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Macroeconomics (1. Measuring National Income (GDP (real) / capita…
Macroeconomics
1. Measuring National Income
GDP (real) / capita
Expenditure
Income
Output
Green GDP
Circular Flow
NNP
Business Cycle
GNI/GNP
(looks at usefulness)
4. Economic Policies
Fiscal
Contractionary
Expansionary
Monetary
Tight
Loose
Supply-side
Interventionist
Market-based
3. Economic Objectives
FEEL
F
ull employment
E
quity in income distribution
E
conomic growth
L
ow and stable prices
(Definition, Cause, Consequences)
(Trade-off)
2. AD/AS
Determinants of AD
Ways to measure
🔑 Keynesian vs Neoclassical (AS)🔑
LRAS/SRAS
Wages
Sticky
Flexible