Created by ellie kwok
over 6 years ago
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What is recession?
What is GDP ?
Why sometimes firm's contribution is smaller than the its sales revenue?
Nominal GDP VS real GDP
What are the limitations of national income statistics?
What is Labor force?
Then what is non labor force?
Costs of unemployment
Price index- Consumer price index (CPI)
and GDP deflator
What are the uses of the price indices?
Why CPI tends to overestimate the effect of rising price on the cost of living?
Difference between CPI and GDP deflator
Principles of taxation (Good tax system)
Other principles considered by HK Govt
Difference between
direct tax and indirect tax
How to calculate tax rate?
The three types of tax
Effect 1; Increase in tax allowance on income inequality
Effect 2; tax rebates to tax-payers on income inequality
Effect 3; Widen marginal tax bands on income inequality
Effect 4; Decrease marginal tax rate of each tax bands on income inequality
Effect 5; Impose general sales tax on income inequality
Effect 6; decrease standard tax rate on income inequality
What is money?
What is barter economy?
List out all functions of money
What are the properties of a good form of money?
What are the types of deposits in HK?
The types of banks
What are the characteristics of central bank?
Commercial banks-3 tier banking system in HK
What is the fractional reserve system?
Important formulas
Why banks keep excess reserve?
What is fully loaned up?
Assumptions of credit creation
Steps on money creation
Steps on money contraction
What is money balance?
What is money demand?
What is Money transaction (Mt)?
What is Money asset (Ma)?
Compare bonds/other non-money asset and money
Factors affecting Mt
Factors affecting Ma
How central bank affect M0 and banking multiplier?
What is inflation?
What is deflation?
What is disinflation?
How to measure inflation or deflation?
Formula for nominal interest rate
What is the cost of holding bond?
What is the cost of holding money?
What is the redistributive effects on inflation?
1.1 Fully anticipated inflation
1.2 Unanticipated inflation
1.3 Unanticipated/ Under-anticipated inflation
** actual inflation rate is greater than the anticipated inflation rate
In general, who will gain when redistribute income from public to govt?
The Quantity Theory of Money (QTM)
*** points out that a continuous increase in MS will result in inflation
Exchange rate and BOP