ECON 1103 Lecture Notes - Lecture 5: Property Income, Wave Equation, Business Cycle
21 Feb 2018
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Macroeconomics the study of the determination of economic aggregates and trends in the economy as a whole. Diminishment in the values of a nation"s currency. I2 slope/size/magnitude/direction of the relationship between y and c. I1 slope/size/magnitude/direction of the relationship between y & g. Fluctuations of national income around its trend value that follow a wave-like pattern. Y = 3 cos x + 4 sin x (don"t need to know this) When we head over to the peak and toward the trough, we are headed into a recession. We cross through the trough and head back up to the peak, it is called recovery. Variable something that varies or is prone to variation, a quantity capable of assuming any of a set of values, a symbol representing such a quantity. Parameter a value denoting the relationship between two variables and the magnitude of that relationship.
