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Textbook Notes for Neerja Aggarwal

UC-IRVINEECON 20BNeerja AggarwalWinter

ECON 20B Chapter 23: Measuring a Nation’s Income, Ch. 23

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Gross domestic product (gdp) - gdp is used to measure total production in an economy (exact definition later) Example: suppose an economy produces only
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UC-IRVINEECON 20BNeerja AggarwalWinter

ECON 20B Chapter 26: Chapter 26

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Definition: finical institutions through which savers can directly provide funds to borrowers. Promises to repay the amount borrowed in future ; with p
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UC-IRVINEECON 20BNeerja AggarwalWinter

ECON 20B Chapter 28: Chapter 28

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UC-IRVINEECON 20BNeerja AggarwalWinter

ECON 20B Chapter 25: Chapter 25

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Productivity is the key determinant of living standards, and growth in productivity is a key determinant of growth in living standards. Labor productiv
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UC-IRVINEECON 20BNeerja AggarwalWinter

ECON 20B Chapter 24: Chapter 24

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Bls (bureau of labor statistics, department of labor) Price index which uses a fixed market basket of goods and services purchase by the typically cons
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