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Summary BUNDLE ECON 112 (econ112) Principles of Macroeconomics, ISBN: 9780073518992 ECON 112 (ECON112) Bundle $15.49   Add to cart

Summary

Summary BUNDLE ECON 112 (econ112) Principles of Macroeconomics, ISBN: 9780073518992 ECON 112 (ECON112) Bundle

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Summary ECON 112 (econ112): notes from students and slides from the teacher, provide practice and answers, with definition, glossary, explanation Bundle: Principles of Macroeconomics, ISBN: 8992 ECON 112 (ECON112)

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  • October 2, 2022
  • 63
  • 2022/2023
  • Summary
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Introduction

,Economics
— Studies the ways that humans and societies organize
themselves to make choices about the use of scarce
resources , which are used to produce the goods and
services necessary to satisfy human wants and needs

Scarce =
limited
↳ human wants / needs
which are used to produce goods 1 services

output
input

COmmc
?⃝

,Macroeconomic
3
goals
-
:




+ Economic growth
+
Price

, Production Possibilities Moder


to move along
Good 41 . In order we have

some
to

good Y
carfice
good ✗
get





cioodx
to the right , economic growth
Red line -

Shift
produce
more
more resources,





more
Eco growth → tech advance ,
✓ resources




resource ,
tech
don't have

e




→,





Good •



Y maximum output ( get the most production)





1-

E
Outside the curve -
it's not sustainable

Good ✗
doesn't last
long
Inside the curve -




unemployment
Un
efficient
unemployment

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