ECON 2305 1st EditionFinal Exam Study Guide Final Exam Chapter 7 (Economic Growth)Comparing Economies- Real GDP per capita- Growth ratesThe 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 growthChapter 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 curveAggregate Supply- The short-run aggregate supply curve- The long-run aggregate supply curveThe AD-AS model- Short-run macroeconomic equilibrium- Shifts of aggregate demand: short-run effects- Shifts of SRAS curve- Long-run macroeconomic equilibriumMacroeconomic Policy- Keynesian model- Supply and demand shocksChapter 9 (Aggregate Demand and Supply continued)- The wealth effect- Interest rates- Exports and imports- Spending multiplier- Inflationary gaps- Recessionary gapsChapter 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 curveFiscal Policy and the Multiplier- Multiplier effects of government purchases- Multiplier effects of government transfers and taxesThe Budget Balance- Budget balance as a measure of fiscal policy- Business cycle and fiscal policy- Deficits and government debtsChapter 11 (Savings, Investments and the Financial System)Money- The Federal reserve system- M1- M2- Market for loanable fundsFinancial Systems- Financial intermediaries- The demand for assets- Asset prices and macroeconomics- Trade-offsChapter 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 supplyChapter 13 &14 (Monetary Policy)- Expansionary and Contractionary Monetary Policy- Inflation and Unemployment- Investment spending- Liquidity