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Textbook Notes for David T Knight

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UFECO 2013David T KnightSummer

ECO 2013 Chapter 10: Macro ch10 notes. What is GDP

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UFECO 2013David T KnightFall

ECO 2013 Chapter Notes - Chapter 10: Discount Window, Loanable Funds, Nothing Real

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Chapter 10: money, the price level, and in ation. Money: any commodity or token that is generally acceptable as a means of payments. Means of payment i
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UFECO 2013David T KnightFall

ECO 2013 Chapter Notes - Chapter 13: Aggregate Demand, Consumption Function, Root Mean Square

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Mpc and mps: mpc is the slope of the consumption function, mps is the slope of the saving function. Consumption expenditure minus imports: autonomous e
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UFECO 2013David T KnightFall

ECO 2013 Chapter Notes - Chapter 2: W. M. Keck Observatory, Opportunity Cost, Human Capital

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Def: the expansion of production possibilities aka: society"s productive capacity. Technological change-development of new goods and of better ways of
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UFECO 2013David T KnightFall

ECO 2013 Chapter Notes - Chapter 5: Deadweight Loss, Economic Surplus, Comparative Advantage

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How global markets work: comparative advantage drives international trade, if the world price of a good is lower than the domestic price: The domestic
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UFECO 2013David T KnightFall

ECO 2013 Chapter Notes - Chapter 14: Aggregate Supply, Law, Deficit Spending

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UFECO 2013David T KnightFall

ECO 2013 Chapter Notes - Chapter 6: Intermediate Good, Root Mean Square

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Gdp: gross domestic product, market value. Prices at which items are traded in markets: final goods and services. Final good is an item bought by its n
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UFECO 2013David T KnightFall

ECO 2013 Chapter Notes - Chapter 2: Opportunity Cost, Capital Accumulation, W. M. Keck Observatory

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UFECO 2013David T KnightFall

ECO 2013 Chapter Notes - Chapter 12: Aggregate Supply, Aggregate Demand, Potential Output

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Aggregate supply: the relationship between the quantity of real gdp supplied and the price level, long run aggregate supply. The relationship between t
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UFECO 2013David T KnightFall

ECO 2013 Chapter Notes - Chapter 9: Credit Risk, Disposable And Discretionary Income, Nominal Interest Rate

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Financial institutions and financial markets: finance and money. Finance: the activity of providing the funds that nance expenditures on capital. Money
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UFECO 2013David T KnightFall

ECO 2013 Chapter Notes - Chapter 8: Malthusianism, Human Capital, Paul Romer

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Economic growth: the expansion of production possibilities. Growth rate: the annual percentage change of a variable- the change in the level expressed
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UFECO 2013David T KnightFall

ECO 2013 Chapter Notes - Chapter 4: Production Quota

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