ECON 100 Test No 3 Topics

St. Charles Community College 
ECON 100   Survey Economics
Subjects To Be Covered On Test No. 2

 

  • What is the difference between demand in the micro sense and aggregate demand in the macro sense?
  • What is the difference between supply in the micro sense and aggregate supply in the macro sense?
  • How do we measure an economic policy?
  • How do we measure an economy?
  • Real vs nominal values.
  • What factors shift the aggregate demand curve?
  • What factors shift the aggregate supply curve?
  • AD and AS and inflation.
  • What is inflation?
    • How is it measured?
    • What causes inflation?
    • What are the costs of inflation?
  • Describe the multiplier process.

  • What is money?
    • How is it created?
    • What affects money demand?
    • How is the money supply controlled?
    • What are the chief responsibilities of the Federal Reserve System?
    • Why are there so many interest rates?
  • What factors affect investment?

  • What is economic growth?
    • How is it measured?
    • What is the role of government in economic growth?
  • Economic policy:
    • Demand side policies.
    • Supply side policies.
    • Fiscal policy.
    • Monetary policy.
  • Why our leaders can’t control the economy.