Ten principles of economics ppsx

... important parts of the body fit together. Of course, these plastic models CHAPTER 1 TEN PRINCIPLES OF ECONOMICS 7 thinking at the margin. Imagine that a plane is about to take off with ten empty seats, ... less of the other. When the economy moves from point A to point C, for instance, society produces more computers but at the ex- pense of producing fewer cars. Another of...

Ngày tải lên: 03/07/2014, 10:20

... amount of income— $100,000 in our example—were fixed. But, in fact, it is not. Utilitarians reject com- plete equalization of incomes because they accept one of the Ten Principles of Economics ... extent, the goal of utilitarians is to ap- ply the logic of individual decisionmaking to questions concerning morality and public policy. The starting point of utilitarianism is...

Ngày tải lên: 18/10/2013, 00:15

... effect on labor supply of winning such a large prize is substantial. Similar results were found in a study, published in the May 1993 issue of the Quarterly Journal of Economics, of how receiving a ... cutting back on the luxury of meat and buying more of the staple food of potatoes. Thus, it is argued that a higher price of potatoes actually raised the quantity of potatoes...

Ngày tải lên: 24/10/2013, 18:15

... the health of our children, the quality of their education, or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate ... Americans. 506 PART EIGHT THE DATA OF MACROECONOMICS CASE STUDY INTERNATIONAL DIFFERENCES IN GDP AND THE QUALITY OF LIFE One way to gauge the usefulness of GDP as a measu...

Ngày tải lên: 29/10/2013, 01:15

... Bureau of Labor Statistics did revise the basket of goods B EHIND EVERY MACROECONOMIC STATISTIC are thousands of individual pieces of data on the economy. This article fol- lows some of the people ... a higher or lower standard of liv- ing than today’s players. MEASURING THE COST OF LIVING 508 PART EIGHT THE DATA OF MACROECONOMICS maternal mortality, higher rates of child ma...

Ngày tải lên: 29/10/2013, 01:15

... ideas. In the rest of this chapter, we look at Ten Principles of Economics. These principles recur throughout this book and are introduced here to give you an overview of what economics is all ... changes small incremental adjustments to a plan of action CHAPTER 1 TEN PRINCIPLES OF ECONOMICS 7 thinking at the margin. Imagine that a plane is about to take off with te...

Ngày tải lên: 08/11/2013, 00:15

... CHAPTER 1 TEN PRINCIPLES OF ECONOMICS 15 monetary and fiscal policy are potentially so powerful, how policymakers should use these instruments to control the economy, if at all, is a subject of continuing debate. QUICK ... task. The field of economics is based on a few basic ideas that can be applied in many dif- ferent situations. Throughout this book we will refer back to the...

Ngày tải lên: 08/11/2013, 00:15

... source of the inefficiency were eliminated, the economy could move from point B to point A, increasing production of both cars (to 700) and computers (to 2,000). One of the Ten Principles of Economics ... less of the other. When the economy moves from point A to point C, for instance, society produces more computers but at the ex- pense of producing fewer cars. Another of...

Ngày tải lên: 08/11/2013, 00:15

... well-being of others? Explain. 2. Suppose that the residents of Vegopia spend all of their income on cauliflower, broccoli, and carrots. In 2001 they buy 100 heads of cauliflower for $200, 50 bunches of ... that nominal and real interest rates often do not move together. S OURCE : U.S. Department of Labor; U.S. Department of Treasury. CHAPTER 23 MEASURING THE COST OF LIVING 51...

Ngày tải lên: 08/11/2013, 00:15