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Unit 4: Macroeconomics: Production and Monetary Flows in the Economy by Mind Map: Unit 4: Macroeconomics: Production and Monetary Flows in the Economy
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Unit 4: Macroeconomics: Production and Monetary Flows in the Economy

FISCAL POLICY

Expansionary Fiscal Policy

Contractionary Fiscal Policy

Automatic Stabilizers

Drawback

Cyclical Balanced Budgets

MACROECONOMICS

Key Measures of Performance

GDP

Unemployment

Inflation

BUSINESS CYCLE

Economic Growth and Recession

Recovery: First part of the expansionary period

Peak: High inflationary pressure

Recession: Real GDP growth is negative

Depression: Prolonged recession

Trough: Economic activity does not decrease

Economist: John Maynard Keynes

MONEY

History

Function: exchange, measure and value

Characteristics: Portable, durable, divisible, distinguishable, limited, hard to counterfeit

Currency

Baking Systems

Interest Rates

MONETARY POLICIES

Interest Rates

Government

Easy Money Policy

Tight Money Policy

GRAPHS

Philips Curve

Business Cycle

Aggregate Demand

Aggregate Supply