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#cfa-level-1 #economics #economics-in-a-global-context #los #reading-20-international-trade-and-capital-flows
If a Greek shipping company transports the wine that the United States imports from France, the United States would classify the cost of shipping as an import of services from Greece and the wine would be classified as an import of goods from France.

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2.1. Basic Terminology
th from India and wine from France. Exports are goods and services that a domestic economy sells to other countries. For example, South Africa exports (sells) diamonds to the Netherlands, and China exports clothing to the European Union. So <span>how are services imported or exported? If a Greek shipping company transports the wine that the United States imports from France, the United States would classify the cost of shipping as an import of services from Greece and the wine would be classified as an import of goods from France. Similarly, when a British company provides insurance coverage to a South African diamond exporter, Britain would classify the cost of the insurance as an export of services to South Afr




#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Through, saving households can accumulate financial capital, the returns on which can produce other sources of household income, such as interest, dividends, and capital gains.

Households may choose to lend their accumulated savings (in exchange for interest) or invest it in ownership claims in firms (in hopes of receiving dividends and capital gains).

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2. TYPES OF MARKETS
they judge that the value of the productivity of workers is greater than the cost of employing them. A major source of household income and a major cost to firms is compensation paid in exchange for labor services. Additionally, <span>households typically choose to spend less on consumption than they earn from their labor. This behavior is called saving , through which households can accumulate financial capital, the returns on which can produce other sources of household income, such as interest, dividends, and capital gains. Households may choose to lend their accumulated savings (in exchange for interest) or invest it in ownership claims in firms (in hopes of receiving dividends and capital gains). Households make these savings choices when their anticipated future returns are judged to be more valuable today than the present consumption that households must sacrifice when they save. Indeed, a major purpose of financial institutions and markets is to enable the transfer of these savings into capital investments. Firms use capital markets (markets for




Flashcard 1425521380620

Tags
#cfa-level-1 #economics #economics-in-a-global-context #los #reading-20-international-trade-and-capital-flows
Question
GDP is more widely used as a measure of economic activity occurring within the country, which, in turn, affects [...] , [...], and the investment environment.
Answer
employment

growth


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GDP is more widely used as a measure of economic activity occurring within the country, which, in turn, affects employment, growth, and the investment environment.

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2.1. Basic Terminology
f citizens who work abroad (for example, Pakistan and Portugal), and/or pay more for the use of foreign-owned capital in domestic production than they earn on the capital they own abroad (for example, Brazil and Canada). Therefore, <span>GDP is more widely used as a measure of economic activity occurring within the country, which, in turn, affects employment, growth, and the investment environment. Imports are goods and services that a domestic economy (i.e., households, firms, and government) purchases from other countries. For example, the US economy imports (purch







Flashcard 1425613393164

Tags
#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
This reading is organized as follows.

Section 2 explains how [...]

Section 3 covers the basic principles and concepts of [...] of markets.

Section 4 introduces [...] of demand to changes in prices and income.
Answer
economists classify markets.

demand and supply analysis

measures of sensitivity


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This reading is organized as follows. Section 2 explains how economists classify markets. Section 3 covers the basic principles and concepts of demand and supply analysis of markets. Section 4 introduces measures of sensitivity of demand to changes in prices and income.

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1. INTRODUCTION
s to converge to an equilibrium price? What are the conditions that would make that equilibrium stable or unstable in response to external shocks? How do different types of auctions affect price discovery? <span>This reading is organized as follows. Section 2 explains how economists classify markets. Section 3 covers the basic principles and concepts of demand and supply analysis of markets. Section 4 introduces measures of sensitivity of demand to changes in prices and income. A summary and practice problems conclude the reading. <span><body><html>







Flashcard 1425623878924

Tags
#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
In [...] economies, households own the factors of production.
Answer
capitalist private enterprise


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In capitalist private enterprise economies, households own the factors of production (the land, labor, physical capital, and materials used in production).

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2. TYPES OF MARKETS
n markets. Investment analysts need at least a basic understanding of those markets and the demand and supply model that provides a framework for analyzing them. Markets are broadly classified as factor markets or goods markets. <span>Factor markets are markets for the purchase and sale of factors of production. In capitalist private enterprise economies, households own the factors of production (the land, labor, physical capital, and materials used in production). Goods markets are markets for the output of production. From an economics perspective, firms, which ultimately are owned by individuals either singly or in some corporate form, are or







Flashcard 1425639345420

Tags
#cfa-level-1 #economics #economics-in-a-global-context #los #reading-20-international-trade-and-capital-flows
Question
Countries that have large differences between GDP and GNP generally have a large number of [...] (for example, Pakistan and Portugal), and/or pay more for the use of [...] in domestic production than they earn on the capital they own abroad (for example, Brazil and Canada).
Answer
citizens who work abroad

foreign-owned capital


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Countries that have large differences between GDP and GNP generally have a large number of citizens who work abroad (for example, Pakistan and Portugal), and/or pay more for the use of foreign-owned capital in domestic production than they earn on the capital they own abroad (for example, Brazil and

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2.1. Basic Terminology
NP is that GDP includes, and GNP excludes, the production of goods and services by foreigners within that country, whereas GNP includes, and GDP excludes, the production of goods and services by its citizens outside of the country. <span>Countries that have large differences between GDP and GNP generally have a large number of citizens who work abroad (for example, Pakistan and Portugal), and/or pay more for the use of foreign-owned capital in domestic production than they earn on the capital they own abroad (for example, Brazil and Canada). Therefore, GDP is more widely used as a measure of economic activity occurring within the country, which, in turn, affects employment, growth, and the investment environment.







Flashcard 1428078857484

Tags
#derecho #introduccion-al-derecho
Question
Las normas se clasifican en normas morales, [...], sociales y jurídicas.
Answer
religiosas


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Las normas se clasifican en normas morales, religiosas, sociales y jurídicas.

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1.3LA NORMA
Estado impone a los ciudadanos para la convivencia en sociedad, de aquí es donde surge el Derecho. Toda conducta humana debe ser regida por diferentes tipos de reglas de comportamiento, a las que se les llama norma. <span>Las normas se clasifican en normas morales, religiosas, sociales y jurídicas. La palabra norma suele usarse en dos sentidos: uno amplio (Latu sensu), y otro estricto (Stricto sensu), en sentido amplio, es aplicado a toda regla de comportamiento human







Flashcard 1428246629644

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
[...] auctions are sometimes used to induce bidders to reveal their true reservation prices in private value auctions.
Answer
Second price sealed bid


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increasing prices until the last, highest bidder ultimately pays his/her bid price and buys the item. Descending price, or Dutch, auctions begin at a very high price and then reduce that price until one bidder is willing to buy at that price. <span>Second price sealed bid auctions are sometimes used to induce bidders to reveal their true reservation prices in private value auctions. Treasury notes and some other financial instruments are sold using a for

