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Textbook Notes for ECON 1002 at Carleton University

CARLETONECON 1002Eng Koo LimWinter

ECON 1002 Chapter 6: Key Ideas Summarized

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A measure of the overall cost of the goods and services bought by a typical consumer. The cpi is used to monitor changes in the cost of living over tim
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CARLETONECON 1002Eng Koo LimWinter

ECON 1002 Chapter 9: Key Ideas Summarized

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Problems of unemployment: long-run vs short-run problems. Natural rate of unemployment: refers to the amount of unemployment the economy normally exper
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CARLETONECON 1002Eng Koo LimWinter

ECON 1002 Chapter 5: Key Ideas Summarized

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Microeconomics: the study of how individuals and how firms make decisions and how they interact in markets. Look at the total income that everyone in t
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CARLETONECON 1002Eng Koo LimWinter

ECON 1002 Chapter Notes - Chapter 10: Market Liquidity, Commodity Money, Monetary Policy

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The set of assets in the economy. People use money to buy goods and services from other people. Medium of exchange: an item that buyers give to sellers
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CARLETONECON 1002Eng Koo LimWinter

ECON 1002 Chapter 7: Key Ideas Summarized

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CARLETONECON 1002Eng Koo LimWinter

ECON 1002 Chapter 8: Key Ideas Summarized

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Chapter 8: saving, investment, and the financial system. Group of institutions in the economy that help to match one person"s savings with another pers
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