1. INTRODUCTION TO MACROECONOMICS 2. Microeconomics is the study of how households and firms make decisions and how these decision makers interact in the broader marketplace.…

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Slide 1Review of Exam 1 Slide 2 1. In a simple model of the supply and demand for pizza, the endogenous variables are: A) the price of pizza and the price of cheese. B) aggregate…

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Slide 1BEC REVIEW 1.Explain relationship between scarcity and choices 2.Differentiate between positive & normative 3.Differentiate between price and cost 4.Explain the…

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In this chapter, look for the answers to these questions: What is Gross Domestic Product (GDP)? How is GDP related to a nationâs total income and spending? What are the…

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Slide 1 Slide 2 ECO 154/254 Prof. Michael B. McElroy Multimedia by: Mannig J. Simidian Intermediate Macroeconomics Slide 3 x2x2x2x2 x1x1x1x1 x 2a x 2b x 1a x 2b Slide 4 The…

MACROECONOMIC ENVIRONMENT 1. INTRODUCTION What Is Macroeconomics? Macroeconomics is the study of the behavior of the economy as a whole and the policy measures that the government…