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Macroeconomics Midterm 1 Review: Measurement, Productivity, and Consumption

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Expenditure Approach for Measuring GDP

  • Guided course
    Calculating GDP Using the Expenditure Approach
    02:31

Detailed Explanation of GDP Components

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    Government Purchases and Net Exports
    02:12
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    Consumption
    02:38
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    Investment
    02:01

Nominal GDP and Real GDP

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    Nominal GDP and Real GDP
    09:15
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    Inflation and the GDP Deflator
    03:04

Labor Force and Unemployment

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

Types of Unemployment

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

Classical Model and Keynesian Model

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    Classical Model
    02:54
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    Graphical Comparison of Classical Model and Keynesian Model
    03:41
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    Keynesian Model
    03:04

The Consumption Function

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    1 = MPC + MPS
    02:45
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    Equation of the Consumption Function
    02:49
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    Marginal Propensity to Consume and Save
    04:20

The Saving Function

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    Saving Function (Saving Schedule)
    06:14

Introduction to Fiscal Policy

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    Introduction; Discretionary Policy and Automatic Stabilizers
    09:33

Government Purchases and the Multiplier Effect

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    Government Purchases GDP Multiplier
    08:02

Taxes, the Multiplier Effect, and Automatic Stabilizers

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    Taxes as an Automatic Stabilizer
    03:50
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    Taxes and the GDP Multiplier
    05:11

Savings Equal Investment

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    National Savings, Private Savings, and Public Savings
    04:53
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    Saving Equals Investment
    07:48
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    Savings Equals Investment in an Open Economy
    03:56