handouts & visuals especially
helpful
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- Factors explaining downward slope of AD Curve
Interest Rate Effect, Wealth (Real Balances) Effect,
Foreign Purchases Effect (activity #23)
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- Be able to graph Recessionary & Inflationary gaps
in both AS/AD & Keynesian models
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- Different Ranges of AS Curve & accompanying
economic conditions (activity #17)
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- Fiscal Policy: 2 Types (activity
#30)
1. Taxing
2. Spending
(or a combination of the two)
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- relationship of LRAS & PPC (activity #29)
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- Demand & supply shocks & their impact on economy
(activity #27)
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- Explain why Wages & Prices downwardly inflexible
according to Keynesians (activity #21)
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- Discretionary & Automatic Fiscal Policy
(activity #31)
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- Which theory wants Economics to intervene to help
"correct" the economy?
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- Balanced Budget Multiplier
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- MPC & MPS What do they signify?
What is their relationship to Disposable Income?
(activity #20)
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- Rational Expectations Approach
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- Simplified (spending) Multiplier
(activity #21)
How is it determined and what is its effect?
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