ECON 1100 Study Guide - Parsec, Commer, Basis Point

• School: University of Guelph
• Department: Economics
• Course: ECON 1100
• Professor: Eveline Adomait

Document Summary

Macro is the study of the performance of the national economies and policies gov- ernments use to try to improve that performance. The adding up of individual economic variables to obtain economy-wide totals. Decisions that determine the government"s budget, including the amount and composition of government revenues and expenditures. The sum of past government deficits and surpluses; a stock measure that is cal- culated at a point in time. Government actions designed to affect the performance of the economy as a whole. Refers in normal times to central bank management of interest rates to achieve macroeconomic objectives. Government policies aimed at changing the underlying structure, or institutions of the nations economy. Refers to measures such as loaning money to troubled financial institutions and buying long-term government debt, that central banks utilize in abnormal times to supplement conventional monetary policy. Spending by households on goods and services, such as food, clothing, and en- tertainment.