Tài liệu Ten Principles of Economics - Part 6 pdf

... opportunity cost of producing 1 pound of meat is 2 pounds of potatoes. Explain why the rancher’s opportunity cost of producing 1 pound of meat is 1/8 pound of potatoes. 2. Maria can read 20 pages of economics ... pound of potatoes costs the rancher 8 pounds of meat, 1 pound of meat costs the rancher 1/8 pound of potatoes. Similarly, because 1 pound of potatoes costs...

Ngày tải lên: 15/12/2013, 11:15

... 4 6 10 3.00 5 8 13 78 PART TWO SUPPLY AND DEMAND I: HOW MARKETS WORK Ben’s Supply Price of Ice-Cream Cone Price of Ice-Cream Cone ؉ Jerry’s Supply 0 1 2 3 4 5 6 7 8 9 10 11 12 Quantity of Ice-Cream ... Supply (ϭ 3 ϩ 4) Price of Ice-Cream Cone 0 1 2 3 4 5 6 7 8 9 10 11 12 Quantity of Ice-Cream Cones $3.00 1.50 2.00 2.50 1.00 0.50 ؍ Figure 4 -6 M ARKET S UPPLY AS THE S UMOF...

Ngày tải lên: 15/12/2013, 11:15

... Q 2 . 90 PART TWO SUPPLY AND DEMAND I: HOW MARKETS WORK market, p. 66 competitive market, p. 66 quantity demanded, p. 67 law of demand, p. 68 normal good, p. 68 inferior good, p. 68 substitutes, p. 68 complements, ... Falls Price of Ice-Cream Cone Quantity of Ice-Cream Cones 0 New equilibrium Initial equilibrium S 1 D 1 D 2 S 2 Q 1 Q 2 P 2 P 1 (a) Price Rises, Quantity...

Ngày tải lên: 15/12/2013, 11:15

... VARIETY OF SUPPLY CURVES Because the price elasticity of supply measures the responsiveness of quantity sup- plied to the price, it is reflected in the appearance of the supply curve. Figure 5 -6 shows ... introduction of a new hybrid. Figure 5-8 shows an example of such a change. When the supply curve shifts from S 1 to S 2 , the quantity of wheat sold in- creases from 100...

Ngày tải lên: 15/12/2013, 11:15

... Second, debt financing of wars shifts part of the cost of wars to fu- ture generations, who will have to pay off the government debt. This is argu- ably a fair distribution of the burden, for future ... 555 stock, p. 5 56 financial intermediaries, p. 5 56 mutual fund, p. 558 national saving (saving), p. 562 private saving, p. 562 public saving, p. 562 budget surplus, p. 562 bu...

Ngày tải lên: 15/12/2013, 11:15

... macroeconomic vari- able. One 19 96 study found that inflation was the economic term mentioned most often in U.S. newspapers (far ahead of second-place finisher unemployment and third-place finisher ... princi- ple of monetary neutrality. A worker who receives an annual raise of 10 percent tends to view that raise as a reward for her own talent and effort. When an infla- tion rate of...

Ngày tải lên: 15/12/2013, 11:15