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SUMMARY
ven price, the quantity demanded exceeds the quantity supplied, there is excess demand and price will rise. If, at a given price, the quantity supplied exceeds the quantity demanded, there is excess supply and price will fall. <span>Sometimes auctions are used to seek equilibrium prices. Common value auctions sell items that have the same value to all bidders, but bidders can only estimate that value before the auction is completed. Overly optimistic bidders overestimate the true value and end up paying a price greater than that value. This result is known as the winner’s curse. Private value auctions sell items that (generally) have a unique subjective value for each bidder. Ascending price auctions use an auctioneer to call out ever increasing prices until the last, highest bidder ultimately pays his/her bid price and buys the item. Descending price, or Dutch, auctions begin at a very high price and then reduce that price until one bidder is willing to buy at that price. Second price sealed bid auctions are sometimes used to induce bidders to reveal their true reservation prices in private value auctions. Treasury notes and some other financial instruments are sold using a form of Dutch auction (called a single price auction) in which competitive and non-competitive bids are arrayed in descending price (increasing yield) order. The winning bidders all pay the same price, but marginal bidders might not be able to fill their entire order at the market clearing price. Markets that work freely can optimize society’s welfare, as measured by consumer surplus and producer surplus. Consumer surplus is the difference between the total value







Flashcard 1428253183244

Question
La distinción clara del deber y derecho, es que el primero es una forma de [...] y el Derecho es la exigencia
Answer
conducta


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La distinción clara del deber y derecho, es que el primero es una forma de conducta y el Derecho es la exigencia; un ejemplo claro sería el deber que tengo de pagar un impuesto y mi derecho es el que con el pago de mi impuesto el Estado me proporcione de servicios pú

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Flashcard 1429087587596

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#sister-miriam-joseph #trivium
Question
Grammar is an experiment al knowledge of the usages of languages as generally current among poets and prose writers. It is divided into six parts:

(1)
[...];

(2) exposition, according to poetic figures [rhetoric];

(3) ready statement of dialectical peculiarities and allusion;

(4) discovery of etymologies; (5) the accurate account of analogies;

(6) criticism of poetical productions which is the noblest part of grammatical art.
Answer
trained reading with due regard to prosody [versification]


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Grammar is an experiment al knowledge of the usages of languages as generally current among poets and prose writers. It is divided into six parts: (1) trained reading with due regard to prosody [versification]; (2) exposition, according to poetic figures [rhetoric]; (3) ready statement of dialectical peculiarities and allusion; (4) discovery of etymologies; (5) the accurate account of analogi

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Flashcard 1430344830220

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#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
To reach equilibrium, price must adjust until there is neither an excess supply nor an excess demand. That adjustment is called the [...]


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To reach equilibrium, price must adjust until there is neither an excess supply nor an excess demand. That adjustment is called the market mechanism , and it is characterized in the following way: In the case of excess supply, price will fall; in the case of excess demand, price will rise; and in the case of neither excess supply no

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3.7. The Market Mechanism: Iterating toward Equilibrium—or Not
t buyers are willing to purchase 5,400 more units than sellers are willing to offer. This result is shown in Exhibit 9. Exhibit 9. Excess Demand as a Consequence of Price below Equilibrium Price <span>To reach equilibrium, price must adjust until there is neither an excess supply nor an excess demand. That adjustment is called the market mechanism , and it is characterized in the following way: In the case of excess supply, price will fall; in the case of excess demand, price will rise; and in the case of neither excess supply nor excess demand, price will not change. EXAMPLE 7 Identifying Excess Demand or Excess Supply at a Non-equilibrium Price In the local market for e-books, the aggregate demand i







Flashcard 1430517583116

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Sometimes we need to explicitly take account of all the feedback mechanisms that are going on in all markets simultaneously. When we do that, we are engaging in what is called [...] .
Answer
general equilibrium analysis


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rkets that are tangentially involved with this one. At other times, however, we need explicitly to take account of all the feedback mechanisms that are going on in all markets simultaneously. When we do that, we are engaging in what is called <span>general equilibrium analysis .<span><body><html>

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3.6. Market Equilibrium
so on, whereas the price and quantity of gasoline are being determined in the gasoline market. When we concentrate on one market, taking values of exogenous variables as given, we are engaging in what is called partial equilibrium analysis . <span>In many cases, we can gain sufficient insight into a market of interest without addressing feedback effects to and from all the other markets that are tangentially involved with this one. At other times, however, we need explicitly to take account of all the feedback mechanisms that are going on in all markets simultaneously. When we do that, we are engaging in what is called general equilibrium analysis .For example, in our hypothetical model of the local gasoline market, we recognize that the price of automobiles, a complementary product, has an impact on the demand for gasoline. If the







Flashcard 1431743368460



Tags
#cfa #cfa-level-1 #economics #has-images #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Question
When two consumers have different preferences, they will have different marginal rates of substitution when evaluated at identical bundles. Here, Warren has a relatively strong preference for [...] because he is willing to give up more [...] for another [...] than is Smith.
Answer
bread

wine

slice of bread


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#cfa #cfa-level-1 #economics #has-images #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Suppose that the slope of Warren’s indifference curve at point a is equal to −2, and the slope of Smith’s indifference curve at point a is equal to – 1/2 . Warren is willing to give up 2 ounces of wine for 1 slice of bread, and Smith is willing to give up only 1/2 ounce of wine for 1 slice of bread. But that means she would be willing to give up 2 slices of bread for 1 ounce of wine. What would happen if Warren and Smith are allowed to exchange bread for wine? Suppose they are allowed to exchange at the ratio of one ounce of wine for one slice of bread. Would they both agree to an exchange at that ratio? Yes. Warren would be willing to give up two ounces of wine for a slice of bread, so he would certainly be willing to give up only one ounce of wine for one slice of bread. Correspondingly, Smith would be willing to give up two slices of bread for one ounce of wine, so she would certainly be willing to give up only one slice of bread for one ounce of wine. If they actually made such a trade at the one-to-one ratio, then Smith would end up with more wine and less bread than she started with, and Warren would end up with more bread and less wine than he started with.

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Flashcard 1432286792972

Tags
#13-dic-2016 #internacional #mural
Question
En 1949, las Fuerzas comunistas de Mao Zedong se habían impuesto en la Guerra Civil de China. Derrotados, los nacionalistas del Presidente Chiang Kai-shek buscaron refugio en la isla de [...], donde establecieron su propio gobierno, que denominaron República de China.
Answer
Taiwán


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En 1949, las Fuerzas comunistas de Mao Zedong se habían impuesto en la Guerra Civil de China. Derrotados, los nacionalistas del Presidente Chiang Kai-shek buscaron refugio en la isla de Taiwán, donde establecieron su propio gobierno, que denominaron República de China. En Beijing, los triunfadores proclamaron la República Popular China. Cada parte aseguraba representar a toda

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¿Qué es una sola China?
bases de la política exterior de China, un país que vivió de manera traumática la pérdida de territorio a manos de las potencias extranjeras durante su siglo de oprobio, entre mediados del siglo 19 y 1949. ¿CUAL ES SU ORIGEN? <span>En 1949, las Fuerzas comunistas de Mao Zedong se habían impuesto en la Guerra Civil de China. Derrotados, los nacionalistas del Presidente Chiang Kai-shek buscaron refugio en la isla de Taiwán, donde establecieron su propio gobierno, que denominaron República de China. En Beijing, los triunfadores proclamaron la República Popular China. Cada parte aseguraba representar a toda China y ser su verdadero gobierno. Estados Unidos, que había apoyado a Chiang durante la Guerra Civil, reconoció a la RC. Los países del bloque comunista, a la RPC. Las diferencias ideológicas entre las dos grandes potencias comunistas, China y la Unión Soviética, crearon un espacio para el acercamiento entre Beijing y Washington durante la presidencia de Richard Nixon. Un acercamiento que se consolidó con el restablecimiento de relaciones en 1972. En 1979, Estados Unidos dejó de mantener relaciones diplomáticas con Taiwán, un paso que han seguido la mayoría de las naciones. ¿Qué consecuencias ha tenido para Taiwán? En la actualidad, Taiwán sólo mantiene relaciones diplomáticas con 22 Estados, la mayoría de ellos en África y América Latina







#i-q
Intelligence may be narrowly defined as the capacity to acquire knowledge and understanding, and use it in different novel situations.

