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Textbook Notes for Economics at Northern Illinois University (NIU)

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NIUECON 261UnknownSpring

ECON 261 Chapter Notes - Chapter 13: Credit Risk, Autarky, Mutual Fund

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Chapter 13: saving, investment, and the financial system. Financial intermediaries= financial institutions through which savers can indirectly provide
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NIUECON 261UnknownSpring

ECON 261 Chapter Notes - Chapter 3: Absolute Advantage, Comparative Advantage, Opportunity Cost

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NIUECON 261UnknownSpring

ECON 261 Chapter Notes - Chapter 5: Demand Curve

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NIUECON 261UnknownSpring

ECON 261 Chapter Notes - Chapter 4: Demand Curve, Perfect Competition, Inferior Good

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NIUECON 261UnknownSpring

ECON 261 Chapter Notes - Chapter 17: Classical Dichotomy, Economic Equilibrium, Money Supply

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NIUECON 261UnknownSpring

ECON 261 Chapter Notes - Chapter 20: Classical Dichotomy, Aggregate Supply, Neutrality Of Money

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Three key facts about economic fluctuations: fact 1: economic fluctuations are irregular and unpredictable, fluctuations in the economy are often calle
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NIUECON 261UnknownSpring

ECON 261 Chapter Notes - Chapter 12: Human Capital, High Standard Manufacturing Company, Investment Goods

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Y = real gdp = quantity of output produced. Improving the health and education of the workforce will improve human capital per worker: an important fea
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NIUECON 261UnknownSpring

ECON 261 Chapter Notes - Chapter 10: Final Good, Intermediate Good, Seasonal Adjustment

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Usually, that interval is a year or a quarter (three months): when the government reports the gdp for a quarter, it usually represents gdp. The unadjus
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NIUECON 260UnknownFall

ECON 260 Chapter Notes - Chapter 6: Price Ceiling, Price Floor, Economic Equilibrium

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NIUECON 260UnknownFall

ECON 260 Chapter Notes - Chapter 4: Perfect Competition, Demand Curve, Takers

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NIUECON 261UnknownSpring

ECON 261 Chapter Notes - Chapter 6: Price Ceiling, Price Floor, Economic Equilibrium

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In this case, because the price that balances supply and demand () is below the ceiling, the price ceiling is not binding. Market forces naturally move
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NIUECON 261UnknownSpring

ECON 261 Chapter Notes - Chapter 2: Political Philosophy

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