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Textbook Notes for Birchenall

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UCSBECON 2BirchenallSpring

ECON 2 Chapter Notes - Chapter 17: Loanable Funds, Menu Cost, Fallacy

OC3217924 Page
6 Sep 2016
6
Rely on theory to explain long-run determinants of the price level and the inflation rate. 17. 1a the level of prices and the value of money. Inflation
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UCSBECON 2BirchenallSpring

ECON 2 Chapter Notes - Chapter 20: Financial Institution, Nominal Rigidity, Investment Banking

OC3217924 Page
6 Sep 2016
1
20. 1a fact 1: economic fluctuations are irregular and unpredictable. Economic fluctuations correspond to changes in business conditions. Real gdp grow
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UCSBECON 2BirchenallSpring

ECON 2 Chapter Notes - Chapter 11: Nominal Interest Rate, Real Interest Rate, Gdp Deflator

OC3217922 Page
6 Sep 2016
0
11. 1 the consumer price index consumer price index (cpi) is used to monitor changes in the cost of living over time inflation: economy"s overall price
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UCSBECON 2BirchenallSpring

ECON 2 Chapter Notes - Chapter 14: Fundamental Analysis, Risk Aversion, Standard Deviation

OC3217922 Page
6 Sep 2016
12
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UCSBECON 2BirchenallSpring

ECON 2 Chapter Notes - Chapter 16: Federal Reserve Note, Open Market Operation, Discount Window

OC3217927 Page
6 Sep 2016
0
Money: set of assets in the economy that people regularly use to buy goods and services from each other. Regularly accepted by sellers in exchange for
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UCSBECON 2BirchenallSpring

ECON 2 Chapter Notes - Chapter 1: Market Power, Business Cycle, Market Failure

OC3217921 Page
6 Sep 2016
0
Economics: the study of how society manages its scarce resources. Efficiency: the property of society getting the most it can from its scarce resources
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UCSBECON 2BirchenallSpring

ECON 2 Chapter Notes - Chapter 10: Gdp Deflator, Net National Product, Transfer Payment

OC3217922 Page
6 Sep 2016
1
For an economy as a whole, income must equal expenditure. Economy"s income is the same as its expenditure because every transaction has two parties: a
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UCSBECON 2BirchenallSpring

ECON 2 Chapter Notes - Chapter 4: Economic Equilibrium, Demand Curve, Perfect Competition

OC3217922 Page
6 Sep 2016
2
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UCSBECON 2BirchenallSpring

ECON 2 Chapter Notes - Chapter 12: Capital Accumulation, Externality, International Trade

OC3217924 Page
6 Sep 2016
0
12. 1 economic growth around the world growth rate measures how rapidly real gdp per person grew in the typical year. Because of differences in growth
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UCSBECON 2BirchenallSpring

ECON 2 Chapter Notes - Chapter 13: Loanable Funds, Government Budget Balance, Nominal Interest Rate

OC3217924 Page
6 Sep 2016
1
Financial system moves the economy"s scarce resources from savers (people who spend less than they earn) to borrowers (people who spend more than they
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UCSBECON 2BirchenallSpring

ECON 2 Chapter Notes - Chapter 15: Absenteeism, Efficiency Wage, Market Power

OC3217923 Page
6 Sep 2016
0
Bureau of labor statistics (bls), which is part of the department of labor. Current population survey - regular survey of about 60,000 households. 3. h
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