Tài liệu Ten Principles of Economics - Part 5 ppt

... 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 tradeoff between produc- ing meat ... case of babies and mini- vans. Couples often buy a minivan in anticipation of the birth of a child. The Violent Crimes (per 1,000 people) Police Officers (per 1,000 peopl...

Ngày tải lên: 15/12/2013, 11:15

... of Ice-Cream Cones $3.00 1 .50 2.00 2 .50 1.00 0 .50 0 123 456 789101112 Quantity of Ice-Cream Cones $3.00 1 .50 2.00 2 .50 1.00 0 .50 ؉ demand curve a graph of the relationship between the price of a ... sum of all the individual demands for a particular good or service. Catherine’s Demand Price of Ice-Cream Cone Price of Ice-Cream Cone Nicholas’s Demand 0 1 2 3 4 5 6 7...

Ngày tải lên: 15/12/2013, 11:15

... Ϫ 4) /5 ϫ 100 ϭ 40. Similarly, a change from $6 to $4 is considered a 40 per- cent fall. Because the midpoint method gives the same answer regardless of the direc- tion of change, it is often used ... together, such as comput- ers and software. In this case, the cross-price elasticity is negative, indicating that an increase in the price of computers reduces the quantity of software...

Ngày tải lên: 15/12/2013, 11:15

... government 100 80 60 40 20 0 1 950 1 955 1960 19 65 1970 19 75 1980 19 85 1990 19 95 '98 Labor-Force Participation Rate (in percent) Women Men Figure 2 6-3 L ABOR -F ORCE P ARTICIPATION R ATES FOR M EN AND W OMEN SINCE 1 950 . ... 64.8 T EENAGERS ( AGES 16–19) White, male 14.1 56 .6 White, female 10.9 55 .4 Black, male 30.1 40.7 Black, female 25. 3 42 .5 S OURCE : Bureau of L...

Ngày tải lên: 15/12/2013, 11:15

... table. A LL W OMEN W OMEN W OMEN W OMEN W OMEN 2 5- 5 4 2 5- 3 4 3 5- 4 4 4 5- 5 4 1970 43% 50 % 45% 51 % 54 % 1990 58 74 74 77 71 Why do you think that younger women experienced a bigger increase in labor-force participation than older ... 58 1 unemployment rate, p. 58 2 labor-force participation rate, p. 58 2 natural rate of unemployment, p. 58 2 cyclical unemployment, p. 58...

Ngày tải lên: 15/12/2013, 11:15

... one-for-one adjustment of the nominal interest rate to the inflation rate Percent (per year) 1960 19 65 1970 19 75 1980 19 85 1990 19 95 Inflation Nominal interest rate 0 3 6 9 12 15 Figure 2 8 -5 T HE N OMINAL I NTEREST R ATE AND ... essence of the quantity theory of money. Indexes (1960 = 100) 1 ,50 0 1,000 50 0 0 1960 19 65 1970 19 75 1980 19 85 1990 19 95 2000 Velocity...

Ngày tải lên: 15/12/2013, 11:15

... 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 PART THREE ... consider the benefits sellers re- ceive from participating in a market. As you will see, our analysis of sellers’ wel- fare is similar to our analysis of buyers’ welfare. 1...

Ngày tải lên: 24/12/2013, 17:15

... THE COSTS OF TAXATION 167 Let’s consider first how the elasticity of supply affects the size of the dead- weight loss. In the top two panels of Figure 8 -5 , the demand curve and the size of the tax ... the area of the triangle between the supply and demand curves, is larger when the supply curve is more elastic. Similarly, the bottom two panels of Figure 8 -5 show how the ela...

Ngày tải lên: 24/12/2013, 17:15

... an exporter of a good, domestic producers of the good are better off, and domestic consumers of the good are worse off. Price of Steel Price before trade Price after trade 0 Quantity of Steel Domestic quantity demanded Domestic quantity supplied Domestic supply World price Domestic demand Exports Figure ... a profit. As a result, they laid off their workers and shut down their fac-...

Ngày tải lên: 24/12/2013, 17:15