Essentials of Macroeconomics

Peter Jochumzen Essentials of Macroeconomics Download free books at Download free eBooks at bookboon.com 2 Peter Jochumzen Essentials of Macroeconomics Download free eBooks at bookboon.com 3 Essentials of Macroeconomics 1 st edition © 2010 Peter Jochumzen & bookboon.com ISBN 978-87-7681-558-5 Download free eBooks at bookboon.com Click on the ad to read more Essentials of Macroeconomics 4 Contents Contents 1 Prices and ination 10 1.1 Prices and price level 10 1.2 Ination 13 2 Exchange rate 15 2.1 Denition 15 2.2 Exchange rate systems 16 2.3 Changes in the exchange rate 16 2.4 e euro against the US dollar 17 2.5 Eective exchange rate 17 3 Gross domestic product 18 3.1 Denition 18 3.2 Real GDP 19 3.3 Growth 19 3.4 Purchasing power 19 3.5 GDP is a ow! 19 www.sylvania.com We do not reinvent the wheel we reinvent light. Fascinating lighting offers an infinite spectrum of possibilities: Innovative technologies and new markets provide both opportunities and challenges. An environment in which your expertise is in high demand. Enjoy the supportive working atmosphere within our global group and benefit from international career paths. Implement sustainable ideas in close cooperation with other specialists and contribute to influencing our future. Come and join us in reinventing light every day. Light is OSRAM Download free eBooks at bookboon.com Click on the ad to read more Essentials of Macroeconomics 5 Contents 4 e components of GDP 20 4.1 e circular ow – simple version 20 4.2 e circular ow – a more detailed version 21 4.3 Modeling a rm and the concept value added 21 4.4 Firms in the circular ow 22 4.5 Circular ow – circulation of goods 23 4.6 Circular ow – circulation of money 25 4.7 Private sector in the circular ow 25 4.8 e Government, Rest of the World and the nancial markets 26 4.9 Components of GDP 26 4.10 Four dierent measures of GDP 27 4.11 Capital 28 4.12 Investment 28 4.13 Components of GDP in numbers 200x 29 5 e Labor Market 30 5.1 Introduction 30 5.2 Uneployment classication 30 5.3 Full employment 31 5.4 Wages 31 360° thinking . © Deloitte & Touche LLP and affiliated entities. Discover the truth at www.deloitte.ca/careers