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Macro 11
- 4. Questions
- 7. Minimum Wage Laws Government sets a minimum wage that can legally be paid
- 8. Minimum Wage Laws Government sets a minimum wage that can legally be paid
- 9. Minimum Wage Laws Government sets a minimum wage that can legally be paid Price Floor
- 10. Minimum Wage Laws Government sets a minimum wage that can legally be paid Price Floor
- 11. $0 $5 $10 $15 $20 0 10 20 30 40 50 60 Wage Workers
- 12. $0 $5 $10 $15 $20 0 10 20 30 40 50 60 Demand Wage Workers
- 13. $0 $5 $10 $15 $20 0 10 20 30 40 50 60 Supply Demand Wage Workers
- 14. $0 $5 $10 $15 $20 0 10 20 30 40 50 60 Supply Demand Wage Workers
- 15. $0 $5 $10 $15 $20 0 10 20 30 40 50 60 Supply Demand Wage Workers
- 16. $0 $5 $10 $15 $20 0 10 20 30 40 50 60 Supply Demand Wage Workers
- 17. $0 $5 $10 $15 $20 0 10 20 30 40 50 60 Supply Demand Wage Workers Equilibrium Wage 30 workers 30 jobs no unemployment
- 18. $0 $5 $10 $15 $20 0 10 20 30 40 50 60 Supply Demand Wage Workers Equilibrium Wage 30 workers 30 jobs no unemployment Minimum Wage
- 19. $0 $5 $10 $15 $20 0 10 20 30 40 50 60 Supply Demand Wage Workers Equilibrium Wage 30 workers 30 jobs no unemployment Minimum Wage
- 20. $0 $5 $10 $15 $20 0 10 20 30 40 50 60 Supply Demand Wage Workers Equilibrium Wage 30 workers 30 jobs no unemployment Minimum Wage
- 21. $0 $5 $10 $15 $20 0 10 20 30 40 50 60 Supply Demand Wage Workers Equilibrium Wage 30 workers 30 jobs no unemployment Minimum Wage
- 22. $0 $5 $10 $15 $20 0 10 20 30 40 50 60 Supply Demand Wage Workers Equilibrium Wage 30 workers 30 jobs no unemployment Minimum Wage 40 workers 20 jobs 20 unemployed workers Minimum Wage
- 23. $0 $5 $10 $15 $20 0 10 20 30 40 50 60 Supply Demand Wage Workers Equilibrium Wage 30 workers 30 jobs no unemployment Minimum Wage 40 workers 20 jobs 20 unemployed workers Minimum Wage 20 workers get a raise 10 workers lose job 10 new unemployed workers Minimum Wage
- 24. Efficiency Wages
- 25. Efficiency Wages Higher wages make more productive employees
- 26. Efficiency Wages Higher wages make more productive employees
- 27. Efficiency Wages
- 31. Efficiency Wages Employee Bob Bill Wage $10 $20 Pizzas 5 12 Productivity Wage per Pizza $2.00 $1.67
- 32. Efficiency Wages
- 34. Efficiency Wages More Healthy Lower Turnover
- 35. Efficiency Wages More Healthy Lower Turnover Higher Quality
- 36. Efficiency Wages More Healthy Lower Turnover Higher Quality More Effort
- 37. Inflation and the Quantity Theory of Money Chapter 12
- 39. 100+ Currencies
- 54. The Two Problems of Macroeconomics
- 55. The Two Problems of Macroeconomics Unemployment
- 56. The Two Problems of Macroeconomics Unemployment Inflation
- 57. What is Money?
- 60. If money loses trust
- 61. If money loses trust It loses its value
- 62. If money loses trust It loses its value
- 68. Recipe for Disaster Print Money
- 69. Recipe for Disaster Print Money Set Price Ceilings
- 70. What is Money?
