Macroeconomics The study of the relationships between aggregate economic variables and the choices made by policymakers to influence those variables ECON 162 10 12 15 Macroeconomic Objectives 1 Stable GDP Growth 2 Low Unemployment 3 Stable Prices Macroeconomic Variables 1 Output a Gross Domestic Product GDP b Gross National Product c National Income d Nominal vs Real 2 Prices a GDP Price Deflator BEA b Personal Consumption Expenditure PLE Price Index BEA c Consumer Price Index CPI BLS d Producer Price Index PPI BLS 3 Labor Markey Indicators a Unemployment Rate b Non Farm Payroll Employment c d Weekly Jobless Claims e Labor Force Participation Job Openings and Labor Turnover Survey 4 Monetary Policy a Money Supply Interest Rates b 5 International Transactions a Balance of Payments Accounts b Exchange Rates 6 Business Cycles a Consumer Confidence b Index of Leading Economic Indicators 7 Poverty and Inequality Lorenz Curve a b Gini Coefficient Macroeconomic Models 1 Classical Model 2 Keynesian Model 3 Aggregate Demand Aggregate Supply Model Macroeconomic Policies 1 Fiscal Policy 2 Monetary Policy a Changes in Government Spending and Taxes b President and Congress a Changes in Money Supply and Interest Rates b Federal Reserve System
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