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ECON 2K03 (28)
Lecture

Econ 2k03 10.docx

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Department
Economics
Course
ECON 2K03
Professor
Hannah Holmes
Semester
Winter

Description
The national Policy years to 1913 Service Sector In general, • 1. In some cases, output is intended mainly for use by households • ex: personal banking… income elastic • 2. In some cases, output is an intermediate good • ex: freight transportation… from business to retailer • 3. Some services are produced privately, some privately with substantial government involvement and some directly by government • 4. Some services are non-tradable (like haircuts) and some are tradable (like financial services to businesses). Banking and Finance • 1. Financial intermediation – transfer of funds from savers to borrowers – banks and
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