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Krugman AP Macroeconomics Module 17

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Module 17: Aggregate Demand -How the aggregate demand curve illustrates the relationship between the aggregate price level and the quantity of aggregate output demanded in the economy -How the wealth effect and interest rate effect explain the aggregate demand curve?s negative slope -What factors can shift the aggregate demand curve Aggregate Demand Curve: shows the relationship between the aggregate price level and the quantity of aggregate output demanded Downward sloping: wealth effect of a change in the aggregate price level and the interest rate effect of a change in the aggregate price level Negative relationship between the aggregate price level and the quantity of aggregate output demanded

Krugman AP Macroeconomics Module 16

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Module 16: Income and Expenditure -The nature of the multiplier, which shows how initial changes in spending lead to further changes -The meaning of the aggregate consumption function, which shows how current disposable income affects consumer spending -How expected future income and aggregate wealth affect consumer spending -The determinants of investment spending -Why investment spending is considered a leading indicator of the future state of the economy ? Assumptions: 1. We assume producers are willing to supply additional output at a fixed price causing changes in overall spending translate into changes in aggregate output 2. We take the interest rate as given 3. We assume that there is no government spending and no taxes

ch5 notes

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7/8/13 12:03 PM The ?original 13 colonies? is not true. Britain had 32 colonies, but the saying comes from the fact that those 13 colonies were the ones to rebel for independence against Britain Conquest by the Cradle Large populations was what the rebellious settlements shared Colonists were doubling their numbers every 25 years Average age of Americans was 16 A Mingling of the Races Many Germans fled to America because of religious persecution, economic oppression, and war Mostly in Pennsylvania The South held 90% of the African American population The variety of Europeans coming to America (Dutch, Swedes, Jews, Irish, etc) contributed to a new mixture of blood that is the present day American

ch4 notes

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The Unhealthy Chesapeake Disease cut off 10 years life expectancy for the early settlers in the Chesapeake Half the people born in Virginia and Maryland in its early years didn?t live t see their 20th bday Majority of early settlers were single men in their teens or early 20?s Men outnumbered women 6:1 Very few families Later gained an immunity to the diseases The Tobacco Economy Intense cultivation caused the soil to exhaust Caused demand for more land More Indian attacks Prices on tobacco dropped when it became more abundant (1.5 million pounds annually) Caused the need for more labor Indians died too quickly when near whites Blacks were too expensive Used indentured servants Frustrated Freemen and Bacon?s Rebellion

ch3 notes

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Settling the Northern Colonies North and south colonies were very different Different political views Patterns of settlement Economies Moral values Tobacco shaped the southern colonies, religious devotion shaped the northern colonies The Protestant Reformation Produces Puritanism Martin Luther unknowingly started the Protestant Reformation when he nailed his protests against catholic doctrines to the door of Wittenberg?s cathedral He believed that the Bible was God?s word alone

ch2 notes

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England?s Imperial Stirrings Religious conflict raised between Spain and England when England became primarily Protestant, while Spain was Catholic. Ireland sided with Spain (both catholic) to rid England of their Protestant queen England crushed the Irish uprising, sending Protestant Scottish and English landlords to take control of their land. This was the beginning of many conflicts between Irish and English Elizabeth Energizes England Queen Elizabeth encouraged her sailors to attack Spanish ships and take their plunder, to spread Protestantism. English?s first attempt at colonization was in Newfoundland. Failed because its promoter died at sea

ch1 notes

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Founding the New Nation Christopher Columbus wasn?t planning on finding America. Many of the orginal colonists were fleeing from religious persecution but continued to refer to themselves as Europeans. The 13 colonies were all very different from each other. (EX, Puritans lived in small family owned farms and were mostly democratic. Anglicans built huge plantations with slaves, and were pretentious towards the farmers) Colonists profited greatly from trade with Britain, which ended when the they were forced into the French & Indian War The Shaping of North America North America formed 10 million years ago, by breaking apart from the single landmass called Pangea Peopling the Americas

Tariffs to remember for apush exam

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U.S. History and Tariffs Tariff of 1816 ? designed to defend U.S. business from Britain ? created by nationalist Congress ? 20 to 25% tax on imports ? Calhoun supports Tariff to help Southern manufacturing ? Daniel Webster opposes tariff due to shipping priority over manufacturing Tariff of 1824 ? 35% tax on imports Tariff of 1828 ? The ?abominable? tariff angered South Carolinians ? majority southern ?nullies? tried to nullify it in South Carolina ? minority unionists blocked the ?nullies? Tariff of 1832 ? lessened some of the worst abominations of Tariff of 1828 ? reduced rate of 1828 tariff by 10% ? special state convention in South Carolina declares the tariff null in that state ? President Jackson opposes the ?nullies? and Calhoun.

Supreme Court Cases to remember for Apush exam

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SUPREME COURT CASES Marbury v. Madison (1803, Marshall). The court established its role as the arbiter of the constitutionality of federal laws, the principle is known as judicial review (see also Federalist Papers, 78). Fletcher v. Peck (1810, Marshall). The decision stems from the Yazoo land cases, 1803, and upholds the sanctity of contracts. McCulloch v. Maryland (1819, Marshall). The Court ruled that states cannot tax the federal government, i.e. the Bank of the United States; the phrase "the power to tax is the power to destroy"; confirmed the constitutionality of the Bank of the United States.

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