A Productivity curve is a representation of how real GDP per person changes when changes
occur in capital. Human capital expansion and new technological advancements both affect
movement of the productivity curve and how it shifts. Human cap
Discussion 1: Circular Flow of Energy- Firms and Households
Firms and households interact between 2 markets: goods and factor markets. In theory,
markets are where networks of buyers and sellers conduct business. Households determine the
amount of labor,
Discussion 4a: Job Rationing
Job rationing is one of the major causes of unemployment. When the real wage rate exceeds the
full-employment balance, there is a rationing or allocation of scarce jobs in the labor market
because there is a surplus of labor.
Discussion 2b (2/20)
When the increase in supply leads to lower prices, the cause is derived from a surplus of
production. This most commonly occurs then the demand and supply change in reverse direction
when demand decreases and supply increases. The ini
Some of the main factors that will change any supply of loanable funds include wealth,
default risk, disposable income, and expected future income. Because saving is the leading
supply of loanable funds we must consider which factors encoura
ECON 105C - Principles of Microeconomics
CHAP 10 Worksheet
1/ A example of a good with external benefits is
a dose of flu vaccine.
2/ When studying pollution and the environment, economists
emphasize costs and benefits.
3/ The cost of producing an additio
Patrick De La Rosa
To create monthly budget projections for
the Gorecki Construction company.
Estimated Monthly Budget
Cost of G
*The U.S. and Global Economies
Do We Produce
The goods and services that we produce are divided into four large
Consumption goods and services;
*Consumption Goods and
Goods and services that are bought
Sustainable development has been defined as meeting the needs of present generation
without compromising the wellbeing of future generations EXAM
So, running down the capital stock is not consistent with the idea of sustainability
Income per capita: Total gross national income of a country divided by total population.
Subsistence economy: An economy in which production is mainly for personal
consumption and the standard of living yields little more than basic necessities of life, f
Development economics must be concerned with formulation of appropriate public policies
designed to effect the following: major economic:
a. institutional development b. economic implantatio c. social transformations d. all of the above
Why were Millenniu
(assume closed & private economy)
consumption or investment
Steady state equilibrium
Kmax - maximum capital stock (nothing left to eat)
If S = 1, so that S = I = Y
n>0 (population growth)
Updated Steady State Condition
. e* = (f(K) - (^+
1. Why is economics central to an understanding of the problems of development?
In order to solve the problems of development, one must study the economics state
of a society. Economics covers not only how a
Monopoly: A market in which one firm sells a good or service that has no close substitutes and a
barrier blocks the entry of new firms. They arise with no close substitutes and barriers to entry
(USPS, any spo
Study Guide Final Exam
Chapter 1 - Economic questions- what, how, and for whom; Normative statements; Opportunity
cost; Positive relationship.
Chapter 2 Factors of production; What we produce?; Functional distribution of income.
Chapter 3 Pro
Chapter 5 Price Elasticity of Demand - Midpoint formula; Elastic, Inelastic, and Unit Elastic
Demand; Elasticity - Substitutes, Compliments, Necessities; Elasticity and Total Revenue; Price
elasticity of demand linear de
Descartes: Meditation One
1. The First Meditation introduces the well-known skeptical arguments, challenging the
accuracy of the senses, the existence of the external world, and even the truths of
mathematics. To support these challenges, Descartes advanc
Dr. Anthony P. Mazzaferro
Unit Four: The Classical Era (1750-1820)
Text: (8th Edition) Pages 151-203
Mozart: Symphony No. 40 in G Minor, K. 550, First Movement
Haydn: Symphony No. 94 in G Major Surprise, Secon
Notes: Arguments for and Against Gods Existence
Discuss Principle of Sufficient Reason
Discuss Causal Principle
Distinguish A priori from A posteriori
Distinguish Deductive from Inductive (relate to a priori and a posteriori)
Distinguish between Necessary
San Diego Community College District
CITY, MESA AND MIRAMAR COLLEGES
Mathematics Assessment Tests
Choosing the appropriate assessment test is important!
There are two mathematics assessment tests available, Algebra Readiness and Intermedi
Quiz: Ch. 6
1.T or F: The cosmological argument for the existence of God is an a priori argument because it is based
on premises that can be known only by means of experience of the world.
2. According to supporters of the cosmological argument, t
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Chapter/Lecture: Eleven (quiz 10)
1. According to Kierkegaard, all humans are in despair because:
a. all humans are secretly depressed.
b. all humans hate the world.
c. all humans are possessed by evil.
d. all humans are an uneasy mixture of a fin
"Suppose, then, that I am dreaming. Suppose, in particular, that my eyes are not open, that my head is
not moving, and that I have not put out my hand. Suppose that I do not have hands, or even a body."
1. Based on the above line f
Every person, wherever he goes, is encompassed by a cloud of comforting convictions, which
move with him like flies on a summer day. Bertrand Russell
What is a Vision?
A vision is a pre-analytic cognitive act.
It is what one senses or feels
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1. A monopoly produces a product
barriers to entry into the market.
With no close substitutes; are
2. If a single firm can meet the entire market demand at a lower average total cost than a larger
number of smaller firms, the single firm
The elasticity of demand is used to
Measure how responsive consumers are to a change in price.
2. Suppose the price of a box of cereal rises from $4 to $6. Using the midpoint method, what is the percentage change of
3. The pric
Which of the following goods is best described as nonexcludable?
Flood control levees
2. A private good is
excludable and rival
3. A public good
is nonrival and nonexcludable
4. The marginal benefit of a public good
as more of the good is produ