Macroeconomics

A Pareto optimum is a point that

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A competitive equilibrium is Pareto optimal if there is no way to rearrange or to reallocate goods so that

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A competitive equilibrium has the following property:

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Points on the production possibilities frontier have the property that they

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The rate at which one good can be converted technologically into another is called

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The production possibilities frontier in the one-period model is a

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A relationship that shows the technological possibilities for an economy as a whole is called a

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In the production function, output is given by

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In the one-period competitive model we have been studying,

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Examples of exogenous variables include

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Making use of an economic model is a process of

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Fiscal policy refers to a government's choices over its

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In a one-period economic model, the government budget constraint requires that government spending

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In a one-period model, government is likely to run

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In an economic model, government spending is assumed to be

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Goods and services provided by the government are called

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An economy that engages in international trade is called

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An economy that has no interaction with the rest of the world is called

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In the goal of consumer optimization, it is assumed that

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The vertical intercept of the consumer's budget line is equal to

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An indifference curve is best defined as

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The consumer's work-leisure choice problem focuses on how a consumer's work-leisure decision is ...

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Why is forecasting GDP over the long term so difficult?

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Seasonal adjustment in macroeconomic analysis

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Average labour productivity tends to be a

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