Tuesday, March 3, 2009

Unit 4 Test Review

-Multipliers:  Government and Investment Spending Multipliers (or Expenditure Multipliers), Tax Multiplier, Balanced Budget Multiplier and the effect of fiscal policy on GDP.
-AD/AS Model, Determinants of AD and AS, why AD slopes downward.
-Foreign Exchange Market, Appreciation and Depreciation, as well as their effects on Imports/Exports
-MPC and MPS Calculation
-Nominal and Real GDP and Interest Rates
-Keynesian v. Classical Economic Theory
-3 ranges of AS
-Unanticipated Inflation
-Phillips Curve