Textbook Notes for Frank Miller

YORKECON 1010Frank MillerWinter

ECON 1010 Chapter Notes - Chapter 7: Human Capital Flight, Infant Industry Argument, Private Good

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27 Feb 2014
35
Large difference in income reflected in large differences in quality of life; richer countries have greater access to resources and better infrastructu
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YORKECON 1010Frank MillerWinter

ECON 1010 Chapter Notes - Chapter 6: Nominal Interest Rate, Real Interest Rate, Gdp Deflator

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27 Feb 2014
24
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YORKECON 1010Frank MillerWinter

ECON 1010 Chapter Notes - Chapter 5: Transfer Payment, Gdp Deflator, Gross Domestic Product

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27 Feb 2014
16
Microeconomics: study of how households and firms make decisions and interact in markets. Macroeconomics: study of economy-wide phenomena; includes inf
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YORKECON 1010Frank MillerWinter

ECON 1010 Chapter Notes - Chapter 8: Virtuous Circle And Vicious Circle, Demand Curve, Nominal Interest Rate

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27 Feb 2014
34
Financial system: consists of those intuitions in the economy that help to match one person"s savings with another person"s investments; made up of var
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YORKECON 1010Frank MillerWinter

ECON 1010 Chapter Notes - Chapter 10: Overnight Rate, Excess Reserves, Money Multiplier

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27 Feb 2014
22
Cash, cheque and debit cards represent a claim to goods and services in the future. Useful in complex and large societies to ease transactions. Barter:
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YORKECON 1010Frank MillerWinter

ECON 1010 Chapter Notes - Chapter 9: Efficiency Wage, Wags, Forb

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27 Feb 2014
26
Counties that save and invest high fraction of their income enjoy more rapid growth in capital stock and gdp. Natural rate of unemployment: refers to a
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YORKECON 1010Frank MillerWinter

ECON 1010 Chapter Notes - Chapter 11: Deadweight Loss, Menu Cost, Seigniorage

OC2148706 Page
27 Feb 2014
11
Inflation is more about the value of money than value of the goods. Rise in price level = lower value of money because each dollar now buys smaller qua
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