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Flashcard 1432841489676

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#i-q #types-of-inteligence
Question
Intelligence may be narrowly defined as the capacity to acquire [...] and [...], and use it in different novel situations.
Answer
knowledge and understanding


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Intelligence may be narrowly defined as the capacity to acquire knowledge and understanding, and use it in different novel situations.

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#i-q #types-of-inteligence
the tests and exercises in this book perform another important function, that of using and exercising the brain.

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#i-q #types-of-inteligence
our brain cells continually develop new and stronger connections and adult brains can grow new cells, irrespective of age.

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#i-q #types-of-inteligence
Although it is difficult to define intelligence, indeed it appears to have no formal definition, there is, nevertheless, at least one particularly apposite definition: the capacity to learn and understand.

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Flashcard 1432848043276

Tags
#i-q #types-of-inteligence
Question
Although it is difficult to define intelligence, indeed it appears to have no formal definition, there is, nevertheless, at least one particularly apposite definition: the capacity to [...] and [...]
Answer
learn and understand.


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Although it is difficult to define intelligence, indeed it appears to have no formal definition, there is, nevertheless, at least one particularly apposite definition: the capacity to learn and understand.

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#i-q #types-of-inteligence
the lateral prefrontal cortex istheonlyarea of the brain where an increase in blood flow takes place when volunteers tackle complicated puzzles.

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Flashcard 1432851451148

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#i-q #types-of-inteligence
Question
the [...] is the only area of the brain where an increase in blood flow takes place when volunteers tackle complicated puzzles.
Answer
lateral prefrontal cortex


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the lateral prefrontal cortex istheonlyarea of the brain where an increase in blood flow takes place when volunteers tackle complicated puzzles.

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#i-q #types-of-inteligence
The originator of the theory of multiple intelligences, Howard Gardner, a professor of education at Harvard University, defines intelligence as the potential ability to process a certain sort of infor- mation.

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#i-q #types-of-inteligence
The different types of intelligence are for the most part independent of one another, and no type is more important than the other.

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#i-q #types-of-inteligence
Verbal=linguistic, e.g. lexical skills, formal speech, verbal debate, creative writing.

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Flashcard 1432857480460

Tags
#i-q #types-of-inteligence
Question
The originator of the theory of multiple intelligences, [...], a professor of education at Harvard University, defines intelligence as the potential ability to process a certain sort of information.
Answer
Howard Gardner


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The originator of the theory of multiple intelligences, Howard Gardner, a professor of education at Harvard University, defines intelligence as the potential ability to process a certain sort of infor- mation.

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Flashcard 1432859839756

Tags
#i-q #types-of-inteligence
Question
[...], e.g. lexical skills, formal speech, verbal debate, creative writing.
Answer
Verbal=linguistic


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Verbal=linguistic, e.g. lexical skills, formal speech, verbal debate, creative writing.

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#i-q #types-of-inteligence
Body=kinesthetic (movement), e.g. body language, physical gestures, creative dance, physical exercise, drama.

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Flashcard 1432862461196

Tags
#i-q #types-of-inteligence
Question
[...] (movement), e.g. body language, physical gestures, creative dance, physical exercise, drama.
Answer
Body=kinesthetic


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Body=kinesthetic (movement), e.g. body language, physical gestures, creative dance, physical exercise, drama.

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#i-q #types-of-inteligence
Musical=rhythmic, e.g. music performance, singing, musical composition, rhythmic patterns.

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Flashcard 1432865082636

Tags
#i-q #types-of-inteligence
Question
[...], e.g. music performance, singing, musical composition, rhythmic patterns.
Answer
Musical=rhythmic


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Musical=rhythmic, e.g. music performance, singing, musical composition, rhythmic patterns.

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#i-q #types-of-inteligence
Logic=mathematic, e.g. numerical aptitude, problem solving, deciphering codes, abstract symbols and formulae.

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Flashcard 1432867704076

Tags
#i-q #types-of-inteligence
Question
[...], e.g. numerical aptitude, problem solving, deciphering codes, abstract symbols and formulae.
Answer
Logic=mathematic


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Logic=mathematic, e.g. numerical aptitude, problem solving, deciphering codes, abstract symbols and formulae.

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#i-q #types-of-inteligence
Visual=spatial, e.g. patterns and designs, painting, drawing, active imagination, sculpture, colour schemes.

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Flashcard 1432870325516

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#i-q #types-of-inteligence
Question
[...], e.g. patterns and designs, painting, drawing, active imagination, sculpture, colour schemes.
Answer
Visual=spatial


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Visual=spatial, e.g. patterns and designs, painting, drawing, active imagination, sculpture, colour schemes.

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#i-q #types-of-inteligence
Interpersonal (relationships with others), e.g. person-to-person communication, empathy practices, group projects, collaboration skills, receiving and giving feedback.

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Flashcard 1432872946956

Tags
#i-q #types-of-inteligence
Question
[...], e.g. person-to-person communication, empathy practices, group projects, collaboration skills, receiving and giving feedback.
Answer
Interpersonal (relationships with others)


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Interpersonal (relationships with others), e.g. person-to-person communication, empathy practices, group projects, collaboration skills, receiving and giving feedback.

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#i-q #types-of-inteligence
Intrapersonal (self-understanding and insight), e.g. thinking strategies, emotional processing, knowing yourself, higher order reasoning, focusing=concentration.

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Flashcard 1432875568396

Tags
#i-q #types-of-inteligence
Question
[...], e.g. thinking strategies, emotional processing, knowing yourself, higher order reasoning, focusing=concentration.
Answer
Intrapersonal (self-understanding and insight)


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Intrapersonal (self-understanding and insight), e.g. thinking strategies, emotional processing, knowing yourself, higher order reasoning, focusing=concentration.

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#i-q #types-of-inteligence
creativity, which has sometimes been referred to as ‘the eighth intelligence’.

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Flashcard 1432878189836

Tags
#i-q #types-of-inteligence
Question
[...] has sometimes been referred to as ‘the eighth intelligence’.
Answer
Creativity


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creativity, which has sometimes been referred to as ‘the eighth intelligence’.

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#i-q #types-of-inteligence
memory must be the ninth

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Flashcard 1432881597708

Tags
#i-q #types-of-inteligence
Question
[...] must be the ninth intelligence
Answer
memory


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memory must be the ninth

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#i-q #types-of-inteligence
Often motivation and dedication are more important than a high measured IQ rating

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Flashcard 1432885529868

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#19-dic-2016 #el-financiero #noticias
Question
Datos de la CNBV muestran que entre octubre de 2015 y el mismo mes de este año las tasas de interés para las empresas grandes se elevaron de 5.64 a [...] por ciento.
Answer
7.14


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Datos de la Comisión Nacional Bancaria y de Valores (CNBV) muestran que entre octubre de 2015 y el mismo mes de este año las tasas de interés para las empresas grandes se elevaron de 5.64 a 7.14 por ciento en promedio, 1.5 puntos más.

