TutorChase logo
Login

AP Macroeconomics

Study Notes
1.1.1. Definition of Scarcity
1.1.2 Definition of Economic Resources
1.1.3. Choices Due to Scarcity
1.2.1. Definition and Purpose of the PPC
1.2.2. Concepts Illustrated by the PPC
1.2.3. Shape of the PPC
1.2.4. Causes of PPC Shifts
1.2.5. Calculating Opportunity Cost Using PPC
1.3.1. Definition of Absolute Advantage
1.3.2. Definition of Comparative Advantage
1.3.3. Calculating Absolute and Comparative Advantage
1.3.4. Specialization According to Comparative Advantage
1.3.5. Gains from Trade
1.3.6. Calculating Mutually Beneficial Terms of Trade
1.4.1. Definition and Law of Demand
1.4.2. Price and Quantity Demanded
1.4.3. Determinants of Demand
1.4.4. Graphical Representation of Demand Curve Shifts
1.5.1. Definition and Law of Supply
1.5.2. Price and Quantity Supplied
1.5.3. Determinants of Supply
1.5.4. Graphical representation of supply curve shifts
1.6.1. Definition of Market Equilibrium
1.6.2. Definition of Surplus and Shortage
1.6.3. Price Adjustments to Restore Equilibrium
1.6.4. Calculating Surplus and Shortage
1.6.5. Changes in Demand and Supply Affecting Equilibrium
2.1.1 Definition of GDP
2.1.2. Components of GDP Using the Circular Flow Diagram
2.1.3. Methods of Measuring GDP
2.1.4. Calculating Nominal GDP
2.2.1. Definition of GDP as a Performance Indicator
2.2.2. Nonmarket Transactions
2.2.3. Informal and Underground Economies
2.2.4. Environmental Degradation
2.2.5. Quality of Life and Social Well-Being
2.2.6. Income Distribution
2.3.1. Definitions of Key Labor Market Indicators
2.3.2. Calculating Unemployment and Labor Force Participation Rates
2.3.3. Effects of Labor Market Changes on Indicators
2.3.4. Limitations of the Unemployment Rate
2.3.5. Types of Unemployment
2.3.6. Natural Rate of Unemployment
2.3.7. Cyclical Unemployment
2.4.1. Definitions of Key Terms
2.4.2. Calculating the Consumer Price Index (CPI)
2.4.3. Calculating the Inflation Rate
2.4.4. Real Variables and Adjusting for Inflation
2.4.5. Shortcomings of the CPI
2.5.1. Definition of Unexpected Inflation
2.5.2 Redistribution of Wealth Due to Inflation
2.5.3. Economic Costs of Inflation
2.5.4. Costs of Deflation
2.5.5. Policy Implications of Unexpected Inflation and Deflation
2.6.1. Definitions of Nominal GDP and Real GDP
2.6.2. Importance of Real vs. Nominal GDP
2.6.3. Calculation of Real GDP
2.6.4. GDP Deflator
2.6.5. Limitations of Nominal and Real GDP
2.7.1. Definition of Business Cycles
2.7.2. Phases of the Business Cycle
2.7.3. Turning Points of the Business Cycle
2.7.4. The Output Gap
2.7.5. Potential Output and Full-Employment Output
3.1.1. Definition of Aggregate Demand (AD)
3.1.2. Slope of the Aggregate Demand Curve
3.1.3. Shifts of the Aggregate Demand Curve
3.2.1. Definition of Key Terms
3.2.2. Multiplier Effect on Real GDP
3.2.3. Factors Influencing the Multipliers
3.2.4. Tax Multiplier and Its Impact on GDP
3.2.5. Applications of the Multipliers
3.3.1. Definition of the Short-Run Aggregate Supply (SRAS) Curve
3.3.2. Reasons for the Upward Slope of the SRAS Curve
3.3.3. Shifts in the SRAS Curve
3.3.4. Movement Along the SRAS Curve
3.4.1. Definition of the Short Run and Long Run
3.4.2. Definition of the Long-Run Aggregate Supply (LRAS) Curve
3.4.3. Relationship Between LRAS and PPC
3.4.4. Shifts in the LRAS Curve
3.4.5. Implications of a Vertical LRAS Curve
