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economics

PERSIA

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PERSIA" is an acronym for Political, Economic, Religious, Social, Intellectual, and Artistic. It is a framework for organizing your thinking about history. ? Politics is about power, who uses it to govern (make and enforce rules), how power is used, and the goals one hopes to accomplish by using power. Politics is about public decisions and how those decisions are reached. Public power is usually exercised through governments. ??Economics?is about how people use whatever resources they have to produce and distribute goods and services. Economics is about jobs, production, money, and markets. Economics helps us decide how to effectively use scarce resources. Economics is about daily survival; you have to have food and shelter to survive, and that usually takes money.

APUSH study guide

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Sheet1 Mexican Cession After Annexation of TX, issues w/ MX broke out. Fremont overthrew MX in CA; Scott captured MX City - Treaty of Guad. Hidalgo (1848) 1. Rio Grande S. border of TX 2. US got NM and CA for $15mill; MX Ces - Whigs opposed; immoral effort to expand slavery; Wilmont Proviso - Forbid slavery in new MX territiory (didn't pass); Comp or 1850 - CA free state; divide MX Ces into NM and UT - pop sov

Ch 7 econ notes

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1.????? Real Economic growth a.?????? How does real economic growth occur? ????????????????????????????????????????????????????????????? i.????? When the factors of production improve b.????? What does it look like on an AS AD model? ????????????????????????????????????????????????????????????? i.????? Aggregate= Total ??????????????????????????????????????????????????????????? ii.????? On Y axis is Average Price Level ????????????????????????????????????????????????????????? iii.????? On X axis is Real GDP (Real Output c.?????? PPC? ????????????????????????????????????????????????????????????? i.????? AD=C+Ig+G+Xn 1.????? Consumption, Investment, Gov Spending, Exports 2.????? So the curve will shift with these factors 2.????? Business Cycle (See One Note) a.?????? Explain What it is

Econ Notes

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Notes Holding Money Means that I have money in such a way that it?s not earning any interest, not circulating, and has zero velocity.? Ex: money in a piggy bank? Demand for Money Transaction Demand Dt For purchase Varies directly with GDP Demand for money increases to purchase that which is produced by the economy, ie, GDP Simplification ( Dt is independent of interest rates) Asset Demand Da Money held as an asset, held for future investment Varies inversely with interest rates (opportunity cost) Precautionary Demand (brought up by Keynes) ?Rainy Day Money? You?re holding onto money for emergencies. Total demand for money, Dm =? Dt + Da and is the supply of money Bonds Bonds = Loans?

Skills Mismatch

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Marada and Manzala (2001) concluded that skill mismatch in the Philippines is very evident from indicators such as high unemployment and underemployment rate. According to the 2001 data, 4.5 million were unemployed and 5.1 million were underemployed, out of 33.6 million labor force participants in the Philippines. Personnel in the Department of Labor and Employment (DOLE) said that the figures presented in Manzala and Marada?s study provided a glimpse of the problems regarding skill mismatch in the Philippines. Marada, Hector B., and Teresita R. Manzala. "Mismatches in the Philippine Labor Market." (2001). Web. http://www.bles.dole.gov.ph/download/mplm.pdf

class notes 4/17

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Geography?of?Industry?and?Services Major?Industrial?Regions?of?the?World?Before?1950:?Germany,?America,?USSR?(esp.?Ukraine), Japan,?and?China ?Main?determinants: ?Near?raw?materials ?Transportation?(creation?of?US?Interstate?system?in?the?1950s,?other?countries?followed, ?????????????planes)???>?Not?everything?had?to?be?regionalized?anymore ?But...additional?needs: ?Goods?and?capital ?Political?circumstances ?Economic?leadership ?Labor?costs ?Levels?of?education?and?training How?Do?Location?Theories?Explain?Industrial?Location? ?What?is?location?theory? ?Predicting?where?business?will?or?should?be?located ?Three?different?theories ?Factors?to?consider: ?Variable?costs ?Friction?of?distance LOCATION?MODELS: Weber?s?Model Hotelling?s?Model Losch?s?Model

Minimum Wage

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Minimum Wage Nathan Yu ENGLISH LANGUAGE AND COMPOSITION SECTION II Question 1 (Suggested time?40 minutes. This question counts for one-third of the total essay section score.) Minimum Wage has been a highly controversial topic for many years. Supporters argue that it is necessary in that minimum wage provides more to workers, allowing them to live better lives. Others argue that minimum wage may provide temporary benefits, it only causes harm to the economy as it causes inflation and unemployment.

Economics Notes

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Crowding Out - is what happens when a mega sports event attracts fanatics but drive agnostics away Substitution - when consumers shift their spending, instead of increasing their overall consumption Leakage - the tendency for money to circulate out of rather than through a local economy Economics - Social science concerned with the efficient use of limited resources to achieve maximum satisfaction of economic wants (study of how individuals and societies deal with scarcity) What is economics? -science of scarcity (the condition in which our wants are greater than our limited resources) -since we are unable to have everything we desire, we must make choices on how we use our resources -in economics we will study the choices of individuals, firms and governments

John Maynard Keynes

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Tuesday, December 11, 2012 John Maynard Keynes from (http://www.investopedia.com/articles/economics/09/john-maynard-keynes-keynesian.asp#axzz2EmRQY6hg) second wealthiest economist in history believed free market capitalism was unstable ideas were summed up in the book he wrote that came out in 1936, where he explained his ?General Theory? gave governments a central role in economics Keynes made government see that they could become the main driver in the economy Was against classical economic virtues Keynes believed that private investment, balanced government budgets and low taxes were more significant than saving, private investment, balanced government budgets and low taxes

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