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

-CPI

-3 ranges of AS

-Unanticipated Inflation

-Phillips Curve