3.5.1. Definition of Short-Run Equilibrium
3.5.2. Definition of Long-Run Equilibrium
3.5.3. Output Gaps in Short-Run Equilibrium
3.5.4. Adjustment from Short-Run to Long-Run Equilibrium
3.6.1. Positive and Negative Shocks in Aggregate Demand (AD)
3.6.2. Positive and Negative Shocks in Short-Run Aggregate Supply (SRAS)
3.6.3. Types of Inflation: Demand-Pull and Cost-Push
3.6.4. Short-Run Trade-Offs and Policy Implications
3.7.1. Definition of Long-Run Self-Adjustment
3.7.2. Long-Run Adjustment After an Aggregate Demand Shock
3.7.3. Long-Run Adjustment After a Short-Run Aggregate Supply Shock
3.7.4. Shifts in the Long-Run Aggregate Supply Curve
3.7.5. Implications of Long-Run Self-Adjustment for Policy
3.8.1. Definition of Fiscal Policy and Related Terms
3.8.2. Tools of Fiscal Policy and Their Effects on Aggregate Demand
3.8.3. Multiplier Effects in Fiscal Policy
3.8.4. Short-Run Effects of Fiscal Policy Using the AD–AS Model
3.8.5. Lags in Discretionary Fiscal Policy
3.8.6. Impacts on Exchange Rates and Trade
3.9.1. Definition of Automatic Stabilizers
3.9.2. Role of Automatic Stabilizers in Business Cycles
3.9.3. Mechanisms of Automatic Stabilizers
3.9.4. Benefits and Limitations of Automatic Stabilizers
4.1.1. Principal Attributes of Financial Assets
4.1.2. Types of Financial Assets
4.1.3. Relationship Between Bond Prices and Interest Rates
4.1.4. Opportunity Cost of Holding Money
4.2.1. Definition of Nominal Interest Rate
4.2.2. Definition of Real Interest Rate
4.2.3. Relationship Between Nominal Interest Rate, Real Interest Rate, and Expected Inflation
4.2.4. Calculating Nominal and Real Interest Rates
4.2.5. Implications for Borrowers and Lenders
4.3.1. Definition of Money
4.3.2. Functions of Money
4.3.3. Measures of the Money Supply
4.3.4. Calculating Measures of Money
4.4.1. Key Terms in the Banking System
4.4.2. Organization of Bank Balance Sheets
4.4.3. Fractional Reserve Banking and Money Supply Expansion
4.4.4. The Money Multiplier
4.4.5. Factors Limiting the Money Multiplier
4.4.6. Calculating Money Supply Changes Using Balance Sheets
4.5.1. Definition of the Money Market
4.5.2. Factors Determining Money Demand and Supply
4.5.3. Equilibrium in the Money Market
4.5.4. Adjustments to Disequilibrium in the Money Market
4.5.5. Effects of Changes in Money Demand and Supply
4.6.1. Definition of Monetary Policy and Related Terms
4.6.2 Tools of Monetary Policy
4.6.3. Effects of Monetary Policy on the Money Supply and Interest Rates
4.6.4. Types of Monetary Policy and Their Effects
4.6.5. Lags in Monetary Policy
4.6.6. Monetary Policy in Ample Reserve and Limited Reserve Economies
4.6.7. Short-Run Effects of Monetary Policy
4.6.8. Interaction with Exchange Rates and Net Capital Flows
4.7.1. Definition of the Loanable Funds Market
4.7.2 Demand for Loanable Funds
4.7.3. Supply of Loanable Funds
4.7.4. National Savings in Closed and Open Economies
4.7.5. Equilibrium in the Loanable Funds Market
4.7.6. Adjustments to Disequilibrium
4.7.7. Effects of Changes in Demand and Supply
4.7.8. Impact of Government Policies on the Loanable Funds Market
5.1.1. Effects of Expansionary Policies in a Recessionary Gap
5.1.2. Effects of Contractionary Policies in an Inflationary Gap
​​5.1.3. Combined Effects on Aggregate Demand and Economic Variables
5.1.4. Scenarios of Policy Coordination
5.2.1. Definition of the Phillips Curve
