Macroeconomics Review Granning Ch10-14

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Macro QuestionAnswer
Savings and Loans are better known as these
Of the three horizons of Aggregate Supply this is the one where input prices are fixed, but output prices can vary
Percent of national debt owned by foreign countries
This effect determines how much larger the change will be on GDP to the initial change of spending
The amount by which an economy's aggregate expenditures at the full-employment GDP exceed those just necessary to achieve the full-employment level of GDP
Exports minus Imports equals
This is a schedule or curve showing the relationship between the price level and the amount of real domestic output that firms in the economy produce
when money is usable for buying and selling goods and services
This is a schedule or curvve that shows the amounts of real output (real GDP) that buyers collectively desire to purchase at each possible price level
Currency, coin and checkable deposits make up this definition of money
government spending in excess of tax revenues
Of the three horizons of Aggregate Supply this is where both input prices as well as output prices are fixed
The amount by which aggregate expenditures at the full employment GDP fall short of those required to achieve the full employment GDP
This term is used to explain a withdrawl of spending from the economy's circular flow of income and expenditures
This form of fiscal policy involves decreased governemnt spending and increased taxes
This is the biggest contributor to leakage when dealing with the expenditure model
this is when money is unrelated to its intrinsic value
This is a financial instrument issued by the federal government to borrow money to finance expenditures that exceed tax revenues
Macro QuestionAnswer
This equals total output divided by total input
The percent of the National Debt owned by government agencies
this can be defined as deliberate changes in government spending and tax collections designed to achieve full employment, control inflation, and encourage economic growth
An addition of spending to the income-expenditure model
This definition of money involves the addition of M1 + near monies
There are this many Federal Reserve banks
This is when money is used to enable people to transfer purchasing power from the present to the future
This form of fiscal policy involves increased government spending and reduced taxes
The ease of which an asset can be converted into money
A group of three economists appointed by the president to provide expertise and assisstance on economic matters
Anything that increases the government's budget deficit during an expansion without requiring explicit action by policymakers
To figure out this for a dollar take 1 and divide it by the price of a good
When an expansionary fiscal policy may increase the interest rate and reduce investment spending
This is using money as a yardstick for measuring the relative value of something
This man is responsible for the creation of the aggreagate expenditure model
Of the three horizons of Aggregate Supply this is the one where input prices as well as output prices can vary.
Is essentially the total accumulation of the deficits the federal government has incurred through time

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Created Jan 11, 2011ReportNominate
Tags:macroeconomic, review