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Impacta a Pymes alza en las tasas
, limitar su competitividad y en algunos casos son las que presentan un mayor riesgo de insolvencia, señalaron líderes empresariales, quienes indicaron que ante la actual coyuntura es necesario un plan de apoyo al financiamiento. <span>Datos de la Comisión Nacional Bancaria y de Valores (CNBV) muestran que entre octubre de 2015 y el mismo mes de este año las tasas de interés para las empresas grandes se elevaron de 5.64 a 7.14 por ciento en promedio, 1.5 puntos más. En las pequeñas empresas el aumento fue mayor, de 1.65 puntos, al pasar de 8.6 a 10.25 y en las medianas pasó de 6.93 a 8.66 por ciento, 1.73 puntos más. “Hablamos







Flashcard 1432888675596

Tags
#19-dic-2016 #el-financiero #enrique-quintana #noticias
Question
México debe fortalecer su posición negociadora acercándose a la otra superpotencia comercial: [...]
Answer
China.


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México debe fortalecer su posición negociadora acercándose a la otra superpotencia comercial: China.

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Trump y el efecto de “huevo revuelto”
rimiendo cómo conseguir aumentar la competitividad de América del Norte, en particular en el contexto de un dólar fortalecido que le ha restado competitividad a su industria. Sin embargo, como le hemos comentado en otras ocasiones, <span>México debe fortalecer su posición negociadora acercándose a la otra superpotencia comercial: China. El arribo de la empresa petrolera china CNOOC, que invertirá cerca de 8 mil millones de dólares en el Golfo de México, multiplicará por 40 veces la inversión china acumulada







Flashcard 1432890248460

Tags
#19-dic-2016 #el-financiero #noticias
Question
En las pequeñas empresas el aumento de tasas de crédito pasó de 8.6 a [...] y en las medianas pasó de 6.93 a [...] por ciento.
Answer
10.25

8.66


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En las pequeñas empresas el aumento fue mayor, de 1.65 puntos, al pasar de 8.6 a 10.25 y en las medianas pasó de 6.93 a 8.66 por ciento, 1.73 puntos más.

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Impacta a Pymes alza en las tasas
os de la Comisión Nacional Bancaria y de Valores (CNBV) muestran que entre octubre de 2015 y el mismo mes de este año las tasas de interés para las empresas grandes se elevaron de 5.64 a 7.14 por ciento en promedio, 1.5 puntos más. <span>En las pequeñas empresas el aumento fue mayor, de 1.65 puntos, al pasar de 8.6 a 10.25 y en las medianas pasó de 6.93 a 8.66 por ciento, 1.73 puntos más. “Hablamos de incentivos o apoyos en financiamientos que requieren las empresas para convertirse en proveedoras de las cadenas globales y de un programa adicional para el fina







Article 1432893394188

Cinco preguntas sobre los precios de las gasolinas
#21-dic-2016 #el-financiero #enrique-quintana #noticias

1- ¿Subirán los precios de las gasolinas a partir del 1 de enero de 2017? Casi seguramente. A diferencia de lo ocurrido en 2016, cuando se estableció una banda en la que podrían ubicarse los precios de las gasolinas en un margen de +/- 3 por ciento respecto al precio vigente al final del 2015, ahora no existe tal banda, sino la definición de una metodología que se utilizará para la fijación de los precios por parte de Hacienda. La tendencia de los precios internacionales entre el final de 2015 y la fecha actual ha sido al alza en dólares, lo que se acentúa con la depreciación del tipo de cambio, esto determinará que cuando Hacienda publique los precios máximos en las regiones en las que éstos que no se liberalicen (tiene plazo máximo al 31 de diciembre de este año) tendremos seguramente incrementos. 2- ¿Qué tienen que ver los incrementos con la liberalización de los precios? En principio, nada. Lo que hoy a las 8 de la mañana se informará por parte de la Comisión Reguladora de Energía es un calendari



#sister-miriam-joseph #trivium
The form of language is meaning

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Flashcard 1432912792844

Tags
#sister-miriam-joseph #trivium
Question
The form of language is [...]
Answer
meaning


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The form of language is meaning

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#sister-miriam-joseph #trivium
Words can symbolize both individuals and essences

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Flashcard 1432915414284

Tags
#sister-miriam-joseph #trivium
Question
Words can symbolize both [...] and [...]
Answer
individuals

essences


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Words can symbolize both individuals and essences

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#sister-miriam-joseph #trivium
The individual is any physical being that exists

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Flashcard 1432919084300

Tags
#sister-miriam-joseph #trivium
Question
The individual is any [...]
Answer
physical being that exists


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The individual is any physical being that exists

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#sister-miriam-joseph #trivium
Only the individual exists in the sense that every material being that exists or has existed is an individual, is itself and not another, and is, therefore, in its individuality unique.

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Flashcard 1432921705740

Tags
#sister-miriam-joseph #trivium
Question
Only the [...] exists in the sense that every material being that exists or has existed is [...] , is itself and not another, and is, therefore, in its [...]
Answer
individual

an individual

individuality unique.


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Only the individual exists in the sense that every material being that exists or has existed is an individual, is itself and not another, and is, therefore, in its individuality unique.

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#sister-miriam-joseph #trivium
Every man, woman, tree, stone, or grain of sand is an individual.

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Flashcard 1432925113612

Tags
#sister-miriam-joseph #trivium
Question
Every man, woman, tree, stone, or grain of sand is [...]
Answer
an individual.


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Every man, woman, tree, stone, or grain of sand is an individual.

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#sister-miriam-joseph #trivium
Essence is that which makes a being what it is and without which it would not be the kind of being it is

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Flashcard 1432927997196

Tags
#sister-miriam-joseph #trivium
Question
[...] is that which makes a being what it is and without which it would not be the kind of being it is
Answer
Essence


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Essence is that which makes a being what it is and without which it would not be the kind of being it is

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#sister-miriam-joseph #trivium
Essence is that in an individual which makes it like others in its class

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Flashcard 1432930618636

Tags
#sister-miriam-joseph #trivium
Question
Essence is that in an individual which makes it like [...]
Answer
others in its class


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Essence is that in an individual which makes it like others in its class

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#sister-miriam-joseph #trivium
individuality is what makes a being different from others in its class.

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Flashcard 1432934026508

Tags
#sister-miriam-joseph #trivium
Question
[...] is what makes a being different from others in its class.
Answer
individuality


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individuality is what makes a being different from others in its class.

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#sister-miriam-joseph #trivium
every individual belongs to a class, which in turn belongs t o a wider class, we distinguish these classes as species and genus.

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Flashcard 1432936647948

Tags
#sister-miriam-joseph #trivium
Question
every individual belongs to a class, which in turn belongs to a wider class, we distinguish these classes as [...] and [...]
Answer
species

genus.


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every individual belongs to a class, which in turn belongs t o a wider class, we distinguish these classes as species and genus.

