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Principles of Macroeconomics 2e, The International Trade and Capital Flows, Measuring Trade Balances
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CC BY
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By the end of this section, you will be able to:

Explain merchandise trade balance, current account balance, and unilateral transfers
Identify components of the U.S. current account balance
Calculate the merchandise trade balance and current account balance using import and export data for a country

Subject:
Applied Science
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, The International Trade and Capital Flows, The Difference between Level of Trade and the Trade Balance
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Identify three factors that influence a country's level of trade
Differentiate between balance of trade and level of trade

Subject:
Applied Science
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, The International Trade and Capital Flows, The National Saving and Investment Identity
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Explain the determinants of trade and current account balance
Identify and calculate supply and demand for financial capital
Explain how a nation's own level of domestic saving and investment determines a nation's balance of trade
Predict the rising and falling of trade deficits based on a nation's saving and investment identity

Subject:
Applied Science
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, The International Trade and Capital Flows, The Pros and Cons of Trade Deficits and Surpluses
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Identify three ways in which borrowing money or running a trade deficit can result in a healthy economy
Identify three ways in which borrowing money or running a trade deficit can result in a weaker economy

Subject:
Applied Science
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, The International Trade and Capital Flows, Trade Balances and Flows of Financial Capital
Unrestricted Use
CC BY
Rating
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By the end of this section, you will be able to:

Explain the connection between trade balances and financial capital flows
Calculate comparative advantage
Explain balanced trade in terms of investment and capital flows

Subject:
Applied Science
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, The International Trade and Capital Flows, Trade Balances in Historical and International Context
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Analyze graphs of the current account balance and the merchandise trade balance
Identify patterns in U.S. trade surpluses and deficits
Compare the U.S. trade surpluses and deficits to other countries' trade surpluses and deficits

Subject:
Applied Science
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, The Keynesian Perspective, Aggregate Demand in Keynesian Analysis
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Explain real GDP, recessionary gaps, and inflationary gaps
Recognize the Keynesian AD/AS model
Identify the determining factors of both consumption expenditure and investment expenditure
Analyze the factors that determine government spending and net exports

Subject:
Mathematics
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, The Keynesian Perspective, The Building Blocks of Keynesian Analysis
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Evaluate the Keynesian view of recessions through an understanding of sticky wages and prices and the importance of aggregate demand
Explain the coordination argument, menu costs, and macroeconomic externality
Analyze the impact of the expenditure multiplier

Subject:
Mathematics
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, The Keynesian Perspective, The Phillips Curve
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Explain the Phillips curve, noting its impact on the theories of Keynesian economics
Graph a Phillips curve
Identify factors that cause the instability of the Phillips curve
Analyze the Keynesian policy for reducing unemployment and inflation

Subject:
Mathematics
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, The Macroeconomic Perspective, Comparing GDP among Countries
Unrestricted Use
CC BY
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By the end of this section, you will be able to:Explain how we can use GDP to compare the economic welfare of different nationsCalculate the conversion of GDP to a common currency by using exchange ratesCalculate GDP per capita using population data

Subject:
Applied Science
Economics
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, The Macroeconomic Perspective, How Well GDP Measures the Well-Being of Society
Unrestricted Use
CC BY
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By the end of this section, you will be able to:Discuss how productivity influences the standard of livingExplain the limitations of GDP as a measure of the standard of livingAnalyze the relationship between GDP data and fluctuations in the standard of living

Subject:
Applied Science
Economics
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, The Macroeconomic Perspective, Introduction to the Macroeconomic Perspective
Unrestricted Use
CC BY
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This module covers:Measuring the Size of the Economy: Gross Domestic ProductAdjusting Nominal Values to Real ValuesTracking Real GDP over TimeComparing GDP among CountriesHow Well GDP Measures the Well-Being of Society

Subject:
Economics
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, The Macroeconomic Perspective, Measuring the Size of the Economy: Gross Domestic Product
Unrestricted Use
CC BY
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By the end of this section, you will be able to:Identify the components of GDP on the demand side and on the supply sideEvaluate how economists measure gross domestic product (GDP)Contrast and calculate GDP, net exports, and net national product

Subject:
Applied Science
Economics
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, The Neoclassical Perspective, Balancing Keynesian and Neoclassical Models
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Evaluate how neoclassical economists and Keynesian economists react to recessions
Analyze the interrelationship between the neoclassical and Keynesian economic models

Subject:
Mathematics
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, The Neoclassical Perspective, The Building Blocks of Neoclassical Analysis
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Explain the importance of potential GDP in the long run
Analyze the role of flexible prices
Interpret a neoclassical model of aggregate demand and aggregate supply
Evaluate different ways for measuring the speed of macroeconomic adjustment

Subject:
Mathematics
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021