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Class Notes for ECON 2006 at Virginia Polytechnic Institute and State University (VT)

VIRGINIA TECHECON 2006Ghadir AsadiFall

ECON 2006 Lecture Notes - Lecture 16: Price Level, Seigniorage, Nominal Interest Rate

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26 Nov 2018
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In the short run: an increase in the money supply increases real gdp by lowering the interest rate and stimulating investment spending and consumer spe
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VIRGINIA TECHECON 2006Ghadir AsadiFall

ECON 2006 Lecture Notes - Lecture 2: Physical Capital, Human Capital, Corn Laws

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29 Aug 2018
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VIRGINIA TECHECON 2006Ghadir AsadiFall

ECON 2006 Lecture Notes - Lecture 1: Starbucks, Comparative Advantage, Tax Refund

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27 Aug 2018
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Economics: the study of how people allocate their limited resources to satisfy their nearly unlimited wants, the study of how people make decisions. Lo
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VIRGINIA TECHECON 2006Ghadir AsadiFall

ECON 2006 Lecture Notes - Lecture 13: Aggregate Demand, Government Spending, Government Debt

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6 Nov 2018
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If it is, a fiscal expansion will lead to higher incomes, which lead to increased savings. Recovery act of 2009 was a case in point: despite high level
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VIRGINIA TECHECON 2006Ghadir AsadiFall

ECON 2006 Lecture Notes - Lecture 11: Consumption Function, Business Cycle

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31 Oct 2018
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The multiplier effect: each increase in aggregate spending raises both real gdp and disposable income by and causes people to spend money. Consumer s
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VIRGINIA TECHECON 2006Ghadir AsadiFall

ECON 2006 Lecture Notes - Lecture 10: Government Budget Balance, Loanable Funds, Nominal Interest Rate

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31 Oct 2018
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VIRGINIA TECHECON 2006Ghadir AsadiFall

ECON 2006 Lecture Notes - Lecture 9: Potential Output, Longrun, Tax Credit

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30 Oct 2018
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3% per year: beginning in mid-1970s, all of these nations saw their growth rates slip. The sources of long-run growth: the crucial importance of produc
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VIRGINIA TECHECON 2006Ghadir AsadiFall

ECON 2006 Lecture Notes - Lecture 8: Temporary Work, Efficiency Wage, Potential Output

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8 Oct 2018
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Defining unemployment: unemployment rate the percent of the total number of people in the labor force who are unemployed. Labor force all workers, empl
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VIRGINIA TECHECON 2006Ghadir AsadiFall

ECON 2006 Lecture Notes - Lecture 7: Barometer, Producer Price Index, Transfer Payment

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17 Sep 2018
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Imports goods and services purchased from other countries. Inventories stocks of goods and raw materials held to facilitate business operations. Invest
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VIRGINIA TECHECON 2006Ghadir AsadiFall

ECON 2006 Lecture Notes - Lecture 4: Deadweight Loss, Price Controls, Economic Equilibrium

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7 Sep 2018
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Interference in markets has consequences: distorted price signals cause resources to be misallocated. If prices are distorted, they cannot give good in
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VIRGINIA TECHECON 2006Ghadir AsadiFall

ECON 2006 Lecture Notes - Lecture 14: Commodity Money, Bank Reserves, Money Supply

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6 Nov 2018
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VIRGINIA TECHECON 2006Ghadir AsadiFall

ECON 2006 Lecture Notes - Lecture 3: Economic Equilibrium, Demand Curve, Inferior Good

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5 Sep 2018
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