ECON 201 Study Guide - Comprehensive Final Exam Guide - Gross Domestic Product, Graph Of A Function, Recession
Document Summary
Basket of goods and services used by a family of 4: Annual payment of principle and interest (p&i) equation. Amount of loan / present value factor of annuity. Budget deficit (difference between expenses and revenue) expenses - . 2 trillion (minus) When price of services and goods go up. In charge: federal reserve system, uscentral bank, foreign. Used with gov"t officials: give huge holding to a broker for the length of their term, give the broker a rough idea of their intent for investments, no contact after. Comes out first friday of the month at 8am. 4. 1% x labor force of us = unemployment rate. Discouraged workers - looking for job for 1+ years. Bank will charge amount paying to bank (p&i) x # of months. Bank will keep extra amount aside until it equals 1 full payment, then it will get credited to your loan. Examples of simple and annuity for present and future.
