CPA Review BEC - Becker B2

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Anonymous
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89029
Filename:
CPA Review BEC - Becker B2
Updated:
2011-06-04 01:12:42
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CPA Becker BEC B2
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Description:
Becker CPA Review BEC - B2 Economic Concepts
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  1. Trough
    • Economic Lowpoint
    • Unused Productive Capacity
    • Unwillingness to Risk New Investments
  2. Recession
    Potential output exceeds actual output
  3. Left Shift =
    Decrease
  4. Right Shift =
    Increase
  5. AD =
    GDP : P
  6. AD =
    GDP : P
  7. SRAS =
    GDP : P
  8. SRAS =
    GDP : P
  9. Wealth Factor
    AD - Favorable
  10. Interest Rate Factor
    AD - Adverse
  11. Confidence Level Factor
    AD - Favorable
  12. Exchange Rate Factor
    AD - Adverse
  13. Government Expenditure Factor
    AD - Favorable
  14. Tax Factor
    AD - Adverse
  15. Input Cost Factor
    SRAS - Adverse
  16. Supply Factor
    SRAS - Favorable
  17. Economic Fluctuations
    Fluctuations in the level of economic activity relative to a long-term growth trend
  18. Peak
    • Highest Point of Economic Activity
    • Firms face Capacity Constraints & Labor Shortages
    • Upward Pressure put on Overall Price Level
  19. Real GDP per Capita
    Measures standard of living across countries or time
  20. Frictional Unemployment
    Unions, Temporary Layoffs, Timing Delay in Job Matching
  21. Structural Unemployment
    Jobs Available do not equal Skilled Workers
  22. Seasonal Unemployment
    Jobs are Seasonal
  23. Cyclical Unemployment
    Results from Recessions
  24. GDP Calculation - Expenditure Approach
    • Government Expenditures +
    • Investments (Private Domestic) +
    • Consumption Expenditures +
    • Exports (Net of Imports)
  25. Stagflation
    • Recession characterized by:
    • -Falling Output
    • -Rising Unemployment
    • -Rising Price Level
  26. Measure of Globalization
    World Trade Growth as a % of GDP
  27. Increased Globalization Factors
    • Reduced Transportation
    • Technilogical Advancements
    • Deregulation of International Financial Markets
  28. Sourcing Requirements
    Consists of value-added limits on the percentage of labor or materials on imported products
  29. Functional Interdependance
    Participation of nations in world trade institutions
  30. Systematic Interdependance
    All members of global community share planet

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