Macroeconomics: Canada in the Global Environment |
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Decisions Households and firms make decisions that result in the transactions in
the goods markets and factor markets shown in Fig. 1.1. Households decide how
much of their labour, land, and capital to sell or rent on factor markets. In return ...
Decisions Households and firms make decisions that result in the transactions in
the goods markets and factor markets shown in Fig. 1.1. Households decide how
much of their labour, land, and capital to sell or rent on factor markets. In return ...
˹éÒ 623
Households ♢ Receive incomes in exchange for the supply of factors of
production to firms ♢ Make expenditures on ... Pay incomes to households in
exchange for the factors of production hired (these payments include wages paid
for labour, ...
Households ♢ Receive incomes in exchange for the supply of factors of
production to firms ♢ Make expenditures on ... Pay incomes to households in
exchange for the factors of production hired (these payments include wages paid
for labour, ...
˹éÒ 1046
Chapter 38 Households choose the quantity of each factor of production to sell,
and firms that organize production choose the quantity of each factor to buy.
These choices respond to the prices prevailing in the factor markets. An increase
in a ...
Chapter 38 Households choose the quantity of each factor of production to sell,
and firms that organize production choose the quantity of each factor to buy.
These choices respond to the prices prevailing in the factor markets. An increase
in a ...
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Introduction | 1 |
What Is Economics? | 5 |
Making and Using Graphs | 27 |
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aggre aggregate demand curve aggregate expenditure curve aggregate planned expenditure aggregate supply curve amount autonomous expenditure Bank of Canada billion hours billions of 1986 business cycle capital cars Chapter consumption expenditure consumption function curve for real decrease deficit deposits disposable income dollars equilibrium expenditure example expected exports factors factors of production falls Figure firms fiscal policy fluctuations GDP deflator government purchases graph growth households inflation rate investment demand curve long-run aggregate supply macroeconomic marginal propensity ment million tapes monetary policy money supply money wage rate multiplier open market operation opportunity cost output percent Phillips curve price level production possibility frontier quantity demanded quantity of labour quantity of money quantity of real quantity supplied Real GDP billions real GDP increases real interest rate real wage rate recession relationship rises short-run aggregate supply slope tapes a week taxes tion trade transfer payments unemployment rate