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Textbook Notes for Barbara Bloemhoff

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UWECON231Barbara BloemhoffFall

ECON231 Chapter 13: Chapter 13

OC24673642 Page
27 Dec 2019
0
Microeconomics: the branch of economics that studies the economic decisions of individuals and firms and how, by pursuing their own interests, individu
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UWECON231Barbara BloemhoffFall

ECON231 Chapter 17: Chapter 17

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27 Dec 2019
0
Aggregate demand: the amount of a country"s goods and services demanded by households, firms, and governments throughout the world. Includes four compo
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UWECON231Barbara BloemhoffFall

ECON231 Chapter 3: Chapter 3

OC24673643 Page
27 Dec 2019
0
Two reasons nations trade: (1) they are different from each other. (2) to achieve economies of scale in production. Opportunity cost: the amount of ano
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UWECON231Barbara BloemhoffFall

ECON231 Chapter 6: Chapter 6

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27 Dec 2019
0
Standard trade model: a standard (general) model of a trading world economy, of which many other models can be regarded as special cases. Terms of trad
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UWECON231Barbara BloemhoffFall

ECON231 Chapter 7: ECON231 Chapter : Chapter 7

OC24673641 Page
27 Dec 2019
0
Economies of scale: when production is more efficient the larger the scale at which it takes place. External economies of scale: when the cost per unit
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UWECON231Barbara BloemhoffFall

ECON231 Chapter Notes - Chapter 15: Foreign Exchange Market, Money Supply, Shortage

OC24673642 Page
27 Dec 2019
0
Characteristics of money: medium of exchange, unit of account, store of value. Money supply: the monetary aggregate the federal reserve calls m1; the t
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UWECON231Barbara BloemhoffFall

ECON231 Chapter 1: Chapter 1

OC24673641 Page
27 Dec 2019
0
Compliance with the world trade organization: the international capital market : the linkage of the capital markets of individual countries. Conflict a
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UWECON231Barbara BloemhoffFall

ECON231 Chapter Notes - Chapter 16: Fisher Hypothesis, Money Supply, Money Market

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27 Dec 2019
0
Purchasing power parity (ppp): theory that the exchange rate between two countries" currencies will equal the ratio of the countries" price levels. P u
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UWECON231Barbara BloemhoffFall

ECON231 Chapter 5: ECON231 Chapter : Chapter 5

OC24673642 Page
27 Dec 2019
0
Abundance of factors: the proportion in which different factors of production are available in a country. Factor intensity: the proportion in which fac
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UWECON231Barbara BloemhoffFall

ECON231 Chapter 8: ECON231 Chapter : Chapter 8

OC24673642 Page
27 Dec 2019
0
Internal economies of scale: cost per unit depends on the size of an individual firm. Two characteristics of firms in the real world: firms tend to pro
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UWECON231Barbara BloemhoffFall

ECON231 Chapter Notes - Chapter 14: Interbank, Economic Equilibrium

OC24673642 Page
27 Dec 2019
0
Exchange rate: the price of one currency in terms of another. Direct terms: stating the exchange rate as home currency unit per foreign currency unit.
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UWECON231Barbara BloemhoffFall

ECON231 Chapter 4: Chapter 4

OC24673642 Page
27 Dec 2019
0
Specific factors model: a model of international trade developed by paul samuelson and ronald jones that includes factors of production that can only b
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