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8 Cards in this Set
- Front
- Back
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GDP vs GNP |
x |
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Income groups |
x |
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Index of Openness |
x |
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PPP |
Purchasing Power Parity |
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7 Assumptions |
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Assumption: Rational behavior |
Econ agents are goal-oriented: Consumers maximize satisfaction (subject to income) and Firms maximize profit (subject to resources) |
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Assumption: Two-country, two-good World |
x |
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Assumption: No money illusion |
x |
