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Labour economics

Ch 1 AP Micro econ

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01 Limits, Alternatives, and Choices McGraw-Hill/Irwin Copyright ? 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Introduction Economics defined Economic wants exceed productive capacity A social science concerned with making optimal choices under conditions of scarcity LO1 1-* The Economic Perspective Scarcity and Choice Purposeful Behavior Marginal Analysis Resources are scarce Rational self-interest Marginal benefit Choices must be made Individuals and utility Marginal cost Opportunity cost Firms and profit Marginal means extra There?s no free lunch Desired outcomes MB and MC LO1 1-* Theories, Principles, and Models The scientific method Economic principles Generalizations Other-things-equal assumption Graphical expression Observe

Krugman AP Macroeconomics Module 18

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Module 18: Aggregate Supply -How the aggregate supply curve illustrates the relationship between the aggregate price level and the quantity of aggregate output supplied in the economy -What factors can shift the aggregate supply curve -Why the aggregate supply curve is different in the short run from in the long run ? Aggregate Supply Aggregate Supply Curve: relationship between the aggregate price level and the quantity of aggregate output supplied in the economy The Short-Run Aggregate Supply Curve: relationship between the aggregate price level and the quantity of aggregate output supplied that exists in the short run Rise in the aggregate price level = rise in the quantity of aggregate output supplied

Krugman AP Macroeconomics Chapter 13

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Chapter 13: The Causes and Categories of Unemployment ? -The three different types of unemployment and their causes -The factors that determine the natural rate of unemployment ? 1. Frictional Unemployment: unemployment due to the time workers spend in job search Somewhat inevitable- frictional unemployment doesn?t mean that there is a surplus of labor Constant process of job creation and job destruction New workers are always entering the labor market Limited amount is relatively harmless and may be a good thing Short duration of unemployment Job search: Workers who spend time looking for employment/ if all workers and all jobs were alike job search wouldn?t be necessary 2. Structural Unemployment:

Krugman AP Macroeconomics Chapter 12

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Chapter 12: The Meaning and Calculation of Unemployment ? -How unemployment is measured -How the unemployment rate is calculated -The significance of the unemployment rate for the economy -The relationship between the unemployment rate and economic growth ? Employed: people who currently hold a job in the economy, either full time or part time/ only if you have a job Unemployed: people who are actively looking for work but aren?t currently employed Limitations: Retired people Disabled Hasn?t actively searched for a Job in the last 4 weeks Discouraged workers Marginally attached workers Underemployed U.S. Census Bureau monthly survey called the Current Population Survey: interviewing a random sample of 60,000 American families

Krugman AP Macroeconomics Chapter 13

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Chapter 13: The Causes and Categories of Unemployment ? -The three different types of unemployment and their causes -The factors that determine the natural rate of unemployment ? 1. Frictional Unemployment: unemployment due to the time workers spend in job search Somewhat inevitable- frictional unemployment doesn?t mean that there is a surplus of labor Constant process of job creation and job destruction New workers are always entering the labor market Limited amount is relatively harmless and may be a good thing Short duration of unemployment Job search: Workers who spend time looking for employment/ if all workers and all jobs were alike job search wouldn?t be necessary 2. Structural Unemployment:

Krugman AP Macroeconomics Chapter 12

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Chapter 12: The Meaning and Calculation of Unemployment ? -How unemployment is measured -How the unemployment rate is calculated -The significance of the unemployment rate for the economy -The relationship between the unemployment rate and economic growth ? Employed: people who currently hold a job in the economy, either full time or part time/ only if you have a job Unemployed: people who are actively looking for work but aren?t currently employed Limitations: Retired people Disabled Hasn?t actively searched for a Job in the last 4 weeks Discouraged workers Marginally attached workers Underemployed U.S. Census Bureau monthly survey called the Current Population Survey: interviewing a random sample of 60,000 American families

Krugman AP Macro Economics Chapter 2

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Chapter 2: Module Introduction to Macroeconomics ? Business Cycle: differences between downturns and upturns in macroeconomic Depression: Deep and prolonged downturn (ex: great depression) Recession: shorter economic downturns where output and employment are dropping (ex: state of the US now) Expansion: upturn where output and employment are rising Employment/Unemployment Employment: total number of people working for pay, rises in good economy Unemployment: total number of people who aren?t employed, rises in bad economy Labor Force: A country?s sum of employment and unemployment Unemployment Rate: percentage of labor force/people in country who are unemployed Aggregate Output Output: quantity of goods and services, decreases in bad economy

Krugman AP Macro Economics Chapter 1

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Chapter 1: The Study of Economics ? Economics: The study of scarcity and choice- individual choice Individual Choice: Decisions made by an individual of what to/not to do Economy: System that coordinates consumption and distribution of goods/services Market Economy: Decentralized production, publicly owned, no authority saying what to/not to make (ex: United States) Command Economy: Central authority, publicly owner, don?t work very well (ex: Soviet Russia) Problem: lack of motivation, better quality work doesn?t make more money, ineffective supply&demand Property rights: Establishes ownership causing incentive to work and thus production to increase Marginal Analysis: Study of marginal decisions, the pros and cons of doing a little bit more or less

AP Econonmics Ch2 outline

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Christian Boujaoude September 20, 2014 AP Economics Pd. 3 Wolff Ch. 2 The Economizing Problem I. The Foundation of Economics A. Economizing Problem 1. Society?s economic wants are unlimited and economic resources are scarce B. Unlimited Wants 1. Extend over a wide range of products, from necessities to luxuries 2. Services satisfy our wants 3. The objective of all economic activity is to fulfill wants C. Scarce Resources 1. Economic resources a. all natural, human, and manufactured resources that go into the production of goods and services b. Property resources= land, raw materials, and capital c. Human resources= labor and entrepreneurial ability D. Resource Categories 1. Land

Psych Essay Intelligence

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Chirag Doshi 1/16/14 Essay Chapter 7 & 11 Mr. Schultz Do you believe that intelligence testing is a valid measure of ones intelligence? Why or why not? Which theorist and/or model do you believe best reflects human intelligence? Choose two problem solving techniques/impediments (heuristics, algorithms, confirmation and/or hindsight bias, framing, functional fixedness, etc.) and explain how they will help or hinder someone taking an intelligence test. Can intelligence be measured by a test or indexed by any manmade scale? The aforementioned question can only be answered when a concrete definition of intelligence is established and unfortunately there is no single, time-honored definition of intelligence, at least with regard to Psychology.

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