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Unformatted text preview: Point Under curve: most inefficient point. Point Over curve: unattainable All points on the curve are efficient. MicroEcon: the study of how households and firms make decisions. MacroEcon: The study of economy wide phenomena, including inflations, GDP, unemployment. Positive Statement: Describe the world as it is, a fact. Descriptive Normative Statement: describe the world as it should be. Prescriptive Chapter 3...
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This note was uploaded on 04/05/2011 for the course ACC 211 taught by Professor Seargent during the Spring '09 term at Grand Valley State.
- Spring '09
- Managerial Accounting