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Economy & Finance Micro economics 3

1. Unit -3: Production and Business Organization and Analysis of Costs 2. Production function A production function relates physical output of a production process to physical…

Documents HE2002 - Lecture 1.pdf

Lecture 1 • Introduction to Macroeconomics • A Representative Firm • Read: Chapter 4 1-1 Gross Domestic Product, Economic Growth, and Business Cycles • Gross Domestic…

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An Equilibrium Business-Cycle Model C h a p t e r 8 Macroeconomics Chapter 8 Cyclical Behavior of Real GDP—Recessions and Booms Real GDP = trend real GDP + cyclical part…