ECON 2305 1st Edition Final Exam Study Guide Final Exam Chapter 7 Economic Growth Comparing Economies Real GDP per capita Growth rates The Determinants of Long Run Growth The demand for assets Asset price expectations Asset prices and macroeconomics Factors of Production The role of government in Promoting economic growth Chapter 8 Aggregate Demand and Supply Aggregate Demand Demand curve slop Aggregate demand curve and income expenditure model Shifts of the aggregate demand curve Government policies and aggregate demand Moving along the aggregate demand curve Aggregate Supply The short run aggregate supply curve The long run aggregate supply curve The AD AS model Short run macroeconomic equilibrium Shifts of aggregate demand short run effects Shifts of SRAS curve Long run macroeconomic equilibrium Macroeconomic Policy Keynesian model Supply and demand shocks Chapter 9 Aggregate Demand and Supply continued The wealth effect Interest rates Exports and imports Spending multiplier Inflationary gaps Recessionary gaps Chapter 10 Fiscal Policy and Debt Fiscal Policy Taxes consumption government transfers and borrowing Government budget Expansionary and contractionary fiscal policy Lags in fiscal policy laffer curve Fiscal Policy and the Multiplier Multiplier effects of government purchases Multiplier effects of government transfers and taxes The Budget Balance Budget balance as a measure of fiscal policy Business cycle and fiscal policy Deficits and government debts Chapter 11 Savings Investments and the Financial System Money The Federal reserve system M1 M2 Market for loanable funds Financial Systems Financial intermediaries The demand for assets Asset prices and macroeconomics Trade offs Chapter 12 Money and Financial Markets Money Creation and Federal Reserve Bank regulation Reserves bank deposits and the money multiplier Open market operations Money multiplier Required reserve ratio Discount rate Money supply Chapter 13 14 Monetary Policy Expansionary and Contractionary Monetary Policy Inflation and Unemployment Investment spending Liquidity traps