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Textbook Notes for Maharukh Bhiladwall

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NYUECON-UA 1Maharukh BhiladwallSpring

ECON-UA 1 Chapter Notes - Chapter 6: Opportunity Cost, Business Cycle, Macroeconomics

OC13264131 Page
21 Nov 2016
2
Unemployment: one who is able and willing to work, and actively looking for a job, but is jobless. Microeconomic: frictional (between jobs), seasonal (
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NYUECON-UA 1Maharukh BhiladwallSpring

ECON-UA 1 Chapter Notes - Chapter 7: Absolute Advantage, Market Basket, Weighted Arithmetic Mean

OC13264132 Page
21 Nov 2016
3
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NYUECON-UA 1Maharukh BhiladwallSpring

ECON-UA 1 Chapter Notes - Chapter 8: Diminishing Returns, Potential Output

OC13264131 Page
21 Nov 2016
2
In the classical view, deviations from the trend (potential gdp) are seen as temporary; the economy will return to the trend line in a couple of years.
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