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Macroeconomics - CrCo > .22-10-27 Xina's Economy 60% Smaller Than Claimed - Macro > . skip > .
22-10-27 GDP Deflator - Macro > .
22-2-4 How to Read the Jobs Report | WSJ > .
Deflation ..
24-3-22 Things I (Do) Worry About: Deflation || Peter Zeihan > .
1) Macroeconomics - the study of the entire economy as a whole rather than individual markets.
2) In general policy makers try to achieve three goals:
a. Keep the economy growing over time (gross domestic product - GDP)
b. Limit unemployment (unemployment rate)
c. Keep prices stable (inflation rate)
3) GDP is the value of all final goods and services produced within a country's border in a specific period of time, usually a year.
a. Transactions where nothing new was produced - don't count as GDP.
b. Also not including illegal activities.
c. Measured in dollars.
d. Nominal GDP is GDP not adjusted for inflation.
e. Real GDP is GDP adjusted for inflation.
4) Recession - when two successful quarters, or six months, show a decrease in real GDP. a. Depression - a severe recession.
5) Unemployment rate is calculated by taking the number of people that are unemployed and dividing by the number of people in the labor force, times 100.
a. Discouraged workers - unemployed people that were looking for work, but have given up.
b. There are three types of unemployment:
- frictional unemployment - the time period between jobs, when a worker is searching for, or transitioning from one job to another.
- structural unemployment - unemployment caused by lack of demand for a worker's specific type of labor.
- cyclical unemployment - unemployment due to recession.
c. Natural rate of unemployment - the lowest rate of unemployment that economy can sustain over a long period.
6) Inflation - an increase in a currency supply relative to the number of people using it, resulting in rising prices of goods and services over time.
a. Deflation - a decrease in general price level of goods and services.
Inflation ..
Monetarism ..
1) Macroeconomics - the study of the entire economy as a whole rather than individual markets.
2) In general policy makers try to achieve three goals:
a. Keep the economy growing over time (gross domestic product - GDP)
b. Limit unemployment (unemployment rate)
c. Keep prices stable (inflation rate)
3) GDP is the value of all final goods and services produced within a country's border in a specific period of time, usually a year.
a. Transactions where nothing new was produced - don't count as GDP.
b. Also not including illegal activities.
c. Measured in dollars.
d. Nominal GDP is GDP not adjusted for inflation.
e. Real GDP is GDP adjusted for inflation.
4) Recession - when two successful quarters, or six months, show a decrease in real GDP. a. Depression - a severe recession.
5) Unemployment rate is calculated by taking the number of people that are unemployed and dividing by the number of people in the labor force, times 100.
a. Discouraged workers - unemployed people that were looking for work, but have given up.
b. There are three types of unemployment:
- frictional unemployment - the time period between jobs, when a worker is searching for, or transitioning from one job to another.
- structural unemployment - unemployment caused by lack of demand for a worker's specific type of labor.
- cyclical unemployment - unemployment due to recession.
c. Natural rate of unemployment - the lowest rate of unemployment that economy can sustain over a long period.
6) Inflation - an increase in a currency supply relative to the number of people using it, resulting in rising prices of goods and services over time.
a. Deflation - a decrease in general price level of goods and services.
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