Economics 100B - 30 (5-3-2007)

Economics 100B - 30 (5-3-2007) - Economics 100B Professor...

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Economics 100B Professor Steven Wood 5/03/07 Lecture 30 ASUC Lecture Notes Online (formerly Black Lightning) is the only authorized note-taking service at UC Berkeley. Please do not share, copy or illegally distribute these notes. Our non-profit, student-run program depends on your individual subscription for its continued existence. These notes are copyrighted by the University of California and are for your personal use only. Sharing or copying these notes is illegal and could end note taking for this course LECTURE We are going to begin the class by filling out course evaluations. Then we will be covering a few more summary conclusions about macro and details about the final exam. On Tuesday I will share with you how I put together an economic forecast based on what information we have and the models we have worked on. In addition, we will do some old exam problems for review. Ask your GSIs what type of questions you want to see me go over. What We Know 1) In the long-run, a country’s standard of living is determined by its capacity to produce. Things like capital stock per worker, savings, and most importantly, technology help us raise the standard of living. Up until 1750, there was virtually no change in standard of living. It has only been growing in the last 250 years primarily due to technology. 2) In the short-run, changes in aggregate demand influence a country’s production and income (and therefore our short-term standard of living). 3)
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This note was uploaded on 09/20/2009 for the course ECON ECON taught by Professor Shomali during the Spring '04 term at University of California, Berkeley.

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Economics 100B - 30 (5-3-2007) - Economics 100B Professor...

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