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Principles Of Macroeconomics
Western University
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Browse the full collection of course materials, past exams, study guides and class notes for Economics 1022A/B - Principles Of Macroeconomics at Western University verified by our …

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Mao Takongmo

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Class Notes

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Economics 1022A/B Lecture Notes - Lecture 3: Gross Domestic Product, Factor Cost, Final Good

Gdp (gross domestic product) is the market value of all final goods and services protected in a country (domestic) in a given time period: consumption

Economics 1022A/B Lecture 5: chapter 5

Economics 1022A/B Lecture Notes - Lecture 9: Frictional Unemployment, Real Wages, Structural Unemployment

Frictional unemployment is unemployment that arises from normal labour market turnover. The creation and destruction of jobs requires that unemployed w

Economics 1022A/B Lecture Notes - Lecture 10: Real Wages, Potential Output, Business Cycle

Economic growth is the sustained expansion of production possibilities measured as the increase in real. The economic growth rate is the annual percent

Economics 1022A/B Lecture Notes - Lecture 11: Loanable Funds, Capital Loss, Financial Capital

Economics 1022A/B Lecture Notes - Lecture 12: Barter, Credit Union, United States Treasury Security

Money is any commodity or token that is generally acceptable as a means of payment. A means of payment is a method of settling a debt. Money has three

Economics 1022A/B Lecture Notes - Lecture 15: Barter, Mortgage Loan, None Of The Above

Money is any commodity or token that is generally acceptable as a means of payment. A means of payment is a method of settling a debt. A medium of exch

Economics 1022A/B Lecture Notes - Lecture 16: Nominal Interest Rate, Bank Reserves, Excess Reserves

The bank of canada pays for the securities with newly created bank reserves. Banks now have more reserves but the same amount of deposits, so they have

Economics 1022A/B Lecture Notes - Lecture 17: Foreign Exchange Market, Demand Curve, Canadian Dollar

To buy goods and services produced in another country we need money of that country. Foreign bank notes, coins, and bank deposits are called foreign cu

Economics 1022A/B Lecture Notes - Lecture 18: Foreign Exchange Market, Demand Curve, Interest Rate Parity

At a given current exchange rate, if the expected future exchange rate for. Canadian dollars rises, the supply of canadian dollars decreases and the de

Economics 1022A/B Lecture Notes - Lecture 19: Aggregate Supply, Potential Output, Longrun

The quantity of real gdp supplied is the total quantity that firms plan to produce during a given period. Aggregate supply is the relationship between

Economics 1022A/B Lecture Notes - Lecture 20: Fiscal Policy, Monetary Policy, Xm Satellite Radio

Economics 1022A/B Lecture Notes - Lecture 21: Aggregate Demand, Fiscal Policy

Aggregate demand is the relationship between the quantity of real. The aggregate demand curve (ad) plots the quantity of real gdp demanded against the

Economics 1022A/B Lecture Notes - Lecture 22: Aggregate Demand, Monetary Policy, Potential Output

Economics 1022A/B Lecture Notes - Lecture 23: John Stuart Mill, Output Gap, Macroeconomics

The amount by which potential gdp exceeds real gdp is called a inflationary gap When real gdp is less than potential gdp, the gap is called a recession

Economics 1022A/B Lecture Notes - Lecture 24: Disposable And Discretionary Income, Consumption Function, Aggregate Demand

Disposable income, yd, is either spent on consumption goods and services, c, or saved, s. The relationship between consumption expenditure and disposab

Economics 1022A/B Lecture Notes - Lecture 25: Fundamental Interaction, Comparative Advantage, Opportunity Cost

Imports are the good and services that we buy from people in other countries. Exports are the goods and services we sell to people in other countries.

Economics 1022A/B Lecture Notes - Lecture 26: Comparative Advantage, Rent-Seeking, Human Capital

Comparative advantages change with on-the-job experience called learning- by-doing. When a new industry or a new product is born an infant industry it