Macro an der IU Internationale Hochschule | Karteikarten & Zusammenfassungen

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What is GDP p.c. ?

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Means Gross Domestic Product per capita.

Calculated: GDP / # of persons of a society.

Shows how high the average income of a member of this society is.

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What is money?

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Money is the set of assets in an economy that people regularly use to buy goods and services from other people.

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What is a monetary policy ?

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Monetary policy is the behaviour of the central bank concerning its control of money supply.

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Definition Investment:

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Acquisition of capital (e.g. machinery, buildings)

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What are the three methods to calculate GDP ?

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Production approach

Expenditure approach

Income approach

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What's the difference between GDP and GNI?

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GNI is not what a country is producing but what a nations' residents produce. Hence the Mercedes Benz factory in China, according to the GNI, would not count for China but for Germany because the owner of the production is a german resident.  

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What is the basic assumption of the AS-AD-Model ?

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It is the short-run behaviour of the economy:

"Aggregate demand determines aggregate production"

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What does MPC means?

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Marginal propensity to consume (MPC)

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Gross Domestic Product (GDP): Definition

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Gross Domestic Product is the total market value of all finally used goods and services produced within a defined time period by the factors of production that are located in a certain country.

Excluded from that things produced in the past and pure exchange of money (e.g. shares).

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What is a store value ?

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  • A store of value is an item that people can use to transfer purchasing power from the present to the future.
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What is the main task of a central bank ?

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A central bank’s main task is to control money supply, i.e. performing monetary policy.

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What is money supply?

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Money supply is the quantity of money circulating in the economy.

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Q:

What is GDP p.c. ?

A:

Means Gross Domestic Product per capita.

Calculated: GDP / # of persons of a society.

Shows how high the average income of a member of this society is.

Q:

What is money?

A:

Money is the set of assets in an economy that people regularly use to buy goods and services from other people.

Q:

What is a monetary policy ?

A:

Monetary policy is the behaviour of the central bank concerning its control of money supply.

Q:

Definition Investment:

A:

Acquisition of capital (e.g. machinery, buildings)

Q:

What are the three methods to calculate GDP ?

A:

Production approach

Expenditure approach

Income approach

Mehr Karteikarten anzeigen
Q:

What's the difference between GDP and GNI?

A:

GNI is not what a country is producing but what a nations' residents produce. Hence the Mercedes Benz factory in China, according to the GNI, would not count for China but for Germany because the owner of the production is a german resident.  

Q:

What is the basic assumption of the AS-AD-Model ?

A:

It is the short-run behaviour of the economy:

"Aggregate demand determines aggregate production"

Q:

What does MPC means?

A:

Marginal propensity to consume (MPC)

Q:

Gross Domestic Product (GDP): Definition

A:

Gross Domestic Product is the total market value of all finally used goods and services produced within a defined time period by the factors of production that are located in a certain country.

Excluded from that things produced in the past and pure exchange of money (e.g. shares).

Q:

What is a store value ?

A:
  • A store of value is an item that people can use to transfer purchasing power from the present to the future.
Q:

What is the main task of a central bank ?

A:

A central bank’s main task is to control money supply, i.e. performing monetary policy.

Q:

What is money supply?

A:

Money supply is the quantity of money circulating in the economy.

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