Macro an der Hamburg School Of Business Administration | Karteikarten & Zusammenfassungen

Lernmaterialien für Macro an der Hamburg School of Business Administration

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TESTE DEIN WISSEN

What does the LM curve represent?

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TESTE DEIN WISSEN

All possible combinations of interest rate i and output y for goods market equilibrium

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TESTE DEIN WISSEN

Why is unemployment important

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TESTE DEIN WISSEN

it indicates inefficiency in usage of Labour Force

there are Labour shortages possible

(it affects the welfare of unemployed)

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TESTE DEIN WISSEN

Difference between nominal and real?

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TESTE DEIN WISSEN

Nominal is in current prices, real is in prices of a base year

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TESTE DEIN WISSEN

What is the relation between money and bonds?

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TESTE DEIN WISSEN

Generally there is a choice between holding money or holding bonds


Money can be used for transactions, but has opportunity costs for not getting interest payments. It can be held as currency or deposit


Bonds can not be used for transactions but are paying interest

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TESTE DEIN WISSEN

Which curve of the IS-LM Model is affected by fiscal policies and how does it shift?

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TESTE DEIN WISSEN

The IS curve is affected by fiscal policie


fiscal expansion: right shift

fiscal contraction: left shift

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TESTE DEIN WISSEN

What is real GDP

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TESTE DEIN WISSEN

The GDP measured in goods prices of another year to determine real economic growth

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TESTE DEIN WISSEN

Which curve of the IS-LM Model is affected by monetary policies and how does it shift?

Lösung anzeigen
TESTE DEIN WISSEN

Monetary policies affect the LM curve


Monetary expansion: downwards shift

Monetary contraction/tightening: upwards shift

Lösung ausblenden
TESTE DEIN WISSEN

What is real wage?

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TESTE DEIN WISSEN

Wage measured in goods rather than money

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TESTE DEIN WISSEN

What is the demand function for a closed economy?

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TESTE DEIN WISSEN

Z = C + I + G

Demand = Consumption + Investment + Gov.spending

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TESTE DEIN WISSEN

What are discouraged workers?

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TESTE DEIN WISSEN

People who do not actively look for a job

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TESTE DEIN WISSEN

What is Labour force?

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TESTE DEIN WISSEN

All people, having a job or actively looking for one. 

Discouraged workers are not taken into the figures

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TESTE DEIN WISSEN

Three ways to calc the GDP

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TESTE DEIN WISSEN

value of all FINAL GOODS       --- (production side)

VALUE ADDED by each firm    --- (production side)


SUM OF INCOMES, Labout income + capital income

--- (income side)

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Beispielhafte Karteikarten für deinen Macro Kurs an der Hamburg School of Business Administration - von Kommilitonen auf StudySmarter erstellt!

Q:

What does the LM curve represent?

A:

All possible combinations of interest rate i and output y for goods market equilibrium

Q:

Why is unemployment important

A:

it indicates inefficiency in usage of Labour Force

there are Labour shortages possible

(it affects the welfare of unemployed)

Q:

Difference between nominal and real?

A:

Nominal is in current prices, real is in prices of a base year

Q:

What is the relation between money and bonds?

A:

Generally there is a choice between holding money or holding bonds


Money can be used for transactions, but has opportunity costs for not getting interest payments. It can be held as currency or deposit


Bonds can not be used for transactions but are paying interest

Q:

Which curve of the IS-LM Model is affected by fiscal policies and how does it shift?

A:

The IS curve is affected by fiscal policie


fiscal expansion: right shift

fiscal contraction: left shift

Mehr Karteikarten anzeigen
Q:

What is real GDP

A:

The GDP measured in goods prices of another year to determine real economic growth

Q:

Which curve of the IS-LM Model is affected by monetary policies and how does it shift?

A:

Monetary policies affect the LM curve


Monetary expansion: downwards shift

Monetary contraction/tightening: upwards shift

Q:

What is real wage?

A:

Wage measured in goods rather than money

Q:

What is the demand function for a closed economy?

A:

Z = C + I + G

Demand = Consumption + Investment + Gov.spending

Q:

What are discouraged workers?

A:

People who do not actively look for a job

Q:

What is Labour force?

A:

All people, having a job or actively looking for one. 

Discouraged workers are not taken into the figures

Q:

Three ways to calc the GDP

A:

value of all FINAL GOODS       --- (production side)

VALUE ADDED by each firm    --- (production side)


SUM OF INCOMES, Labout income + capital income

--- (income side)

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