Textbook Notes (369,133)
Canada (162,403)
Economics (818)
ECON 1100 (224)
Chapter 4

Chapter 4 Macroeconomics

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Department
Economics
Course Code
ECON 1100
Professor
Eveline Adomait

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Chapter 4: Macroeconomics Monday, January 14, 2013 4:29 PM 4.1 The Major Macroeconomic Issues Definitions Macroeconomic Policies- government actions designed to effect the performance of the economy as a whole Average Labour Productivity- output per employed worker 4.2 Macroeconomic Policy Definitions Monetary Policy- refers in normal times to central bank management of interest rates to achieve macroeconomic objectives Unconventional Monetary Policy- refers to measures such as loaning money to troubled financial institutions and buying long-term government debt, that central banks utilize in abnormal times to supplement conventional monetary policy Fiscal Policy- decisions that determine the government's budget, including the amount and composition of government expenditures and government revenues Government Budget Balance- the difference between gov
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