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Consumption function : Consumption Function Basics

By: Sal Khan

The basic idea of a consumption function

Consumption function. Marginal propensity to consume and multiplier. Keynesian Cross and IS-LM model. We are steadily building up the tools to understand the Keynesian Cross and the IS-LM model. In this tutorial, we begin to model consumption as a linear

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Historical circumstances explained by AD/AS : Real GDP driving Price

By: Sal Khan

Thinking about how high utilization could drive price as another justification for an upward sloping short-run aggregate supply curve

Aggregate demand and aggregate supply. Keynesian thinking. Demand-pull and cost-push inflation. Fiscal and monetary policy. In the last tutorial, we claimed that the aggregate demand and aggregate supply model (AD-AS) would be useful for analyzing macroec

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Inflationary and deflationary scenarios : Hyperinflation

By: Sal Khan

Basic of hyperinflation. Weimar Germany, Hungarian Pengo and Zibabwean Dollar

Inflation and deflation. CPI-U. Real and nominal return. Phillips Curve.

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Keynesian thinking : Keynesian Economics

By: Sal Khan

Contrasting Keynesian and Classical Thinking

Aggregate demand and aggregate supply. Keynesian thinking. Demand-pull and cost-push inflation. Fiscal and monetary policy. Whether you love him or hate him (or just consider him a friend that you respect but disagree with every-now-and-then), Keynes has

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Money supply : Money Supply- M0 M1 and M2

By: Sal Khan

Different ways of measuring the money supply

Fractional reserve banking and the money supply.

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The Phillips Curve - Inflation and unemployment : Unemployment Rat...

By: Sal Khan

Understanding how the headline unemployment rate (U-3) is calculated

Inflation and deflation. CPI-U. Real and nominal return. Phillips Curve.

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Keynesian Cross : Keynesian Cross

By: Sal Khan

Analyzing planned expenditures versus actual output using the Keynesian Cross

Consumption function. Marginal propensity to consume and multiplier. Keynesian Cross and IS-LM model. We now build on our consumption function models and start to explore ideas of planned expenditures as a function of output. When plotted with the actual

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Components of GDP : Examples of Accounting for GDP

By: Sal Khan

Thinking about how different types of expenditures would be accounted for in GDP

Circular flow of income and expenditure. Gross domestic product. You already understand the circular nature of the economy and how GDP is defined from the last tutorial. Now let's think about how economists define the composition of GDP. In particular, we

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Marginal propensity to consume (MPC) : MPC and Multiplier

By: Sal Khan

Introduction to the marginal propensity to consume and the multiplier

Consumption function. Marginal propensity to consume and multiplier. Keynesian Cross and IS-LM model. If you earn a $1, you might spend some fraction of it. This can then be income for someone else. This can keep going. In this tutorial, we'll explore how

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Measuring cost of living --inflation and the consumer price index ...

By: Sal Khan

Exploring the actual weightings for the CPI-U basket of goods

Inflation and deflation. CPI-U. Real and nominal return. Phillips Curve.

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Real and nominal GDP : GDP Deflator

By: Sal Khan

Relationship between the GDP deflator, nominal GDP and real GDP

Circular flow of income and expenditure. Gross domestic product. The value of a currency is constantly changing (usually going down in terms of what you can buy). Given this, how can we compare GDP measured in dollars in one year to another year? This tut

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Historical circumstances explained by AD/AS : Demand-Pull Inflatio...

By: Sal Khan

Thinking about whether inflation in the late 1960s is consistent with the AD-AS model

Aggregate demand and aggregate supply. Keynesian thinking. Demand-pull and cost-push inflation. Fiscal and monetary policy. In the last tutorial, we claimed that the aggregate demand and aggregate supply model (AD-AS) would be useful for analyzing macroec

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Fractional reserve banking : Full Reserve Banking

By: Sal Khan

Overview of full reserve banking in comparison to fractional reserve banking

Fractional reserve banking and the money supply.

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Inflationary and deflationary scenarios : Stagflation

By: Sal Khan

How a supply shock can cause prices to rise and the economy to stagnate

Inflation and deflation. CPI-U. Real and nominal return. Phillips Curve.

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GDP and the circular flow of income and expenditures : More on Fin...

By: Sal Khan

What happens when a good is not finished in a period

Circular flow of income and expenditure. Gross domestic product. Economics can some times get confusing because one person's expenditure is another person's income which can then be used for expenditure and on and on and on. Seems very circular. It is. Th

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IS-LM Model : Loanable Funds Interpretation of IS Curve

By: Sal Khan

Thinking about how real GDP can drive real interest rates

Consumption function. Marginal propensity to consume and multiplier. Keynesian Cross and IS-LM model. In this tutorial, we begin thinking about the impact of real interest rates on planned investment and output. We then use this to help us plot the IS cur

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GDP and the circular flow of income and expenditures : Circular Fl...

By: Sal Khan

Understanding the flow of resources in the simplest possible economy

Circular flow of income and expenditure. Gross domestic product. Economics can some times get confusing because one person's expenditure is another person's income which can then be used for expenditure and on and on and on. Seems very circular. It is. Th

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IS-LM Model : Investment and Real Interest Rates

By: Sal Khan

Intuition as to why high real interest rates lead to low investment and why low rates lead to high investment

Consumption function. Marginal propensity to consume and multiplier. Keynesian Cross and IS-LM model. In this tutorial, we begin thinking about the impact of real interest rates on planned investment and output. We then use this to help us plot the IS cur

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Measuring cost of living --inflation and the consumer price index ...

By: Sal Khan

Looking at actual sequential and year-over-year inflation data

Inflation and deflation. CPI-U. Real and nominal return. Phillips Curve.

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Inflationary and deflationary scenarios : Deflationary Spiral

By: Sal Khan

Basics of a deflationary spiral

Inflation and deflation. CPI-U. Real and nominal return. Phillips Curve.

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