Tài liệu PRINCIPLES OF ECONOMICS: Carl Menger ppt

... the explanation of a phenomenon. If we explain the economic character of goods of first order by that of goods of sec- ond order, the latter by the economic character of goods of third order, ... satisfaction of their special needs but to the satisfaction of the needs of the totality of individuals com- 112 Principles of Economics 18 “Zweckvermögen.”—TR. posing the e...

Ngày tải lên: 20/02/2014, 16:20

... common constitutional space of complementary constitutions offers a good approach to develop principles of unity and diversity. 2. Principles Promoting Unity a) Realisation of Goals or Integration ... has become one of the central tasks of the nascent field of European constitutional law. 3. Principles Protecting Diversity Principles protecting diversity became necessary...

Ngày tải lên: 18/02/2014, 11:20

... I’ll produce 24 pounds of meat and 2 pounds of potatoes. After I give you 3 pounds of meat in exchange for 1 pound of potatoes, I’ll have 21 pounds of meat and 3 pounds of potatoes. In the end, ... the various mixes of output that an economy can produce. It illustrates one of the Ten Principles of Economics in Chapter 1: People face tradeoffs. Here the farmer faces a trade...

Ngày tải lên: 15/12/2013, 11:15

... QUIZ: List the determinants of the quantity of pizza you demand. ◆ Make up an example of a demand schedule for pizza, and graph the implied demand curve. ◆ Give an example of something that would ... change in the price of pizza shift this demand curve? Price of Cigarettes, per Pack Number of Cigarettes Smoked per Day D 2 D 1 01020 $2.00 BA (a) A Shift in the Demand Curve Price...

Ngày tải lên: 15/12/2013, 11:15

... percentage change in the price of the second good price elasticity of supply a measure of how much the quantity supplied of a good responds to a change in the price of that good, computed as the ... either of these sets of data, the statisticians would need to take account of other factors that affect attendance— weather, population, size of collection, and so forth—to isola...

Ngày tải lên: 15/12/2013, 11:15

... the typical spell of unemployment lasts. HOW IS UNEMPLOYMENT MEASURED? Measuring unemployment is the job of the Bureau of Labor Statistics (BLS), which is part of the Department of Labor. Every ... goods and services. Although some degree of unemployment is inevitable in a complex economy with thousands of firms and millions of workers, the amount of unemployment varies subs...

Ngày tải lên: 15/12/2013, 11:15

... variety of interesting problems for eco- nomic theory. Some of these problems were highlighted in our description of the theory of efficiency wages. These prob- lems, however, go beyond the study of ... surplus of workers, it might seem profitable to reduce the wage it is offering. But by reducing the wage, the firm induces an adverse change in the mix of workers. In this case,...

Ngày tải lên: 15/12/2013, 11:15

... the value of the unit of account falls by half. A similar change would occur if the gov- ernment were to reduce the length of the yard from 36 to 18 inches: As a result of the new unit of measurement, ... velocity of money, we divide the nominal value of output (nominal GDP) by the quantity of money. If P is the price level (the GDP deflator), Y the quantity of output (real...

Ngày tải lên: 15/12/2013, 11:15

... outcomes: efficiency the property of a resource allocation of maximizing the total surplus received by all members of society equity the fairness of the distribution of well-being among the members of society 154 ... the producer surplus of all sellers. Quantity of Houses Painted Quantity of Houses Painted Price of House Painting 500 800 $900 0 Supply 600 1234 (b) Price =...

Ngày tải lên: 24/12/2013, 17:15