Macroeconomics (Eon-7-42619)

This notes go over 3-1 Scarcity, Choice, and Opportunity Cost A. Opportunity Cost and Money Cost B Optimal Choice: Not just any choice 3-2 Scarcity and Choice for a Single Firm A. Production Possibilities Frontier B. The Principle of Increasing Costs 3-3 Scarcity and Choice for the Entire Society A. Scarcity and Choice Elsewhere in the Economy 3-4 The Concept Of Efficiency 3-5 The Three Coordination Tasks of Any Economy 3-6 Task 1. How the Market Fosters Efficient Resource Allocation A. The Wo...

These notes are an extremely simplified approach to 2-1 The American Economy, A. A Private-Enterprise Economy, B. A Relatively Closed Economy, C. A Growing Economy, D. But with Bumps Along the Path. 2-2 Labor and Capital A. The American Workforce and who is in it, B.What does it do C. The American Workforce: What does it earn D. Capital and its earnings 2-3 The outputs: What does America produce 2-4 The central Role of Business Firms 2-5 Whats Missing From the Picture? Government A. Referee ...