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Textbook Notes for ECO100Y1 at University of Toronto St. George (UTSG)

UTSGECO100Y1AllFall

Final Exam Guide - Everything you need to know! (124 pages long)

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Society"s resources must be managed because resources are scarce: the limited nature of resources is referred to as scarcity. The study of how society
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UTSGECO100Y1AllFall

[] - Final Exam Guide - Comprehensive Notes for the exam (128 pages long!)

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Education typically increases the workers" wages from a human-capital view because it increases productivity; alternatively, education could also signa
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UTSGECO100Y1James PesandoFall

ECO100Y1 Chapter Notes -Traffic Ticket, Sport Canada, Opportunity Cost

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The economic way of thinking (marginal analysis and opportunity cost) You are planning a trip to ottawa, which is 400 miles. Except for the cost, you a
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UTSGECO100Y1AllFall

Textbook Guide Economics: Frictional Unemployment, Current Population Survey (Us), Structural Unemployment

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Unemployment is divided into two problems: long-run unemployment and short-run unemployment. The natural rate of unemployment is the rate of unemployme
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UTSGECO100Y1Erik GundersonFall

Chapter 3

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 y = income after taxes and transfer payments.  e = labour market earnings = wages times hours worked. Demogrant: a lump-sum transfer allocated to th
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UTSGECO100Y1Erik GundersonFall

Chapter 2

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 if the market wage is less than the reservation wage  individual will not participate in labour force.  if the market wage exceeds the reservation
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UTSGECO100Y1AllFall

Textbook Guide Economics: Opportunity Cost, Scientific Method, Macroeconomics

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This model assumes there are only two type of decision makers: households and firms. Firms produce goods and services using inputs such as land, labor
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UTSGECO100Y1AllFall

Textbook Guide Economics: Nominal Interest Rate, Classical Dichotomy, Neutrality Of Money

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The supply and demand for money determines the price of money. The price of money is the interest rate. The above figure shows how the supply and deman
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UTSGECO100Y1AllFall

Textbook Guide Economics: Gdp Deflator, Gross Domestic Product, Macroeconomics

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UTSGECO100Y1AllFall

Textbook Guide Economics: Phillips Curve, Aggregate Supply, Aggregate Demand

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Phillips curve shows the inverse relationship between the rate of inflation and the rate of unemployment in an economy: by altering monetary and fiscal
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UTSGECO100Y1wwWinter

ECO100Y1 Chapter Notes - Chapter 1: Multiple Choice, Perfect Competition, Scantron Corporation

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While you wait for the exam to start, please ll in the information below and complete the front and back of the scantron form. Do not open this test bo
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UTSGECO100Y1AllFall

Textbook Guide Economics: Nominal Interest Rate, Real Interest Rate, Gdp Deflator

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States" cpi and producer price index (ppi), which measures the overall costs of the goods and services bought by the average firm as opposed to the con
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