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UOTTAWAECO 1102AllFall

ECO 1102 Chapter Notes - Chapter 11: Memory Stick, Nominal Interest Rate, Fisher Hypothesis

B5 Page
6 Feb 2017
2
E(cid:448)e(cid:374) if people do(cid:374)"t like i(cid:374)flatio(cid:374), its i(cid:373)porta(cid:374)t to ha(cid:448)e it so the e(cid:272)o(cid:37
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UOTTAWAECO 1102AllFall

ECO 1102 Chapter Notes - Chapter 6: Gdp Deflator, Interest Rate, Nominal Interest Rate

B3 Page
16 Jan 2017
7
Chapter 6 - measuring the cost of living. Nearly all goods and services have increased over time, so have people"s income. The consumer price index is
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UOTTAWAECO 1102AllFall

ECO 1102 Chapter Notes - Chapter 12: Tim Hortons, Open Economy, Real Interest Rate

B2 Page
16 Jan 2017
2
Chapter 12 - the macroeconomics of open economies. Closed economy - an economy that does not interact with other economies in the world. Open economy -
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UOTTAWAECO 1102AllFall

ECO 1102 Chapter Notes - Chapter 8: Credit Risk, Government Budget Balance, Real Interest Rate

B3 Page
16 Jan 2017
5
Chapter 8 - saving, investment, and financial system. Financial system - the group of institutions in the economy that help match one person"s saving w
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UOTTAWAECO 1102AllFall

ECO 1102 Chapter Notes - Chapter 9: Market Power, Efficiency Wage, Labour Force Survey

B4 Page
16 Jan 2017
4
Chapter 9 - unemployment and its natural rate. When a country keeps its workers as fully employed as possible, it achieves a higher level of gdp. The n
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UOTTAWAECO 1102AllFall

ECO 1102 Chapter Notes - Chapter 10: Canada Act 1982, Money Creation, Money Multiplier

B5 Page
16 Jan 2017
4
You pay for a service or good, that someone else offers. Using money for transactions is extraordinarily useful in a large, complex society. Money - it
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UOTTAWAECO 1102AllFall

ECO 1102 Chapter Notes - Chapter 5: Intermediate Good, Gdp Deflator, Time 100

B3 Page
16 Jan 2017
8
In some years firms throughout the economy are expanding their production of goods and services, employment is rising, and jobs are easier to find. In
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UOTTAWAECO 1102AllFall

ECO 1102 Chapter Notes - Chapter 1: Opportunity Cost, Business Cycle

B2 Page
16 Jan 2017
5
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UOTTAWAECO 1102AllFall

ECO 1102 Chapter Notes - Chapter 2: Scientific Method, Comparative Advantage, Positive Statement

B3 Page
16 Jan 2017
1
Every field has its own language, and its won way of thinking. Economists talk about supply and demand, elasticity, comparative advantage, consumer sur
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UOTTAWAECO 1102AllFall

ECO 1102 Chapter Notes - Chapter 14: Stagflation, Macroeconomics, Business Cycle

B2 Page
16 Jan 2017
3
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UOTTAWAECO 1102AllFall

ECO 1102 Chapter Notes - Chapter 7: Robert Fogel, High Standard Manufacturing Company, Diminishing Returns

B4 Page
16 Jan 2017
1
Standards of living (or income per person) among countries vary tremendously: at a point in time and are reflected in large differences in the quality
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UOTTAWAECO 1102AllFall

ECO 1102 Chapter Notes - Chapter 6: Money Supply, Gdp Deflator, Nominal Interest Rate

OC2795857 Page
9 Jun 2014
24
Inflation refers to a situation in which the economy"s overall price level is rising. The inflation rate is the percentage change in the price level fr
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