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Economics Study Guide Ch 13-16
1. What is GDP?
2. What other measures do economists use to measure economic performance?
3. Describe the construction and purpose of a price index
4. What are the parts of the formula for GDP?
5. What are the phases of the business cycle?
6. What events led to the Great Depression?
7. Describe the trends in the business cycle since WWII
8. Describe examples of each type of unemployment
9. What are the causes and effects of inflation?
10. Describe the functions of the Federal Reserve
11. What is the reserve requirement system?
12. Identify specific monetary polices and their results
13. What are the effects of monetary policies in the long and short run?
14. What are the limitations of monetary policy?
15. What are the goals of government intervention in the economy?
16. Describe the ideas of J.M. Keynes
17. What is fiscal policy?
18. Identify examples of demand side policies and their effects
19. Identify examples of supply side policies and their effects
20. Which president is associated with supply-side policies?