Pinciples of economics

Ngày tải lên: 15/08/2013, 14:26

Ngày tải lên: 18/10/2013, 00:15

... 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 demanded. Whether ... of consumer choice does allow demand curves to slope upward. Yet such occurrences are so unusual that the law of demand is as reliable a law as any in economics. Quantity of Meat A...

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 ... producer. 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 measur...

Ngày tải lên: 29/10/2013, 01:15

... honey. P RICE Q UANTITY P RICEOF Q UANTITY Y EAR OF M ILK OF M ILK H ONEY OF H ONEY 2001 $1 100 qts. $2 50 qts. 2002 $1 200 $2 100 2003 $2 200 $4 100 510 PART EIGHT THE DATA OF MACROECONOMICS a. Compute ... 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-...

Ngày tải lên: 29/10/2013, 01:15

... affect people’s behavior Learn the meaning of opportunity cost Learn that economics is about the allocation of scarce resources Examine some of the tradeoffs that people face See how to use marginal ... 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...

Ngày tải lên: 08/11/2013, 00:15

... three examples of important tradeoffs that you face in your life. 2. What is the opportunity cost of seeing a movie? 3. Water is necessary for life. Is the marginal benefit of a glass of water large ... methods of science Consider how assumptions and models can shed light on the world Distinguish between microeconomics and macroeconomics Every field of study has its own language a...

Ngày tải lên: 08/11/2013, 00:15

... judgments. As you study economics, keep in mind the distinction between positive and normative statements. Much of economics just tries to explain how the economy works. Yet often the goal of economics is ... 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 th...

Ngày tải lên: 08/11/2013, 00:15

... overall level of prices. The consumer price index compares the price of a fixed basket of goods and services to the price of the basket in the base year. Only occasionally does the Bureau of Labor ... correction of a dollar amount for the effects of inflation by law or contract “F RANKLY , MY DEAR , I DON ’ T CARE MUCH FOR THE EFFECTS OF INFLATION .” 522 PART EIGHT THE DATA...

Ngày tải lên: 08/11/2013, 00:15