Economics Macro Review

Slides:

Advertisements

Similar presentations

Unit 3 Macroeconomics.

Advertisements

Economic Changes and Cycles

Chapter 2: A Tour of the BookBlanchard: Macroeconomics Slide #1 Chapter Topics Aggregate Output The Other Major Macroeconomic Variables.

Macroeconomics unit What you should know by now. You should be able to : Define the following: Gross Domestic Product (GDP) & the 4 components Unemployment.

Chapter 1 Why Study Money, Banking, and Financial Markets?

Macro Objectives Talk’n’ Economics –Vocabulary: GDP, Inflation, Debt, Supply, Demand…and much, much more Economic Facts –Descriptions of the US and world.

Chapter 1 Slide 1 Figure 1-1 page 4 Real GDP per Person in the U.S. Economy Slide 2 Figure 1-2 page 5 The Inflation Rate in the U.S. Economy Slide 3 Figure.

Copyright © 2013 N.S.. What Do You Know About…? 3) Unemployment 4) Inflatio n Deflati on 1) Cycle Write down words that come to mind when you think of.

Chapter 4 Aggregate Demand and Aggregate Supply. Macro Issues: © How do we measure a nation’s performance? By the value of aggregate output produced by.

CHAPTER 1: The Foundation of Business Sections: 1. Getting Down to Business 2. What is Economics 3. Perfect Competition Supply & Demand 4. Monopolistic.

Lecture 15 – academic year 2014/15 Introduction to Economics Fabio Landini Main Macroeconomic Aggregates (II)

 What is inflation? --a general upward movement in price of goods and services in an economy  What is deflation? --a general downward movement in.

Begin By: Vinh Nguyen $100 $200 $300 $400 $500 Shifters of Demand The Law of Demand SupplyUnemploymentGDPShifters Of Supply.

Unit-2 Macro Cram GDP, Unemployment, Inflation. Circular Flow of a closed Economy Spending Goods and services bought Goods and services bought Revenue.

Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE1 CHAPTER Measuring Economic Activity Economic Conditions Change 2-3.

2-1Measuring Economic Activity 2-2Economic Conditions Change 2-3Other Measure of Business Activity.

Basic Macroeconomic.

How do we measure the economy’s growth? Understanding Macroeconomic indicators of prosperity.

Begin End ShowTable of Contents Lecture (6.1.2) Copyright © 2013 N.S.

Begin $100 $200 $300 $400 $500 Which way Does a Supply Curve Shift? Graphs Unemployment GDP Random Which way Does a demand Curve shift?

Essential Standard 1.00 Understand the role of business in the global economy. 1.

Standard: b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation, and aggregate supply.

Standard: b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation, and aggregate supply.

Macro Overview Unit 4. What it is? ► Remember: Macroeconomics is the part of economics that looks at the behavior of the whole economy collectively, rather.

Economic Indicators. Gross Domestic Product GDP per Capita.

Why Study Money, Banking, and Financial Markets? chapter 1.

Unit-2 Macro Review GDP, Unemployment, Inflation.

1 © ©1999 South-Western College Publishing PowerPoint Slides prepared by Ken Long Principles of Economics 2nd edition by Fred M Gottheil.

ESSENTIAL STANDARD 1.00 UNDERSTAND THE ROLE OF BUSINESS IN THE GLOBAL ECONOMY. 1.

Macroeconomics CHAPTER 7 Tracking the Macroeconomy PowerPoint® Slides by Can Erbil © 2005 Worth Publishers, all rights reserved.

Test Friday! Opportunity cost Formulae for: market supply curve, aggregate demand curves If the market for IPhone cases has a demand curve of Q (D)=60-P.

Economics o Economics o Microeconomics o Macroeconomics o Resource Development o Adam Smith  freedom of ownership  profits o Invisible Hand o Malthusian.

Why Study Money, Banking, and Financial Markets? chapter 1.

Macroeconomics. Drill 4/2  So far, everything we have talked about in class has been MICROeconomics. Today we are going to start MACROeconomics.  What.

Standard: b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation, and aggregate supply.

Going Big!!!!! Micro Price Quantity Costs Revenues Profits Macro GDP Unemployment Inflation Interest Rates Money Supply.

Macro Concepts Aggregate Supply and Aggregate Demand GDP Unemployment

Economic Activity in a Changing World

Why Study Financial Markets?

Why Study Money, Banking, and Financial Markets?

GDP: Measuring the National Economy

AP Week 6 Section 3 continued with GDP, unemployment and inflation

2 Economic Activity 2-1 Measuring Economic Activity

Macro – Economic Indicators

Coach Guttmann Economics

ECN 200: Introduction to Economics Macroeconomic Aggregates

Introduction to AD/AS Model

Economics Sample Unit 4 Macroeconomics

Why Study Money, Banking, and Financial Markets?

Going Big!!!!! Micro Macro Price Quantity Costs Revenues Profits Firms

Debt Fiscal Policy Inflation Acronyms $100 $100 $100 $100 $200 $200

វិទ្យាស្ថានខ្មែរជំនាន់ថ្មី Institute of New Khmer

INFLATION AND UNEMPLOYMENT

1. Business Cycle Gross Domestic Product 2. Peak Consumer Price Index

The Role of Money and Credit

Aggregate Demand and Aggregate Supply

ECONOMICS: October 30 Warm-up Draw a business cycle diagram. Then, predict how you think Real GDP and inflation are related. Learning Target In order.

GDP and the Economy Vocabulary Coach Lott.

2 Economic Activity 2-1 Measuring Economic Activity

2-Types of Inflation Demand-Pull Inflation: Cost-Push Inflation

What is GDP? What are the components of GDP ?.

What is GDP? What are the components of GDP ?.

Ch. 12, 13, and 17 Test is next Friday

Chapter 2 Test Review Test is Thursday.

The Economics of Money, Banking and Financial Markets

Chapter 2 Test Review Test is Thursday.

Ch Test is Wednesday (warm-ups due then)

Inflation Station 5 stations/5 topics

Presentation transcript:

Economics Macro Review Unit 4

GDP What does GDP stand for? What does GDP measure? What is the formula for GDP? What two factors are not counted in GDP? What is the difference between real and nominal GDP?

CPI What does CPI stand for? What does CPI measure? What is the formula for CPI? What is inflation and deflation? What is the formula for the rate of inflation?

What is the CPI for year 1, 2, and rent of year 3?

Find the rate of inflation between years 1 and 2, and years 3 and 4 200 212 260 249

Aggregate Supply and Demand What is aggregate supply? What is aggregate demand? Draw what a aggregate demand and aggregate supply graph would look like.

What is the formula to define the rate of unemployment? What is unemployment? What is the formula to define the rate of unemployment? What are the three types of unemployment and give me an example of each.

Label the parts of the business cycle D

Business Cycle What is a leading economic factor of the business cycle? What is a lagging economic factor of the business cycle? Would the following be leading or lagging? Stock market crashes over night causing the economy of panic and downturn. Unemployment becomes a trend due to the economy. Interest rates increase significantly due to an increase in peoples income.

Answer What is the main different between national debt and governmental deficit?