Exam+1+Topics

Economics, Micro, and Macro Three Fundamental Questions of Economics Types of Economies Goal - Improved Standard of Living Goal - Economic Growth Goal - Full Employment Goal - Stable Prices Goal - Balance of International Trade Goal - Equitable Distribution of Income Goal - Manageable Government Debt and Deficit Factors of Production Factor Payments Leakages and Injections Circular Flow Diagram Markets Demand Curve Determinants of Demand Determinants of Supply Market Equilibrium Income and Expenditure Approach to Measuring GDP Problems with Accurately Counting GDP GDP, National Income, GNP, and GNI Nominal GDP v Real GDP Measuring Inflation - GDP Deflator Measuring Inflation - CPI Types of Inflation Cost of Inflation Fisher Effect Causes of Inflation Business Cycle, Recession, Depression Calculating Economic Growth and the Rule of 70 Economic Growth, PPF, and the Tradeoff Between Capital and Consumer Goods Factors that Contribute to Economic Growth