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#sister-miriam-joseph #trivium
A species is a class made up of individuals that have in common the same specific essence or nature.

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#sister-miriam-joseph #trivium
Man is the species or class to which Shakespeare, Einstein and every other man and woman belong because the essence or nature of man is common to all of them.

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Flashcard 1432941890828

Tags
#sister-miriam-joseph #trivium
Question
Man is the [...] or [...] to which Shakespeare, Einstein and every other man and woman belong because the essence or nature of man is common to all of them.
Answer
species

class


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Man is the species or class to which Shakespeare, Einstein and every other man and woman belong because the essence or nature of man is common to all of them.

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#sister-miriam-joseph #trivium
Horse is the species or class t o which Bucephalus and every other horse belong because t he essence or nature of horse is common to all horses.

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Flashcard 1432945560844

Tags
#sister-miriam-joseph #trivium
Question
Horse is the species or class t o which Bucephalus and every other horse belong because the [...] or [...] of horse is common to all horses.
Answer
essence

nature


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Horse is the species or class t o which Bucephalus and every other horse belong because t he essence or nature of horse is common to all horses.

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#sister-miriam-joseph #trivium
A genus is a wider class made up of two or more different species that have in common the same generic essence or nature.

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Flashcard 1432948968716

Tags
#sister-miriam-joseph #trivium
Question
A [...] is a wider class made up of two or more different [...] that have in common the same generic essence or nature.
Answer
genus

species


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A genus is a wider class made up of two or more different species that have in common the same generic essence or nature.

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#sister-miriam-joseph #trivium
A genus is a wider class made up of two or more different species that have in common the same generic essence or nature.

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Flashcard 1432952638732

Tags
#sister-miriam-joseph #trivium
Question
Which class is wider Genus or Species?
Answer
A genus is a wider class made up of two or more different species that have in common the same essence or nature.


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A genus is a wider class made up of two or more different species that have in common the same generic essence or nature.

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#sister-miriam-joseph #trivium
Animal is the genus or class to which man, rabbit, horse, oyster, and every other species of animal belong because the essence or nature of animal is the same in all of them.

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Flashcard 1432956046604

Tags
#sister-miriam-joseph #trivium
Question
[...] is the genus or class to which man, rabbit, horse, oyster, and every other species of [...] belong because the essence or nature of [...] is the same in all of them.
Answer
Animal


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Animal is the genus or class to which man, rabbit, horse, oyster, and every other species of animal belong because the essence or nature of animal is the same in all of them.

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#sister-miriam-joseph #trivium
Flower is the genus to which rose, violet, tulip, and every species of flower belong because the essence or nature of flower is the same in all of them.

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Flashcard 1432959454476

Tags
#sister-miriam-joseph #trivium
Question
Flower is the [...] to which rose, violet, tulip, and every species of flower belong because the essence or nature of flower is the same in all of them.
Answer
genus


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Flower is the genus to which rose, violet, tulip, and every species of flower belong because the essence or nature of flower is the same in all of them.

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#sister-miriam-joseph #trivium
An individual animal or flower belongs to a genus only by being a member of a species within that genus.

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Flashcard 1432962075916

Tags
#sister-miriam-joseph #trivium
Question
An individual animal or flower belongs to a genus only by [...]
Answer
being a member of a species within that genus.


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An individual animal or flower belongs to a genus only by being a member of a species within that genus.

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Flashcard 1432967843084

Tags
#cfa-level-1 #economics #economics-in-a-global-context #los #reading-20-international-trade-and-capital-flows
Question
If a Greek shipping company transports the wine that the United States imports from France, the United States would classify the cost of shipping [...] from Greece and the wine would be classified as an import of goods from France.
Answer
as an import of services


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If a Greek shipping company transports the wine that the United States imports from France, the United States would classify the cost of shipping as an import of services from Greece and the wine would be classified as an import of goods from France.

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2.1. Basic Terminology
th from India and wine from France. Exports are goods and services that a domestic economy sells to other countries. For example, South Africa exports (sells) diamonds to the Netherlands, and China exports clothing to the European Union. So <span>how are services imported or exported? If a Greek shipping company transports the wine that the United States imports from France, the United States would classify the cost of shipping as an import of services from Greece and the wine would be classified as an import of goods from France. Similarly, when a British company provides insurance coverage to a South African diamond exporter, Britain would classify the cost of the insurance as an export of services to South Afr







Flashcard 1432969678092

Tags
#cfa-level-1 #economics #economics-in-a-global-context #los #reading-20-international-trade-and-capital-flows
Question
The aggregate output of a nation over a specified time period is usually measured as its [...] or its [...] t.
Answer
gross domestic product

gross national produc


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The aggregate output of a nation over a specified time period is usually measured as its gross domestic product or its gross national product.

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2.1. Basic Terminology
The aggregate output of a nation over a specified time period is usually measured as its gross domestic product or its gross national product. Gross domestic product (GDP) measures the market value of all final goods and services produced by factors of production (such as labor and capital) located within a country/







Flashcard 1432972299532

Tags
#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
microeconomics classifies private economic units into two groups: [...] and [...]
Answer
consumers (or households)

firms.


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microeconomics classifies private economic units into two groups: consumers (or households) and firms.

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1. INTRODUCTION
and the cost to the seller of that unit. In private enterprise market economies, which are the chief concern of investment analysts, demand and supply analysis encompasses the most basic set of microeconomic tools. Traditionally, <span>microeconomics classifies private economic units into two groups: consumers (or households) and firms. These two groups give rise, respectively, to the theory of the consumer and theory of the firm as two branches of study. The theory of the consumer deals with consumption (the deman







Flashcard 1432975183116

Tags
#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
households typically choose to spend less on consumption than they earn from their labor. This behavior is called [...]
Answer


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households typically choose to spend less on consumption than they earn from their labor. This behavior is called saving , through which households can accumulate financial capital, the returns on which can produce other sources of household income, such as interest, dividends, and capital gains. Househol

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2. TYPES OF MARKETS
they judge that the value of the productivity of workers is greater than the cost of employing them. A major source of household income and a major cost to firms is compensation paid in exchange for labor services. Additionally, <span>households typically choose to spend less on consumption than they earn from their labor. This behavior is called saving , through which households can accumulate financial capital, the returns on which can produce other sources of household income, such as interest, dividends, and capital gains. Households may choose to lend their accumulated savings (in exchange for interest) or invest it in ownership claims in firms (in hopes of receiving dividends and capital gains). Households make these savings choices when their anticipated future returns are judged to be more valuable today than the present consumption that households must sacrifice when they save. Indeed, a major purpose of financial institutions and markets is to enable the transfer of these savings into capital investments. Firms use capital markets (markets for







#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Households make savings choices when their anticipated future returns are judged to be more valuable today than the present consumption that households must sacrifice when they save.

