• Chapter 14: Money, Banking, and Financial Institutions (2)Chapter 14: Money, Banking, and Financial Institutions (2)

    Functions of Money Medium of exchange Used to buy/sell goods Unit of account Goods valued in dollars Store of value Hold some wealth in money form Liquid

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  • Chapter 13: Fiscal Policy, Deficits, and Debt (2)Chapter 13: Fiscal Policy, Deficits, and Debt (2)

    Fiscal Policy Deliberate changes in Government spending Taxes Designed to Achieve full employment Control inflation Encourage economic growth

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  • Chapter 12: Aggregate Demand and Aggregate Supply (2)Chapter 12: Aggregate Demand and Aggregate Supply (2)

    Real GDP desired at each price level Inverse relationship Real balances effect Interest effect Foreign purchases effect

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  • Chapter 11: Business Cycles, Unemployment, and InflationChapter 11: Business Cycles, Unemployment, and Inflation

    The Business Cycle Alternating increases and decreases in economic activity over time Phases of the business cycle Peak Recession Trough Expansion

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  • Chapter 10: GDP and Economic GrowthChapter 10: GDP and Economic Growth

    Gross Domestic Product Measure of aggregate output Monetary measure Avoid multiple counting Market value of final goods Ignore intermediate goods Count value added

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  • Chapter 9: Monopolistic Competition and OligopolyChapter 9: Monopolistic Competition and Oligopoly

    In monopolistic competition, firms can differentiate their products by the product attributes, by service, with location, or with brand names and packaging. There is relatively easy entry and exit, just not as easy as with perfect competition. That is why the number of sellers is not as large as in perfect competition, but it is relatively large. T...

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  • Chapter 8: Pure MonopolyChapter 8: Pure Monopoly

    An Introduction to Pure Monopoly Single seller—a sole producer No close substitutes—unique product Price maker—control over price Blocked entry—strong barriers to entry block potential competition Nonprice competition—mostly PR or advertising the product

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  • Chapter 7: Pure CompetitionChapter 7: Pure Competition

    We will be discussing all four of these market models, but first we will start with pure competition. The other market models will be discussed in future chapters. Pure competition involves a very large number of firms producing a standardized product and there is easy entry and exit. Pure monopoly is a market structure in which one firm is the sol...

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  • Chapter 6: Businesses and Their CostsChapter 6: Businesses and Their Costs

    The Business Population Plant Factory, farm, mine, store, website, warehouse Firm Operates one or more plants Industry Group of firms that produce the same products

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  • Chapter 5: Market Failures: Public Goods and ExternalitiesChapter 5: Market Failures: Public Goods and Externalities

    Market Failures Market fails to produce the right amount of the product Resources may be Overallocated Underallocated

    ppt25 trang | Chia sẻ: thanhlam12 | Ngày: 12/02/2019 | Lượt xem: 681 | Lượt tải: 0