Tài liệu Ten Principles of Economics - Part 9 pdf

... number of births is temporarily high. How does this baby boom affect the price of baby-sitting services in 2010 and 2020? (Hint: 5-year-olds need baby-sitters, whereas 15-year-olds can be baby-sitters.) 7. ... 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 Rises Price of Ice-C...

Ngày tải lên: 15/12/2013, 11:15

... 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

... 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 Cones $3.00 1.50 2.00 2.50 1.00 0.50 0 1234567 891 01112 Quantity ... Cones $3.00 1.50 2.00 2.50 1.00 0.50 0 1234567 891 01112 Quantity of Ice-Cream Cones $3.00 1.50 2.00 2.50 1.00 0.50 Pri...

Ngày tải lên: 15/12/2013, 11:15

... drugs. Summary elasticity, p. 94 price elasticity of demand, p. 94 total revenue, p. 98 income elasticity of demand, p. 102 cross-price elasticity of demand, p. 104 price elasticity of supply, p. 104 Key ... rose 14 percent in 197 9, followed by 34 percent in 198 0, and another 34 percent in 198 1. Yet OPEC found it difficult to maintain a high price. From 198 2 to 198 5, the p...

Ngày tải lên: 15/12/2013, 11:15

... primary cause of fluctuations in government debt is war. When wars occur, government spending on national defense rises Percent of GDP 1 790 1810 1830 1850 1870 1 890 191 0 193 0 195 0 197 0 199 0 Revolutionary War 2010 Civil War World ... the late 199 0s. Source: U.S. Department of Treasury; U.S. Department of Commerce; and T. S. Berry, “Production and Population since 17 89, ” Bostw...

Ngày tải lên: 15/12/2013, 11:15

... the 199 0s, inflation remained a closely watched macroeconomic vari- able. One 199 6 study found that inflation was the economic term mentioned most often in U.S. newspapers (far ahead of second-place ... the 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...

Ngày tải lên: 15/12/2013, 11:15