the multiplier process: definition of the multiplier, formulae for and calculation of multiplier in a closed and open economy, with and without a government sector, calculation of: average and marginal propensities to save (aps and mps), average and marginal propensities to consume (apc and mpc), average and marginal propensities to import (apm and mpm), average and marginal rates of tax (art and mrt), national income determination using AD and income approach with the multiplier process, calculation of effect of changing AD on national income using the multiplier

impact and incidence of specific indirect taxes

effects of shifts in demand and supply curves on equilibrium price and quantity