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Economics

GDP

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Inflation
Real gross domestic product
Natural rate of unemployment
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Minimum wage
Economic growth

Cornell Notes Topic / Objective: Name: Jack Andrew Joa Gross Domestic Product Notes Class: Economics 1100 ? 01: Introduction To The American Economy Period: 1st Period Date: Friday February 10th, 2017 Essential Question: Gross Domestic Product Questions: Notes: The Circular Flow And The national income and product accounts, often referred as the national accounts. Gross Domestic Product: A Household: Consists of either an individual or a group of people who share their income. A Firm: Organization that produces goods and services for sale, it also employs members of households. Product Markets: Where goods and services are bought and sold. Factor Markets: Where resources, especially capital and labor, are bought and sold.

Minimum Wage

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Economics
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Labor economics
Employment compensation
Economics
Macroeconomics
Human resource management
Minimum wage
Socialism
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Unemployment
Inflation
Labor
Politics
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Minimum wage
Labor economics
Employment compensation
economics
macroeconomics
Socioeconomics
Human resource management
unemployment
Employment Policies Institute
Employment
Economic inequality
Living wage
Labor
Politics

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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economics
Economic theories
Consumer theory
Marginal concepts
Microeconomics
Welfare economics
Supply and demand
Marginalism
Production–possibility frontier
Marginal utility
demand
Externality
Business

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

American Paegent Chapter 24 Outline

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US History
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Rockefeller family
History of the United States
John D. Rockefeller
Marathon Oil
Rockefeller Foundation
Monopoly
Standard Oil
Economics
Rebate
Economy of the United States
Technology
Business

1. Rebates- were given to large companies that shipped large quantities of goods. This caused problems for farmers as they had to pay more for shorter distances. 2 . John D. Rockefeller ? The oil baron. Maker of the Standard Oil Company in 1870. He would make trust packs with his competition to monopolize the business, this was called horizontal integration. He was an aggressive monopolist. 3. J. Pierpont Morgan ? The banker?s banker. He?d place bankers of his own syndicate on various boards of directors, this was called, interlocking directorates. Bought Carnegie?s business for $400 million and made it the first billion dollar company. 4. President Cleveland ? Gave away land to railroad companies and grudgingly passed the Interstate Commerce Act of 1887.

John Maynard Keynes

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Economics
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economics

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

2005 microeconomics frq

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Standardized tests
College Board
Economics
Education

AP? Microeconomics 2005 Free-Response Questions The College Board: Connecting Students to College Success The College Board is a not-for-profit membership association whose mission is to connect students to college success and opportunity. Founded in 1900, the association is composed of more than 4,700 schools, colleges, universities, and other educational organizations. Each year, the College Board serves over three and a half million students and their parents, 23,000 high schools, and 3,500 colleges through major programs and services in college admissions, guidance, assessment, financial aid,

microeconomics practice test

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Microeconomics
Total revenue
Price
Supply
Elasticity

AP Microeconomics Multiple Choice: Choose the item that best answers each question.? Each question is worth an equal amount.? You have 90 minutes to complete this test.? ??????? 1.??? In which of the following instances will total revenue decline? ?????????????? A)?? price rises and supply is elastic ?????????????? B)?? price falls and demand is elastic ?????????????? C)?? price rises and demand is inelastic ?????????????? D)?? price rises and demand is elastic ??????? 2.??? The diamond-water paradox occurs because: ?????????????? A)?? the price of a product is related to its total utility, not its marginal utility. ?????????????? B)?? the price of a product is related to its marginal utility, not its total utility.

Civil War

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US History
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Customs duties
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36th United States Congress
Morrill Tariff
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Civil War
lincoln
Johnson

Civil War Pre-Civil War (Chapter 20) Rich man?s war ? the rich could pay their way out of conscription Morrill Tariff raised the tariff 5-10% Treasury prints money, causes massive inflation North - $1.00 became 39 cents South had 9000% inflation Sale of bonds became very important ? North raised $2.6 Billion Precursor to today?s Federal Reserve system North had an economic boom due to suppliers making money People making low quality items and skimming the profit Bountiful harvest in the north (good crops) Oil discovered in Pennsylvania Women enlisted in the armies posing as men Women in the medical field Dr. Elizabeth Blackwell, 1st Female M.D. Clara Barton, established Red Cross Dorothea Dix, famous nurse Before the war, the South held 20% of U.S. wealth; after the war, 12%

AP Econ Chapter 3 outline

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Gains from trade

3:Interdependence and the Gains From Trade Intro we rely on other people for goods and services we buy interdependence is possible bc of trade A Parable for the Modern Economy trade allows a greater variety benefit $$$ by specializing in what your best at Production Possibilities spend all your time on one item, can produce lots of that item and none of the other and vice versa, or can split time between the two rancher & farmer have to make a decision, tradeoff between time on meat and time on potatoes self sufficiency means consuming only what you can produce Specialization and Trade rancher and farmer: specializing in what they?re good at allows them to make the most of that item as possible.

ch.45

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US Gov and Politics
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Economics
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Mercantilism
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Welfare economics
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Wealth

Chapter 7 Questions Level 1 Mercantilism What was the mercantile system/theory? put upon by the British. Shaped the idea of major policies. Believed that wealth was power; a country?s economic wealth could be measured by the amount of gold or silver. Basic goal: export more than what was being imported. Relied on strong central governments to be enforced. What occurred during the Boston Tea Party? What were the Acts that were established? Describe each. Level 2 Questions. What impact did the Navigations Act (NA) have upon the colonies economic system? Explain. 1763 NA.

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