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Macroeconomics Exam 3 Study Guide: Key Concepts and Applications

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Three Key Economic Ideas

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    Marginal Analysis
    09:36
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    People Are Rational
    02:02
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    Economic Incentives
    01:40

PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency

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    PPF - Graphing Increasing Marginal Opportunity Costs
    03:33
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    PPF - The Law of Increasing Opportunity Costs
    05:04

The Basics of Demand

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    The Basics of Demand
    06:02

Shifting Demand

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    Substitute and Complementary Goods
    01:27
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    Shifting Demand
    03:59
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    Consumer Preferences
    01:44

Types of Unemployment

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    Frictional, Structural, and Cyclical Unemployment
    05:44
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    Definition of Full Employment
    02:44

Labor Force and Unemployment

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    Problems with Measuring Unemployment
    04:35
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    Labor Force and Unemployment
    05:58

Long-Run Economic Growth

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    Economic Growth
    02:07

The Functions of Money; The Kinds of Money

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    Kinds of Money
    01:33
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    Functions of Money
    04:06
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    Definition of Money; Barter Economy; Double Coincidence of Wants
    02:30

Defining the Money Supply: M1 and M2

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    Defining the Money Supply: M1 and M2
    02:14

Required Reserves and the Deposit Multiplier

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    Bank Balance Sheet and Money Supply
    05:31
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    Required Reserves and the Deposit Multiplier
    03:16

Introduction to the Federal Reserve

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    Organization of the Federal Reserve
    05:05
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    Role of the Federal Reserve
    03:11

Monetary Policy and Aggregate Demand

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    Price Levels and the Money Market
    06:24
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    Monetary Policy and Aggregate Demand
    04:53
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    Interest Rates and Aggregate Demand
    06:42

Goals of Monetary Policy

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    Goals of Monetary Policy
    03:28

Introduction to Fiscal Policy

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    Introduction; Discretionary Policy and Automatic Stabilizers
    09:33