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macroeconomics - Chapter Chapter 2 Study Suggestions Before...

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Page 1 of 1 Chapter Chapter 2 Study Suggestions Study Suggestions Study Suggestions Before lecture on Friday, August 26: Read pages 36-57 of the textbook. Note the definitions of all of the following terms: scarcity, production possibilities frontier (PPF), opportunity cost, economic growth, trade, absolute advantage, comparative advantage, market, product markets, factor markets, factors of production, circular-flow diagram, free market, entrepreneur, & property rights. After lecture on Friday, September 2: Re-read pages 36-57 of the textbook. Read pages 25-30 of the study guide. Do Multiple-Choice Questions 1-18, 20-39, 43-45, 48, & 49 in the study guide. NOTE: The answer to #18 is c, not a. Do Short Answer Questions 2 & 3 in the study guide.
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