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Study Guides for Gustavo Indart

UTSGECO100Y1Gustavo IndartSummer

ECO100Y1 Study Guide - Final Guide: Competitive Equilibrium, Aggregate Demand

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25
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UTSGECO100Y1Gustavo IndartSummer

ECO100Y1 Study Guide - Final Guide: Competitive Equilibrium, Aggregate Demand

OC1305442 Page
15
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UTSGECO100Y1Gustavo IndartSummer

ECO100Y1 Study Guide - Foreign Exchange Market, The Foreign Exchange, Canadian Dollar

OC1305446 Page
36
The exchange rate and the balance of payments. The balance of payments shows the record of all transactions of residents of canada with the rest of the
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UTSGECO100Y1Gustavo IndartSummer

ECO100Y1 Study Guide - Substitute Good, Indifference Curve, Inferior Good

OC1305446 Page
48
The derivation of demand and substitution and income effects. Demand is usually downward sloping and supply upward sloping. Intersection of demand and
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UTSGECO100Y1Gustavo IndartSummer

ECO100Y1 Study Guide - Aggregate Demand, Diminishing Returns

OC1305444 Page
12
An increase/decrease in the price level (p) shifts the ae curve downward/upward. This shift of the ae curve is due to the effect of changes in p on: co
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UTSGECO100Y1Gustavo IndartSummer

ECO100Y1 Study Guide - Equilibrium Point, Demand Curve, Complementary Good

OC1305445 Page
23
Demand is usually downward sloping and supply upward sloping. Intersection of demand and supply curves is the equilibrium point. Change in quantity dem
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UTSGECO100Y1Gustavo IndartSummer

ECO100Y1 Study Guide - Economic Surplus, Demand Curve

OC1305445 Page
25
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UTSGECO100Y1Gustavo IndartSummer

ECO100Y1 Study Guide - Gross Domestic Product, Net Domestic Product

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26
Gross domestic product (gdp): total value of final goods and services produced in the economy during a given period. Gdp is a flow of new products duri
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UTSGECO100Y1Gustavo IndartSummer

ECO100Y1 Study Guide - Allocative Efficiency, Pareto Efficiency, Economic Surplus

OC13054417 Page
24
For the firm: requires that the firm be producing its output at the lowest possible cost. For the industry: requires that all firms in the industry hav
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UTSGECO100Y1Gustavo IndartSummer

ECO100Y1 Study Guide - Competitive Equilibrium, Economic Equilibrium, Marginal Revenue

OC13054413 Page
19
Do not produce this unit and decrease production. When mr < mc, revenue from last unit produced < cost of last unit produced. Average revenue (ar): ar
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UTSGECO100Y1Gustavo IndartSummer

ECO100Y1 Study Guide - Fixed Cost, Marginal Product, Diminishing Returns

OC13054410 Page
15
Q = flow of output, l = flow of labour services, K = flow of capital services, changes in technology = changes in f. Tr = total revenue, tc = total cos
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UTSGECO100Y1Gustavo IndartSummer

ECO100Y1 Study Guide - Net Domestic Product

OC1305443 Page
12
Gross domestic product (gdp): total value of final goods and services produced in the economy during a given period. Gdp is a flow of new products duri
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