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ousehold income, such as interest, dividends, and capital gains. Households may choose to lend their accumulated savings (in exchange for interest) or invest it in ownership claims in firms (in hopes of receiving dividends and capital gains). <span>Households make these savings choices when their anticipated future returns are judged to be more valuable today than the present consumption that households must sacrifice when they save.<span><body><html>

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2. TYPES OF MARKETS
they judge that the value of the productivity of workers is greater than the cost of employing them. A major source of household income and a major cost to firms is compensation paid in exchange for labor services. Additionally, <span>households typically choose to spend less on consumption than they earn from their labor. This behavior is called saving , through which households can accumulate financial capital, the returns on which can produce other sources of household income, such as interest, dividends, and capital gains. Households may choose to lend their accumulated savings (in exchange for interest) or invest it in ownership claims in firms (in hopes of receiving dividends and capital gains). Households make these savings choices when their anticipated future returns are judged to be more valuable today than the present consumption that households must sacrifice when they save. Indeed, a major purpose of financial institutions and markets is to enable the transfer of these savings into capital investments. Firms use capital markets (markets for




#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Households may choose to lend their accumulated savings (in exchange for interest) or invest it in ownership claims in firms (in hopes of receiving dividends and capital gains).

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Through, saving households can accumulate financial capital, the returns on which can produce other sources of household income, such as interest, dividends, and capital gains. Households may choose to lend their accumulated savings (in exchange for interest) or invest it in ownership claims in firms (in hopes of receiving dividends and capital gains).

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2. TYPES OF MARKETS
they judge that the value of the productivity of workers is greater than the cost of employing them. A major source of household income and a major cost to firms is compensation paid in exchange for labor services. Additionally, <span>households typically choose to spend less on consumption than they earn from their labor. This behavior is called saving , through which households can accumulate financial capital, the returns on which can produce other sources of household income, such as interest, dividends, and capital gains. Households may choose to lend their accumulated savings (in exchange for interest) or invest it in ownership claims in firms (in hopes of receiving dividends and capital gains). Households make these savings choices when their anticipated future returns are judged to be more valuable today than the present consumption that households must sacrifice when they save. Indeed, a major purpose of financial institutions and markets is to enable the transfer of these savings into capital investments. Firms use capital markets (markets for




Flashcard 1432985668876

Tags
#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
A major purpose of financial institutions and markets is to enable the transfer of savings into [...]
Answer
capital investments.


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A major purpose of financial institutions and markets is to enable the transfer of savings into capital investments.

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2. TYPES OF MARKETS
receiving dividends and capital gains). Households make these savings choices when their anticipated future returns are judged to be more valuable today than the present consumption that households must sacrifice when they save. <span>Indeed, a major purpose of financial institutions and markets is to enable the transfer of these savings into capital investments. Firms use capital markets (markets for long-term financial capital—that is, markets for long-term claims on firms’ assets and cash flows) to sell debt (in bond markets) or equity (in







Flashcard 1432987241740

Tags
#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
A major purpose of [...] and markets is to enable the transfer of savings into capital investments.
Answer
financial institutions


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A major purpose of financial institutions and markets is to enable the transfer of savings into capital investments.

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2. TYPES OF MARKETS
receiving dividends and capital gains). Households make these savings choices when their anticipated future returns are judged to be more valuable today than the present consumption that households must sacrifice when they save. <span>Indeed, a major purpose of financial institutions and markets is to enable the transfer of these savings into capital investments. Firms use capital markets (markets for long-term financial capital—that is, markets for long-term claims on firms’ assets and cash flows) to sell debt (in bond markets) or equity (in







Flashcard 1432988814604

Tags
#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Whenever the perceived value of a good exceeds the expected cost to produce it, a potential [...]. This fact may seem obvious, but it is fundamental to our understanding of markets.
Answer
trade can take place


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Whenever the perceived value of a good exceeds the expected cost to produce it, a potential trade can take place. This fact may seem obvious, but it is fundamental to our understanding of markets.

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2. TYPES OF MARKETS
n goods markets: firms are sellers and both households and firms are buyers. For example, firms are buyers of capital goods (such as equipment) and intermediate goods, while households are buyers of a variety of durable and non-durable goods. <span>Generally, market interactions are voluntary. Firms offer their products for sale when they believe the payment they will receive exceeds their cost of production. Households are willing to purchase goods and services when the value they expect to receive from them exceeds the payment necessary to acquire them. Whenever the perceived value of a good exceeds the expected cost to produce it, a potential trade can take place. This fact may seem obvious, but it is fundamental to our understanding of markets. If a buyer values something more than a seller, not only is there an opportunity for an exchange, but that exchange will make both parties better off. In one type of factor market, called labor markets , households offer to sell their labor services when the payment they expect to receive exceeds the value of the leisure







Flashcard 1432990387468

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#rules-of-formulating-knowledge
Question
Rule 7 of formulating knowledge

[...] make remembering easier.
Answer
Mnemonic techniques


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Rule 7 of formulating knowledge Mnemonic techniques are various techniques that make remembering easier.

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7. Use mnemonic techniques
Mnemonic techniques are various techniques that make remembering easier. They are often amazingly effective. For most students, a picture of a 10-year-old memorizing a sequence of 50 playing cards verges on discovering a young genius. It is very surprising t







Flashcard 1432993008908

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#13-dic-2016 #mural
Question
Según estimaciones de la Cámara Nacional del Autotransporte de Carga, el precio del diesel subirá entre [...] por ciento para el siguiente año.

Answer
15 y 20


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Según estimaciones de la Cámara Nacional del Autotransporte de Carga, el precio del diesel subirá entre 15 y 20 por ciento para el siguiente año. Este aumento, considera la Cámara, podría ser trasladado al costo del flete, el cual podría subir entre 6 y 8 por ciento, pero eso dependerá

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Encarecerá combustible mercancías
Para 2017 se espera que se encarezcan las mercancías por efecto del gasolinazo. Según estimaciones de la Cámara Nacional del Autotransporte de Carga, el precio del diesel subirá entre 15 y 20 por ciento para el siguiente año. Este aumento, considera la Cámara, podría ser trasladado al costo del flete, el cual podría subir entre 6 y 8 por ciento, pero eso dependerá de las negociaciones que cada transportista logre con sus clientes. Refugio Muñoz, vicepresidente ejecutivo de ese órgano empresarial, explicó que el combustible representa, en promedio, entre 30 y 35 por ciento de los costos operativos de lo







Flashcard 1432995368204

Tags
#13-dic-2016 #mural
Question
El aumento del diesel podría ser trasladado al costo del flete, el cual podría subir entre [...] por ciento.
Answer
6 y 8


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de la Cámara Nacional del Autotransporte de Carga, el precio del diesel subirá entre 15 y 20 por ciento para el siguiente año. Este aumento, considera la Cámara, podría ser trasladado al costo del flete, el cual podría subir entre <span>6 y 8 por ciento, pero eso dependerá de las negociaciones que cada transportista logre con sus clientes.<span><body><html>

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Encarecerá combustible mercancías
Para 2017 se espera que se encarezcan las mercancías por efecto del gasolinazo. Según estimaciones de la Cámara Nacional del Autotransporte de Carga, el precio del diesel subirá entre 15 y 20 por ciento para el siguiente año. Este aumento, considera la Cámara, podría ser trasladado al costo del flete, el cual podría subir entre 6 y 8 por ciento, pero eso dependerá de las negociaciones que cada transportista logre con sus clientes. Refugio Muñoz, vicepresidente ejecutivo de ese órgano empresarial, explicó que el combustible representa, en promedio, entre 30 y 35 por ciento de los costos operativos de lo







Flashcard 1432997989644

Tags
#trivium #wikipedia
Question
In metaphysics, extension means stretching out (Latin: extensio) as well as later 'taking up space', and most recently, spreading one's [...]
Answer
internal mental cognition into the external world.


