Engineering Economics

Part IV. Define and illustrate the following macro-economic themes. Using Charts / formula and real life examples (if applicable) to show your understanding. (27 Points)

1.Gross Domestic Product (GDP)

2.Balance of Trade

6.Fisher Effect

4.Define monetary policy and list and describe the four basic tools

5.Business cycle

3.Federal Reserve Board (The Fed)

7.Phillip Curve



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