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Textbook Notes for Economics at University of Arizona (U OF A)


U OF AECON 200Steven ReffFall

ECON 200 Chapter Notes - Chapter qd: Demand Curve

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The word widget, is a make-believe product, and been used to describe products in economics since it was rst introduced in a 1924 play called beggar on
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U OF AECON 200Steven ReffFall

ECON 200 Chapter Notes - Chapter gdp: Multinational Corporation, Business Cycle, Microeconomics

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U OF AECON 200Steven ReffFall

ECON 200 Chapter Notes - Chapter inflation: Weighted Arithmetic Mean

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In ation and price level (de nitions, demand pull, cost push, cost/bene ts of in ation) The term in ation is a rise in the general level of prices, as
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U OF AECON 200Steven ReffFall

ECON 200 Chapter Notes - Chapter recession: Freddie Mac, Pork Barrel, Unemployment Benefits

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The economics of the great recession: part 1. Adjustable-rate and interest only mortgages accounted for nearly two-thirds of new loans in the second ha
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U OF AECON 200Steven ReffFall

ECON 200 Chapter Notes - Chapter flexible: Marginal Revenue Productivity Theory Of Wages, Phillips Curve, Nominal Rigidity

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If aggregate demand increases, then there is an increase in price level, but no increase in output or real gdp. With perfectly exible wages and prices,
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U OF AECON 200Steven ReffFall

ECON 200 Chapter Notes - Chapter s and p: Trade Barrier, Demand Curve, Root Mean Square

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Supply and demand model is primarily a microeconomics model. Supply and demand graph is used to analyze the effect of a changing variable on price and
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U OF AECON 200Steven ReffFall

ECON 200 Chapter Notes - Chapter d: Economic Equilibrium, Demand Curve, Normal Good

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Only one variable changes quantity demanded and that is price. Price changes qd, p does not change d! In reality, demand is a whole bunch of quantity d
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U OF AECON 200Steven ReffFall

ECON 200 Chapter Notes - Chapter full: Unpaid Work, Aggregate Demand, Longrun

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U. s. population includes both legal and illegal immigration. Total resident population of the us is 300,000,000 individuals. The labor force is the to
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U OF AECON 200Steven ReffFall

ECON 200 Chapter Notes - Chapter cost: Perfect Competition, Fixed Cost, Takers

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Cost lesson 1: cost of production: part 1. To maximize pro ts, a business can try to increase revenue, decrease costs, or do a mixture of both. Three t
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U OF AECON 200Steven ReffFall

ECON 200 Chapter Notes - Chapter monopoly: Economic Surplus, Marginal Revenue, Natural Monopoly

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U OF AECON 200Steven ReffFall

ECON 200 Chapter Notes - Chapter PP curve: Potential Output, Opportunity Cost, Comparative Advantage

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The production- possibilities curve/frontier describes the concept of opportunity cost at several levels. When you are at full potential you are produc
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