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In metaphysics, extension signifies both 'stretching out' (Latin: extensio) as well as later 'taking up space', and most recently, spreading one's internal mental cognition into the external world.

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Extension (metaphysics) - Wikipedia
an>Extension (metaphysics) - Wikipedia Extension (metaphysics) From Wikipedia, the free encyclopedia Jump to: navigation, search In metaphysics, extension signifies both 'stretching out' (Latin: extensio) as well as later 'taking up space', and most recently, spreading one's internal mental cognition into the external world. The history of thinking about extension can be traced back at least to Archytas' spear analogy for the infinity of space. How far can one's hand or spear stretch out until it reaches







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Tags
#aristotle #five-intelectual-virtues #trivium
Question

Aristotle analyzed virtues into moral and intellectual virtues

  • Theoretical
    • [...]
    • [...]
    • Nous – reason
Answer
Sophia – wisdom

Episteme – scientific knowledge, empirical knowledge


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r Analytics and Nicomachean Ethics he identified five intellectual virtues as the five ways the soul arrives at truth by affirmation or denial. These are then separated into three classes: Theoretical Sophia – wisdom <span>Episteme – scientific knowledge, empirical knowledge Nous – reason Practical Phronesis – practical wisdom/prudence Productive Techne – craft knowledge, art, skill Subjacent intellectual v

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Intellectual virtue - Wikipedia
ct thinking. They include: a sense of justice, perseverance, empathy, integrity, intellectual courage, confidence in reason, and autonomy. Contents [hide] 1 Aristotle 2 See also 3 References 4 External links Aristotle[edit] <span>Aristotle analyzed virtues into moral and intellectual virtues (or dianoetic virtues, from the Greek aretai dianoetikai). In the Posterior Analytics and Nicomachean Ethics he identified five intellectual virtues as the five ways the soul arrives at truth by affirmation or denial. These are then separated into three classes: Theoretical Sophia – wisdom Episteme – scientific knowledge, empirical knowledge Nous – reason Practical Phronesis – practical wisdom/prudence Productive Techne – craft knowledge, art, skill Subjacent intellectual virtues in Aristotle: Euboulia – deliberating well, deliberative excellence; thinking properly about the right end. Sunesis – understanding, sagacity, astuteness, consciousness of why something is as it is. For example, the understanding you have of why a situation is as it is, prior to having phronesis. Gnomê – judgement and consideration; allowing us to make equitable or fair decisions. Deinotes – cleverness; the ability to carry out actions so as to achieve a goal. See also[edit] Critical thinking Epistemic virtue Intellectual dishonesty Paideia Virtue ethics References[edit] Aristotle Nicomachean Ethics Book VI R. M. Paul Critical thi







Flashcard 1433003232524

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#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Question
An indifference curve map represents our consumer’s [...]
Answer
entire utility function.


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An indifference curve map represents our consumer’s entire utility function.

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3. UTILITY THEORY: MODELING PREFERENCES AND TASTES
and lying above and to the right of the first one. Indeed, we could construct any number of indifference curves in the same manner simply by starting at a different initial bundle. The result is an entire family of indifference curves, called <span>an indifference curve map , and it represents our consumer’s entire utility function. The word map is appropriate because the entire set of indifference curves comprises a contour map of this consumer’s utility function. Each contour, or indifference curve, is a set of p







Flashcard 1433004805388

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#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Question
When two consumers have different preferences, they will have different [...] when evaluated at identical bundles.
Answer
marginal rates of substitution


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When two consumers have different preferences, they will have different marginal rates of substitution when evaluated at identical bundles.

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3. UTILITY THEORY: MODELING PREFERENCES AND TASTES
observe that Warren has a relatively stronger preference for bread compared to Smith, and Smith has a relatively stronger preference for wine than Warren. Exhibit 5. Two Consumers with Different Preferences Note: <span>When two consumers have different preferences, they will have different marginal rates of substitution when evaluated at identical bundles. Here, Warren has a relatively strong preference for bread because he is willing to give up more wine for another slice of bread than is Smith. Suppose that the slope of Warren’s indifference curve at point a is equal to −2, and the slope of Smith’s indifference curve at point a is equal to – 12 . Warren is willing







Flashcard 1433007426828

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#cfa-level-1 #economics #economics-in-a-global-context #los #reading-20-international-trade-and-capital-flows
Question
Gross domestic product (GDP) measures a given period of time, generally a [...] or [...]
Answer
year

a quarter.


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Gross domestic product (GDP) measures the market value of all final goods and services produced by factors of production (such as labor and capital) located within a country/economy during a given period of time, generally a year or a quarter.<html>

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2.1. Basic Terminology
The aggregate output of a nation over a specified time period is usually measured as its gross domestic product or its gross national product. Gross domestic product (GDP) measures the market value of all final goods and services produced by factors of production (such as labor and capital) located within a country/economy during a given period of time, generally a year or a quarter. Gross national product (GNP), however, measures the market value of all final goods and services produced by factors of production (such as labor and capital) supplied by res







Flashcard 1433010572556

Tags
#cfa-level-1 #economics #economics-in-a-global-context #los #reading-20-international-trade-and-capital-flows
Question

An open economy can provide domestic households with [...], give domestic companies access to global markets and customers, and offer goods and services that are more competitively priced.

Answer
a larger variety of goods and services


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untries. If there are no restrictions on trade, then members of an open economy can buy and sell goods and services at the price prevailing in the world market, the world price . An open economy can provide domestic households with <span>a larger variety of goods and services, give domestic companies access to global markets and customers, and offer goods and services that are more competitively priced. In addition, it can offer domestic investors

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2.1. Basic Terminology
ods and services are produced and consumed domestically. The price of a good or service in such an economy is called its autarkic price . An autarkic economy is also known as a closed economy because it does not trade with other countries. <span>An open economy , in contrast, is an economy that trades with other countries. If there are no restrictions on trade, then members of an open economy can buy and sell goods and services at the price prevailing in the world market, the world price . An open economy can provide domestic households with a larger variety of goods and services, give domestic companies access to global markets and customers, and offer goods and services that are more competitively priced. In addition, it can offer domestic investors access to foreign capital markets, foreign assets, and greater investment opportunities. For capital intensive industries, such as automobiles and aircraft, manufacturers can take advantage of economies of scale because they have access to a much larger market. Free trade occurs when there are no government restrictions on a country’s ability to trade. Under free trade, global aggregate demand and supply determine the equilibrium quantity an







Flashcard 1433012931852

Tags
#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Answer


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The theory of the consumer deals with consumption (the demand for goods and services) by utility-maximizing individuals (i.e., individuals who make decisions that maximize the satisfaction received from present and future consumption)<

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1. INTRODUCTION
3; Traditionally, microeconomics classifies private economic units into two groups: consumers (or households) and firms. These two groups give rise, respectively, to the theory of the consumer and theory of the firm as two branches of study. <span>The theory of the consumer deals with consumption (the demand for goods and services) by utility-maximizing individuals (i.e., individuals who make decisions that maximize the satisfaction received from present and future consumption). The theory of the firm deals with the supply of goods and services by profit-maximizing firms. The theory of the consumer and the theory of the firm are important because they help u







