Tài liệu Ten Principles of Economics - Part 37 doc

... Microsoft was an equally promi-nent economist (MIT professor Richard Schmalensee). At stake was the future of one of the world’s most valuable companies (Microsoft) in one of the econ-omy’s ... rising profit (that is, de-clining losses).This process of entry and exit continues until the firms in the market are mak-ing exactly zero economic profit. Figure 1 7-2 depicts the long-run equilibrium.Once ... natural next step.One point of disagreement concerned the extent of Microsoft’s marketpower. Noting that more than 80 percent of new personal computers used aMicrosoft operating system, the government...

Tài liệu Ten Principles of Economics - Part 12 docx

... elastic)Quantity of Apartments0SupplyControlled rentShortageRentalPrice of Apartment0RentalPrice of ApartmentQuantity of ApartmentsDemandSupplyControlled rentShortageDemandFigure 6-3 RENTCONTROL ... Binding$43Quantity of Ice-CreamCones0Price of Ice-CreamCone100Equilibriumquantity(b) A Price Ceiling That Is Binding$3Quantity of Ice-CreamCones0Price of Ice-CreamCone2PriceceilingDemandSupplyPriceceilingShortage75Quantitysupplied125QuantitydemandedEquilibriumpriceEquilibriumpriceDemandSupplyFigure ... The energy crisis of the 1970s, too, was blamed on na-ture’s niggardly supply of oil, but in factit was the actions of the Organization of Petroleum Exporting Countries, com-bined with price...

Tài liệu Ten Principles of Economics - Part 13 doc

... line. Many are teenagers frommiddle-class homes working at part- time jobs for extra spending money.EVALUATING PRICE CONTROLSOne of the Ten Principles of Economics discussed in Chapter 1 is ... left (or, equiva-lently, downward), as shown in Figure 6-6 .tax incidencethe study of who bears the burden of taxation$3.303.002.80Quantity of Ice-Cream Cones0Price of Ice-CreamConePricewithouttaxPricesellersreceive10090Equilibriumwith ... equilib-rium price.(a) A Price Floor That Is Not Binding$32Quantity of Ice-CreamCones0Price of Ice-CreamCone100Equilibriumquantity(b) A Price Floor That Is Binding$4Quantity of Ice-CreamCones0Price...

Tài liệu Ten Principles of Economics - Part 54 docx

... Intel stock is a part owner of Intel; the owner of an Intelbond is a creditor of the corporation. If Intel is very profitable, the stockholders en-joy the benefits of these profits, whereas the ... to the profits that the firm makes. For example,if Intel sells a total of 1,000,000 shares of stock, then each share represents owner-ship of 1/1,000,000 of the business.The sale of stock ... forever, but the princi-pal is never repaid.) The interest rate on a bond depends, in part, on its term. Long-term bonds are riskier than short-term bonds because holders of long-term bondshave...

Tài liệu Ten Principles of Economics - Part 55 docx

... are often skeptical of this second argument.With thousands of money managers paying close attention to each company’sprospects, the price of a company’s stock is usually a good reflection of ... U.S. policymakers view the lowlevel of U.S. saving as a major problem. One of the Ten Principles of Economics inChapter 1 is that a country’s standard of living depends on its ability to producegoods ... behavior of people who want to save (the sup-pliers of loanable funds) and the behavior of people who want to invest (the de-manders of loanable funds).We can now use this analysis of the market...

Tài liệu Ten Principles of Economics - Part 58 doc

... com-pared with 57 percent of nonunionworkers, said Barry Bluestone, a labor-friendly economics professor at the Uni-versity of Massachusetts.The conclusion draws no argumenteven from Prof. ... some of them and offered each a$500 bonus if they found new jobs within 11 weeks. This group was then com-pared to a control group not offered the incentive. The average spell of unemploy-ment ... workers an incentive to put for-ward their best effort.This particular type of efficiency-wage theory is similar to the old Marxist idea of the “reserve army of the unemployed.” Marx thought...

Tài liệu Ten Principles of Economics - Part 60 doc

... supply canprofoundly affect the economy. One of the Ten Principles of Economics in Chapter 1is that prices rise when the government prints too much money. Another of the Ten Principles of Economics ... 617On the left-hand side of the T-account are the bank’s assets of $100 (the reserves itholds in its vaults). On the right-hand side of the T-account are the bank’s liabili-ties of $100 (the ... example of commodity money is cigarettes. In prisoner -of- war campsduring World War II, prisoners traded goods and services with one another usingcigarettes as the store of value, unit of account,...

Tài liệu Ten Principles of Economics - Part 19 docx

... States would nottolerate the “flooding of our markets”with low-cost goods from Asia and Rus-sia, particularly steel, that are threaten-ing the jobs of American workers.The President’s statement ... forcehere that may lead to a softening of the Russian position: namely Russianconsumers.Russian consumers favor the Amer-ican birds, which despite the dire warn-ings of the Russian government, ... of the tariff is the sum of these two triangles.THE EFFECTS OF AN IMPORT QUOTAThe Isolandian economists next consider the effects of an import quota—a limit onthe quantity of imports. In particular,...

Tài liệu Ten Principles of Economics - Part 21 doc

... type of technology policy that most economists endorse is patent pro-tection. The patent laws protect the rights of inventors by giving them exclusiveuse of their inventions for a period of time. ... foundations in part because education has positive externalities for society.The private market can often solve the problem of externalities by relying onthe self-interest of the relevant parties. ... allocation of resources,the government can respond in one of two ways. Command-and-control policies reg-ulate behavior directly. Market-based policies provide incentives so that private de-cisionmakers...

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