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Unformatted text preview: a. Capital i. Produced goods that produce other goods 1. More capital now a. Bigger shift next period b. Faster economic growth c. Rising living of standards 2. But… more capital now = less consumption b. Consumption i. Satisfy wants of consumers III. Shifts of PPF a. Change in resources or technology When both outputs are affected i. Change when only 1 good is affected...
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- Winter '09
- Economics, Statements, Philosophical terminology, Normative, Capital/ Consumption Tradeoff, Adv. omputers Computers