- 71. What is Money? Medium of Exchange
- 72. What is Money? Medium of Exchange Store ofValue
- 73. What is Money? Medium of Exchange Store ofValue Unit of Account
- 75. Medium of Exchange Buyers give to sellers
- 76. Medium of Exchange Buyers give to sellers Sellers accept from buyers
- 77. Unit of Account
- 81. Store of Value
- 82. Store of Value Trading time for time
- 83. Store of Value Trading time for time Today for tomorrow
- 84. Store of Value Trading time for time Today for tomorrow Tomorrow for today
- 85. Store of Value Trading time for time Today for tomorrow Tomorrow for today Earn - Save - Spend
- 88. When you have lines waiting to buy your product, you can do two things: make more, or raise prices
- 92. Prices
- 93. Prices Current
- 95. Inflation
- 96. Inflation Cause: Printing money faster than making goods and services
- 97. Inflation Cause: Printing money faster than making goods and services Effect: Rising prices
- 99. Quantity Theory of Money M = Money Supply
- 100. Quantity Theory of Money M = Money Supply v = velocity
- 101. Quantity Theory of Money M = Money Supply v = velocity P = Price Level
- 102. Quantity Theory of Money M = Money Supply v = velocity P = Price Level YR = Real GDP
- 103. v = velocity
- 104. v = velocity The average number of times a dollar is used to purchase final goods and services within a year
- 106. Mv = PYR
- 107. Mv = PYR Assume v andYR are constant
- 108. Mv = PYR Assume v andYR are constant M = P
- 110. M = P
- 111. M = P
- 112. M = P
- 113. M = P
- 114. M = P Inflation is everywhere and always a monetary phenomenon - Milton Friedman
- 116. Costs of Inflation
- 120. Costs of Inflation uncertainty illusion redistribution tax bracket creep
- 121. Redistribution
- 123. Redistribution public to government lenders to borrowers
- 124. Redistribution public to government lenders to borrowers
- 125. Redistribution
- 126. Redistribution nominal = real + inflation
- 127. Redistribution nominal = real + inflation
- 128. Redistribution nominal = real + inflation real can be negative
- 130. Aggregate Demand
- 135. AD-AS Model
- 136. AD-AS Model and
- 137. AD-AS Model and Mv = PYR
- 143. Supply
- 144. Supply
- 145. Supply No matter the price you can only produce so much
- 147. Supply
- 148. Supply
- 149. Supply a function of all of your capitals
- 151. Classical Model
- 156. Real GDP Growth Rate Price Level Adam Smith Classical Model
- 157. Real GDP Growth Rate Price Level AS Adam Smith Classical Model
- 158. AD Real GDP Growth Rate Price Level AS Adam Smith Classical Model
- 159. AD Real GDP Growth Rate Price Level AS Adam Smith Classical Model
- 160. AD Real GDP Growth Rate Price Level AS Adam Smith Classical Model
- 161. AD Real GDP Growth Rate Price Level AS Adam Smith Classical Model
- 162. AD Real GDP Growth Rate Price Level AS Adam Smith Classical Model
- 163. AD Real GDP Growth Rate Price Level AS Adam Smith Classical Model
- 164. AD Real GDP Growth Rate Price Level AS Adam Smith Classical Model
- 165. AD Real GDP Growth Rate Price Level AS Adam Smith Classical Model
- 166. AD 100 Price Level AS Adam Smith Classical Model Real GDP $6.50
- 167. AD 100 Price Level AS Adam Smith Classical Model Real GDP $6.50
- 168. AD 100 Price Level AS Adam Smith Classical Model Real GDP $6.50
- 169. AD 100 Price Level AS Adam Smith Classical Model Real GDP $6.50 $4.00
- 170. AD 100 Price Level AS Adam Smith Classical Model Real GDP $6.50 $4.00
- 171. AD 100 Price Level AS Adam Smith Classical Model Real GDP $6.50 $4.00
- 172. AD 100 Price Level AS Adam Smith Classical Model Real GDP $6.50 $4.00
- 173. AD 100 Price Level AS Adam Smith Classical Model Real GDP $6.50 $4.00
- 174. AD 100 Price Level AS Adam Smith Classical Model Real GDP $6.50 $4.00 50
- 175. AD 100 Price Level AS Adam Smith Classical Model Real GDP $6.50 $4.00 50
- 176. AD 100 Price Level AS Adam Smith Classical Model Recession Unemployment Real GDP $6.50 $4.00 50