Lecture Note # 1 Measuring the Key Economic Indicators Microeconomics: Looks at how individual economic agents (i.e. consumers/households and producers/firms) make their day-to-day decisions. Macroeconomics: Looks at the overall behavior of the entire economy of a country. So in addition to households and firms‚ it also looks at the government and frequently at the rest of the world. The four target variables that all macroeconomists are concerned about are: (1) Gross Domestic Product (GDP):
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dedication and operational excellence they have became a highly recognized coffee retailer we have today. The 21st century is undoubtly an era of boundless opportunities and revolution far beyond any period of human establishment. In order for a business to fully utilize its
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ECON 3410 MONEY AND BANKING ACTIVITY 2 - ORAL PRESENTATION DUE: 18 NOV 2014 Monitoring Yield Curve Adjustments As an analyst of a bond rating agency‚ you have been asked to interpret the implications of the recent shift in the yield curve. Six months ago‚ the yield curve exhibited a slight downward slope. Over the last six months‚ long-term yields declined while short-term yields remained the same. Analysts said that the shift was due to revised expectations of interest rates. a. Given the shift
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Microeconomics 201 First Midterm Chapter 1 Introduction: What Is Economics? 1.1 What Is Economics? 1) Which of the following is n o t a factor of production? A) money B) human capital C) physical capital D) labor Answer: A 2) An arrangement that allows buyers and sellers to exchange things is called: A) a contract. B) money. C) efficient. D) a market. Answer: D 3) Economics is best defined as the study of: A) financial decision‑making. B) how consumers make purchasing decisions
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ELEMENTS OF ECONOMICS (3RD EDITION) BOOK I. Compiled by J. Linn 1 Economics is the study of allocation of scarce resources among wants that exceed those resources 2 A good is scarce if the amount demanded exceeds the amount supplied at a zero price. 3 Resources are inputs used to produce goods and services. 4 Human rational self-interest is assumed. 5 Economics is a science‚ and employs the scientific method. 6 Theory is a set of testable hypotheses that explain observed
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Chapter 20 Measuring GDP and Economic Growth Gross Domestic Product • • • • • GDP or Gross domestic product is the market value of all the final goods and services produced within a country in a given time period. A final good (or service) is an item that is bought by its final user during a specified time period. An intermediate good (or service) is an item that is produced by one firm‚ bought by another firm‚ and used as a component of a final good or service. Study Figure 20.1 on p. 469 of your
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survey to calculate the unemployment rate and the labor force participation rate. Chapter 21 The U.S. economy has experienced both long-run economic growth and the business cycle. Long-Run Economic Growth Labor productivity Potential GDP Saving vs. investment Financial System Loanable funds Real interest rate Business cycle Recession The Great Depression
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American InterContinental University Unit 2 Individual Project Circular Flow In the textbook‚ there are two circular flow diagrams. One represents the flows in the macro-economy as a closed system and the other represents the flows as an open system. The circular flow diagrams show how money travels through the economic systems including businesses‚ households‚ foreign agents and governments (Editorial Board‚ 2013). Within the closed and open systems there are two consumers. The first consumers
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Business School School of Economics ECON 2101 Microeconomics 2 Course Outline Semester 1‚ 2015 Part A: Course-Specific Information Students are also expected to have read and be familiar with Part B Supplement to All Course Outlines. This contains Policies on Student Responsibilities and Support‚ Including Special Consideration‚ Plagiarism and Key Dates. It also contains the Business School PROGRAM LEARNING GOALS. business.unsw.edu.au CRICOS Code 00098G Table of Contents 1 STAFF CONTACT
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University of British Columbia Econ 451 Assignment 1 Instructor: Alfred Kong Due date: 29th September 2011 The assignment is due at the beginning of the class. Late assignment will not be accepted. You may work in a group of up to 5 people. Question 1 A new health minister proposes to distribute an apple a day for free to every citizen. To be effective the legislation states that the free apples may not be traded or sold. Explain why this “no trade” policy would be inefficient.
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