5.2.2. Short-Run Phillips Curve and Equilibrium
5.2.3. Long-Run Phillips Curve and Equilibrium
5.2.4. Shifts in the Short-Run Phillips Curve
5.2.5. Shifts in the Long-Run Phillips Curve
5.2.6. Policy Implications of the Phillips Curve
5.3.1. Inflation as a Monetary Phenomenon
5.3.2. The Quantity Theory of Money
5.3.3. Calculations Using the Quantity Theory of Money
5.3.4. Long-run implications of money supply changes
5.3.5. Policy Implications of the Quantity Theory of Money
5.4.1. Definition of Government Budget Surplus and Deficit
5.4.2. Definition of National Debt
5.4.3 Relationship Between Budget Deficits and National Debt
5.4.4 Issues Related to the Burden of the National Debt
5.4.5. Advantages of Government Debt
5.4.6. Policy Implications and Strategies to Manage National Debt
5.5.1. Definition of Crowding Out
5.5.2. Government Borrowing and the Loanable Funds Market
5.5.3. Short-Run Effects of Crowding Out
5.5.4. Long-Run Effects of Crowding Out
5.5.5. Mitigating Crowding Out
5.6.1. Definition and Measures of Economic Growth
5.6.2. Determinants of Economic Growth
5.6.3. The Relationship Between Employment, Output, and Productivity
5.6.4. The Aggregate Production Function and Per Capita Output
5.6.5. The Production Possibilities Curve (PPC) and Long-Run Growth
5.6.6. Implications of Economic Growth
5.7.1 Public Policies Influencing Economic Growth
5.7.2. Supply-Side Fiscal Policies
5.7.3. Impact of Public Policies on Productivity
5.7.4. Aggregate Supply, Demand, and Potential Output
5.7.5. Challenges and Limitations of Public Policies
6.1.1. Definition of Balance of Payments (BOP)
6.1.2. Current Account (CA)
6.1.3. Capital and Financial Account (CFA)
6.1.4. BOP Transactions: Credits and Debits
6.1.5. Interrelationship Between CA and CFA
6.1.6. Implications of BOP Imbalances
6.2.1. Definition of Exchange Rate
6.2.2. Currency Appreciation and Depreciation
6.2.3. Determination of Exchange Rates
6.2.4. Calculating Currency Values
6.2.5. Fixed vs. Floating Exchange Rates
6.3.1. Definition of the Foreign Exchange Market
6.3.2. Demand for Currency
6.3.3. Supply of Currency
6.3.4. Equilibrium Exchange Rate
6.3.5. Adjustments to Disequilibrium Exchange Rates
6.3.6. Factors Affecting Supply and Demand in the Foreign Exchange Market
6.4.1. Determinants of Currency Demand and Supply
6.4.2. Effects of Changes in Demand and Supply on the Equilibrium Exchange Rate
6.4.3. Impact of Fiscal Policy on the Foreign Exchange Market
6.4.4. Impact of Monetary Policy on the Foreign Exchange Market
6.4.5. Real-World Examples of Policy Impacts on Exchange Rates
6.5.1. Relationship Between Exchange Rates and Net Exports
6.5.2. Factors Causing Currency Appreciation and Depreciation
6.5.3. Impact of Exchange Rate Changes on Aggregate Demand
6.5.4. Real-World Applications of Exchange Rate and NX Changes
6.6.1. Relationship Between Real Interest Rates and Capital Flows
6.6.2. Impact of Capital Flows on Foreign Exchange Markets
6.6.3. Effect of Capital Flows on the Loanable Funds Market
6.6.4. Role of Central Banks in Influencing Capital Flows
6.6.5. Combined Effects on Net Exports and Aggregate Demand

Hire a tutor

Please fill out the form and we'll find a tutor for you.

1/2
Your details
Alternatively contact us via
WhatsApp, Phone Call, or Email
Send WhatsApp Message
+44 (0)1865 306636
info@tutorchase.com