schaum s easy outline of principles of economics based on schaum s outline of theory and problems of principl phần 5 ppsx

... Statistics Schaum s Easy Outline: Trigonometry Schaum s Easy Outline: Business Statistics Schaum s Easy Outline: Principles of Accounting Schaum s Easy Outline: Applied Physics Schaum s Easy Outline: Biology Schaum s ... Spanish Schaum s Easy Outline: Writing and Grammar SCHAUM S Easy OUTLINES P RINCIPLES OF E CONOMICS Based on Schaum s Outli...

Ngày tải lên: 09/08/2014, 19:22

... larger quantity of consumer goods and services in the future because of addi- tions to the economy s stock of capital resources. Here the economy s productive capabilities and thus production-possibilities ... the price of taxi rides is increased. 24 PRINCIPLES OF ECONOMICS E S is a pure number and is positive because price and quantity move in the same direction. S...

Ngày tải lên: 09/08/2014, 19:22

... GDP. 30 PRINCIPLES OF ECONOMICS is largely determined by personal income, income taxes, consumer expectations, consumer indebted- ness, wealth, and price level. Since consumption is impossible ... billion; for consumption function CЉ there is less saving at each level of disposable income than there is for consumption function CЈ. 38 PRINCIPLES OF ECONOMICS aggregate demand o...

Ngày tải lên: 09/08/2014, 19:22

... Figure 4-2, autonomous consumption is $50 , the amount consumed when the consumption line CЈ intersects the vertical axis and disposable income is 0. Since autonomous consumption is un- related ... income, autonomous consumption is $50 for all levels of in- come. Induced consumption is the amount of consumption that depends upon the receipt of income. Consumption is $370 when disposab...

Ngày tải lên: 09/08/2014, 19:22

... 66 PRINCIPLES OF ECONOMICS Depository institutions (commercial banks, savings and loan associ- ations, and credit unions) borrow savers’ money balances and lend them to individuals, businesses, ... its net tax revenues and/ or spending. Fiscal policy, however, is not as easily implemented or as successful as first suggested. Suppose a recessionary gap exists. Will Congress and t...

Ngày tải lên: 09/08/2014, 19:22

... steeply sloped, demand increases have a smaller effect upon output than when aggregate supply is less steeply sloped. 80 PRINCIPLES OF ECONOMICS 84 PRINCIPLES OF ECONOMICS Supply-Side Economics Concern ... banking system. 70 PRINCIPLES OF ECONOMICS are numerous reasons why the private sector holds money balances. These reasons can be categorized into types of demand, as...

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... industries; and (4) to pro- tect industries important for national defense. Most of the arguments are invalid and are based on misconceptions. 90 PRINCIPLES OF ECONOMICS Note! Utility maximization ... leads to higher unemployment in those nations whose exports to the U .S. have 94 PRINCIPLES OF ECONOMICS CHAPTER 9: Economic Growth and Productivity 85 True or False Que...

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... purchase the sixth unit of Y, the individual should spend more on X and less on Y. As she buys more X, the consumer moves down her diminishing MU x schedule. As she buys less of Y, she moves up ... increases in a smaller proportion, giving decreasing returns to scale or increasing costs. In- creasing returns to scale or economies of mass production may result be- cause of divisi...

Ngày tải lên: 09/08/2014, 19:22

... competitors, as far as so- ciety is concerned. True or False Questions 1. The monopoly power of a monopolistic competitor is limited by the availability of close substitutes. 2. A monopolistic competitor ... produces at the lowest point on its LAC curve. 126 PRINCIPLES OF ECONOMICS Monopolistic competition is the most prevalent form of market or- ganization in retailing. The num...

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... Savings, 65 Scarcity, 3 5 market system, 7–8 Services, 4 Short run, 1 05 Short-run average costs (SAC), 107–109 Short-run costs, 1 05 107 Short-run loss, 114 Short-run profit, 114 Stabilizers, 58 59 Stagflation, ... imposition of high initiation fees and long apprenticeships and requirements that employ- ers hire only union members. This is done primarily by craft unions (i.e., union...

Ngày tải lên: 09/08/2014, 19:22