefanovic
ECON 2020U Study Guide - Final Guide: Federal Funds Rate, Price Level, United States Treasury Security

Chapter 15 – Monetary Policy Interest Rates and the Opportunity Cost of Holding Money  Short-term interest rates: the interest rates on financial assets that mature within six months or less.  Long-ter...

Economics
ECON 2020U
Ashfakuddin Rubel
ECON 2020U Study Guide - Final Guide: Nominal Interest Rate, Loanable Funds, Real Interest Rate

Chapter 10 – Saving, Investment Spending, and the Financial System Savings–investment spending identity: savings and investment spending are always equal for the economy as a whole. Budget surplus: excess of tax revenue...

Economics
ECON 2020U
Ashfakuddin Rubel
ECON 2020U Study Guide - Final Guide: Brookings Institution, Physical Capital, Growth Accounting

Chapter 9 – Long-Run Economic Growth Real GDP per Capita (real GDP divided by the population size) is the key statistic Even small differences in growth rates get magnified over time. The rule of 70: Example: If real ...

Economics
ECON 2020U
Ashfakuddin Rubel
ECON 2020U Study Guide - Final Guide: Foreign Exchange Market, Loanable Funds, Currency Appreciation And Depreciation

Chapter 19 – Open Economy Macroeconomics Balance of Payments  Balance of payments account distinguish between transactions that don’t create liabilities and those that do.  -Transactions that don’t cre...

Economics
ECON 2020U
Ashfakuddin Rubel
ECON 2020U Study Guide - Final Guide: Nominal Rigidity, Aggregate Demand, Aggregate Supply

Chapter 12 – Aggregate Demand and Aggregate Supply Aggregate Demand Curve: The relationship between the aggregate price level and the quantity of aggregate out demanded by households, businesses, the government, and th...

Economics
ECON 2020U
Ashfakuddin Rubel
ECON 2020U Study Guide - Final Guide: Aggregate Demand

Chapter 13 – Fiscal Policy The government funds programs through tax revenues. Some important terms:  Government Transfers: Payments by the government to households for which no good or service is provided ...

Economics
ECON 2020U
Ashfakuddin Rubel
ECON 2020U Study Guide - Final Guide: Seigniorage, Disinflation, Deflation

Chapter 16 – Inflation, Disinflation and Deflation Money and Prices  An increase in the money supply changes only prices in the long run.  According to the classical model of the price level, the real quantit...

Economics
ECON 2020U
Ashfakuddin Rubel
ECON 2020U Study Guide - Final Guide: Jobless Recovery, Unemployment, Efficiency Wage

Chapter 8 – Unemployment and Inflation Unemployment always rises during recessions and usually (but ont always) falls during periods of economic expansion Measuring the labour force participation rate  The percent ...

Economics
ECON 2020U
Ashfakuddin Rubel
ECON 2020U Study Guide - Final Guide: Business Cycle, Market Basket, Price Level

Chapter 7 – GDP and the CPI: Tracking the Macroeconomy The National Income and Product Accounts (NIPA)  measure our nation’s economic performance  compare American income and output to that of other nations ...

Economics
ECON 2020U
Ashfakuddin Rubel

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