Flashcard 1433015291148

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
the law of demand simply states [...]
Answer
the inverse relationship between the quantity demanded and the price


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the law of demand that simply states the inverse relationship between the quantity demanded and the price

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4.1. Own-Price Elasticity of Demand
d the concept of a demand function with Equation 1 earlier, we were simply theorizing that quantity demanded of some good, such as gasoline, is dependent on several other variables, one of which is the price of gasoline itself. We referred to <span>the law of demand that simply states the inverse relationship between the quantity demanded and the price. Although that observation is useful, we might want to dig a little deeper and ask, Just how sensitive is quantity demanded to changes in the price of gasoline? Is it highly sensitive,







Flashcard 1433017912588

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
The total variable cost (variable cost per unit times units produced) is measured by the area [...], and it is a little more complicated to understand.
Answer
beneath the supply curve


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The total variable cost (variable cost per unit times units produced) is measured by the area beneath the supply curve, and it is a little more complicated to understand. Recall that the supply curve represents the lowest price that sellers would be willing to accept for each additional unit of a good.

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3.10. Producer Surplus—Revenue minus Variable Cost
the total variable cost of producing that amount, on the other hand. Variable costs are those costs that change when the level of output changes. Total revenue is simply the total quantity sold multiplied by the price per unit. <span>The total variable cost (variable cost per unit times units produced) is measured by the area beneath the supply curve, and it is a little more complicated to understand. Recall that the supply curve represents the lowest price that sellers would be willing to accept for each additional unit of a good. In general, that amount is the cost of producing that next unit, called marginal cost . Clearly, a seller would never intend to sell a unit of a good for a price lower than its marginal cost, because she would lose money on that unit. Alternatively, a producer should be







Flashcard 1433020271884

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Recall that the supply curve represents the lowest price that sellers would be willing to accept for each additional unit of a good. In general, that amount is the cost of producing that next unit, called [...]
Answer


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ittle more complicated to understand. Recall that the supply curve represents the lowest price that sellers would be willing to accept for each additional unit of a good. In general, that amount is the cost of producing that next unit, called <span>marginal cost<span><body><html>

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3.10. Producer Surplus—Revenue minus Variable Cost
the total variable cost of producing that amount, on the other hand. Variable costs are those costs that change when the level of output changes. Total revenue is simply the total quantity sold multiplied by the price per unit. <span>The total variable cost (variable cost per unit times units produced) is measured by the area beneath the supply curve, and it is a little more complicated to understand. Recall that the supply curve represents the lowest price that sellers would be willing to accept for each additional unit of a good. In general, that amount is the cost of producing that next unit, called marginal cost . Clearly, a seller would never intend to sell a unit of a good for a price lower than its marginal cost, because she would lose money on that unit. Alternatively, a producer should be







Flashcard 1433023417612

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
The costs of matching buyers with sellers are generally referred to as [...]
Answer


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ing to pay a price higher than some seller’s lowest acceptable price, but if the two cannot find one another, there will be no transaction, resulting in a deadweight loss. The costs of matching buyers with sellers are generally referred to as <span>search costs , and they arise because of frictions inherent in the matching process. When these costs are significant, an opportunity may arise for a third party to provide a valuable service by red

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3.13. Market Interference: The Negative Impact on Total Surplus
ium price can cause imbalances as well. In the simple model of demand and supply, it is assumed that buyers and sellers can interact without cost. Often, however, there can be costs associated with finding a buyer’s or a seller’s counterpart. <span>There could be a buyer who is willing to pay a price higher than some seller’s lowest acceptable price, but if the two cannot find one another, there will be no transaction, resulting in a deadweight loss. The costs of matching buyers with sellers are generally referred to as search costs , and they arise because of frictions inherent in the matching process. When these costs are significant, an opportunity may arise for a third party to provide a valuable service by reducing those costs. This role is played by brokers. Brokers do not actually become owners of a good or service that is being bought, but they serve the role of locating buyers for sellers or sellers for buyers. (Dealers, however, actuall







Flashcard 1433025776908

Tags
#algebra-baldor
Question
[...] es la rama de la Matemática que estudia la cantidad considerada del modo más general posible.
Answer
ALGEBRA


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ALGEBRA es la rama de la Matemática que estudia la cantidad considerada del modo más general posible.

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Flashcard 1433027611916

Tags
#algebra-baldor
Question
Cuando una letra no tiene exponente, su exponente es [...]
Answer
la unidad.


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Cuando una letra no tiene exponente, su exponente es la unidad.

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Flashcard 1433029709068

Tags
#13-dic-2016 #el-financiero
Question
La mejor contribución que hace la política monetaria al crecimiento económico es [...], que se traduce en un ambiente de mayor confianza
Answer
mantener la inflación baja


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La mejor contribución que hace la política monetaria al crecimiento económico es mantener la inflación baja, que se traduce en un ambiente de mayor confianza

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Carstens fue muy importante, pero el Banxico va a seguir
mi salida. En ese contexto, puede destacarse en estos años una mayor apertura. Banxico ha publicado una serie de documentos que reflejan una mayor transparencia, en particular las minutas de las reuniones de política monetaria. <span>La mejor contribución que hace la política monetaria al crecimiento económico es mantener la inflación baja, que se traduce en un ambiente de mayor confianza También podemos hacer muy bien nuestro trabajo fortaleciendo la institución o hacerlo muy mal, debilitando la institución Son una pieza de informa







Flashcard 1433031281932

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
A good could be normal for one [...] and inferior for another [...].
Answer
income group

income group


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Ultimately, whether a good is called inferior or normal is simply a matter of empirical statistical analysis. And a good could be normal for one income group and inferior for another income group. (A BMW 3-series automobile might very well be normal for a moderate-income group but inferior for a high-income group of consumers. As their respe

Original toplevel document

4.3. Income Elasticity of Demand: Normal and Inferior Goods
ts of meat. One study found that income elasticity of demand for beer is slightly negative, whereas income elasticity of demand for wine is significantly positive. An economist would therefore say that beer is inferior whereas wine is normal. <span>Ultimately, whether a good is called inferior or normal is simply a matter of empirical statistical analysis. And a good could be normal for one income group and inferior for another income group. (A BMW 3-series automobile might very well be normal for a moderate-income group but inferior for a high-income group of consumers. As their respective income levels rose, the moderate group might purchase more BMWs whereas the upper-income group might buy fewer 3-series as they traded up to a 5- or 7-series.) Clearly, for some goods and some ranges of income, consumer income might not have an impact on purchase decision at all. Hence for those goods, income elasticity of demand is zero. &#13







Flashcard 1433034689804

Tags
#italian #italian-grammar
Question
Verbs normally have two voices: [...] and [...]
Answer
active

passive.


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Verbs normally have two voices: active and passive.

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#italian #italian-grammar #noun-patterns
The gender and number determine the ending of the noun. These patterns of endings are called inflexions.

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Flashcard 1433040194828

Tags
#italian #italian-grammar #noun-patterns
Question
The gender and number determine the ending of the noun. These patterns of endings are called [...].
Answer
inflexions


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The gender and number determine the ending of the noun. These patterns of endings are called inflexions.

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Noun Paterns
#has-images #italian #italian-grammar #noun-patterns

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