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 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