ECO 316 Study Guide - Winter 2018, Comprehensive Midterm Notes - Yugoslavia, World War I, Winston Churchill
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Holland: railroads began spreading the industrialization, access to larger markets, financial innovations: joint stock investment banks started in germany. If x=m, then gold flow is equal, imbalance of trade is necessary to make money off of trade, x>m = net gold inflow = increase in the money supply = Wwi, reduced german territory and population by 10%, reduces german army to under. Input output frame: table the includes every industry and firm producing in the economy, A =amount steel needed to satisfy the needs of auto industry. B = how much wheat must be produced to satisfy vodka industry. C = steel needed to satisfy the vodka industry. Rent control instituted: keep rents affordable to working class, not fixed price, relationship between rent and amount available = higher the rent the lower the available, shortage of rent occurs with rent control laws,
