Econ 1021- Midterm Exam Guide - Comprehensive Notes for the exam ( 140 pages long!)
12 Oct 2017
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Recessions: 1929-33; 1973-"75; 1981-"82; 1990-"91; mar nov 01; dec 07- Expansions: 33-37; 41-"45; 61-"69; 75-"80; 82-"90; 91-2001; nov 01. Nov 07; july 09 till date: as has per capita real gdp, economic growth = slope or rate of change of per capita real gdp, % change in. As of 2016: the average annual income of the top 1% of americans is ,153,293. You need to make at least ,436 to be in the top 1% income bracket: the average annual income of everyone else (bottom 99%) is ,567. Measuring gdp: types and inclusion of goods, some non-market goods are included, wages in kind (health benefits etc. , agricultural output for self-consumption. Other welfare payments, etc: government expenditure does not include the interest paid on government debt. Cpi services of goods of goods services of base current. Cost of base year base year year basket basket in in and and.
