Chapter 29
Current Account and Financial Account
What are the two accounts in the Balance of Payments?
Cyclical, Structural and Frictional
What are the 3 types of Unemployment?
Nominal Interest Rate - Inflation Rate = Real Interest Rate
What is the Interest Rate Formula?
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What is Econ Rocks?
Error amount
What is Statistical Discrepancy?
1946
What is the Employment Act?
We know it’s going to happen
What is Low Inflation?
888E
What is our scantron?
C.A. + F.A. = $0
What is the Balance of Payments Formula?
1% increase 2% decrease
What is Okun’s Law?
Is adjusted for inflation
What is Real Interest Rate?
Wednesday, March 12th
What is our 2nd exam date?
By Supply and Demand at equilibrium
How are exchange rates determined?
Minimum Wage, Unions and Efficiency Wage
What are the 3 causes of non-equilibrium in the labor market?
Not adjusted for inflation
What is Nominal Interest Rate?
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What is SO 209?
The Demand Curve
What is Derived Demand?
Wages increase each year by increasing in CPI
What is Indexed Wages?
Lowest point of the business cycle
What is Trough?
What is extra credit for the whole semester?