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Textbook Notes for Edward Cho

U OF MECON 102Edward ChoFall

ECON 102 Chapter Notes - Chapter 4: Peanut Butter, Demand Curve, Monopolistic Competition

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Demand: quantity (q) demanded: the number of a particular good that buyers are willing and able to purchase. The amount of quantity demanded depends on
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U OF MECON 102Edward ChoWinter

ECON 102 Chapter Notes - Chapter 22: Phillips Curve, Aggregate Supply, Aggregate Demand

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U OF MECON 102Edward ChoWinter

ECON 102 Chapter Notes - Chapter 18: Open Economy, Autarky, Gdp Deflator

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U OF MECON 102Edward ChoWinter

ECON 102 Chapter Notes - Chapter 12: Foreign Portfolio Investment, Opportunity Cost, Capital Accumulation

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Living standards vary so much around the world because of productivity. Human capital refers to the resources expended transmitting this understanding
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U OF MECON 102Edward ChoWinter

ECON 102 Chapter Notes - Chapter 13: Government Budget Balance, Loanable Funds, Tax Credit

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U OF MECON 102Edward ChoWinter

ECON 102 Chapter Notes - Chapter 16: Market Liquidity, Commodity Money, Barter

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16-1 the meaning of money: money: the set of assets in the economy that people regularly use to buy goods and services from each other, ex. Stocks are
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U OF MECON 102Edward ChoWinter

ECON 102 Chapter Notes - Chapter 19: Import Quota, Money Supply, Capital Flight

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Supply and demand for loanable funds and for foreign- Currency exchange: loanable funds market: coordinates the e(cid:272)o(cid:374)o(cid:373)y"s sa(ci
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U OF MECON 102Edward ChoWinter

ECON 102 Chapter 11: Chapter 11

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Inflation rate is the percent change in the price level from the previous period. 11-1 the consumer price index the consumer price index (cpi): a measu
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U OF MECON 102Edward ChoWinter

ECON 102 Chapter Notes - Chapter 10: Gdp Deflator, Microeconomics, Seasonal Adjustment

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In a given period of time: gdp measures the value of production that takes place within a specific interval of time, measures a country"s flow of incom
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U OF MECON 102Edward ChoWinter

ECON 102 Chapter Notes - Chapter 21: Nominal Interest Rate, Real Interest Rate, Aggregate Demand

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Ho(cid:449) the go(cid:448)e(cid:396)(cid:374)(cid:373)e(cid:374)t"s poli(cid:272)(cid:455) tools i(cid:374)flue(cid:374)(cid:272)e the positio(cid:374
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U OF MECON 102Edward ChoWinter

ECON 102 Chapter Notes - Chapter 17: Income Tax, Gdp Deflator, Relative Price

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U OF MECON 102Edward ChoWinter

ECON 102 Chapter Notes - Chapter 20: Tax Credit, Foreign Exchange Market, Human Capital

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