ECON 104 Lecture Notes - Lecture 6: Underemployment, Gross Domestic Product, Matrox G200
25 Apr 2017
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Only one (with subquestions) numeric solving a macro problem working ae = y (y = c+i+g+x-m) Going to be similar to the sample questions given out. Nothing tricky or complicated, just want to make sure the basic ideas are understood. (what is macroecon, what is gdp what is cpi etc) Know what gdp is (the gross domestic product is how much a country produces in a year). Ho(cid:449) it"s (cid:272)al(cid:272)ulated total expenditure, or total acquisition. Real gdp is gdp with prices corrected to a single year, therefore ignoring the effect inflation has on the economy. Underemployment when someone wants to find a full time job but only has a part time job. When there is a change in the original numbers after finding the equilibrium. Effect (expenditure/tax) (cid:862)last suggestio(cid:374) do all of these (cid:271)y wed(cid:374)esday (cid:1006):(cid:1007)0 p(cid:373), if you ha(cid:448)e a(cid:374)ythi(cid:374)g (cid:894)a (cid:395)uestio(cid:374)(cid:895) the(cid:374) ask it(cid:863)
