Tài liệu Ten Principles of Economics - Part 12 docx

... elastic)Quantity of Apartments0SupplyControlled rentShortageRentalPrice of Apartment0RentalPrice of ApartmentQuantity of ApartmentsDemandSupplyControlled rentShortageDemandFigure 6-3 RENTCONTROL ... total price of an apartment (in-cluding the bribe) closer to the equilibrium price.To understand fully the effects of rent control, we have to remember one of the Ten Principles of Economics ... preference to tenantswithout children. Still others discriminate on the basis of race. Sometimes, apart-ments are allocated to those willing to offer under-the-table payments to buildingsuperintendents....

Tài liệu Ten Principles of Economics - Part 54 docx

... follow a buy-and-hold strat-egy: They buy the stock of well-run companies, hold it forlong periods of time, and do not respond to the daily fluctu-ations reported in the paper.Name of companySymbol ... Intel stock is a part owner of Intel; the owner of an Intelbond is a creditor of the corporation. If Intel is very profitable, the stockholders en-joy the benefits of these profits, whereas the ... to the profits that the firm makes. For example,if Intel sells a total of 1,000,000 shares of stock, then each share represents owner-ship of 1/1,000,000 of the business.The sale of stock...

Tài liệu Ten Principles of Economics - Part 55 docx

... behavior of people who want to save (the sup-pliers of loanable funds) and the behavior of people who want to invest (the de-manders of loanable funds).We can now use this analysis of the market ... are often skeptical of this second argument.With thousands of money managers paying close attention to each company’sprospects, the price of a company’s stock is usually a good reflection of ... U.S. policymakers view the lowlevel of U.S. saving as a major problem. One of the Ten Principles of Economics inChapter 1 is that a country’s standard of living depends on its ability to producegoods...

Tài liệu Ten Principles of Economics - Part 19 docx

... States would nottolerate the “flooding of our markets”with low-cost goods from Asia and Rus-sia, particularly steel, that are threaten-ing the jobs of American workers.The President’s statement ... NATIONAL-SECURITY ARGUMENTWhen an industry is threatened with competition from other countries, opponents of free trade often argue that the industry is vital for national security. In our ex-ample, ... for-eign competition. Let’s consider some of the arguments they might give to supporttheir position and how the economics team would respond.THE JOBS ARGUMENTOpponents of free trade often...

Tài liệu Ten Principles of Economics - Part 72 docx

... of October to 6.6 percent at the end of themonth. In part because of the Fed’s quick action, the economy avoided a reces-sion.While the Fed keeps an eye on the stock market, stock-market participantsalso ... downward-sloping aggregate-demand curve. The theory also sheds light, however, on some of the other events that alter the quantity of goods and services demanded. When-ever the quantity of goods ... position of the aggregate-demand curve.As panel (a) of Figure 3 2-3 shows, an increase in the money supply shifts themoney-supply curve to the right from MS1to MS2. Because the money-demandcurve...

Tài liệu Ten Principles of Economics - Part 25 docx

... amountTable 1 2-7 PROPORTIONAL TAX REGRESSIVE TAX PROGRESSIVE TAXAMOUNT PERCENT AMOUNT PERCENT AMOUNT PERCENTINCOME OF TAX OF INCOME OF TAX OF INCOME OF TAX OF INCOME$ 50,000 $12, 500 25% $15,000 ... groups of equal size, called quintiles. The second column of the table shows the average income of each group. The poorest one-fifth of fam-ilies had average income of $9,880; the richest one-fifth ... about the taxsystem are often aimed at the I.R.S.,businesspeople and policymakers gener-ally contend that the real fault lies withCongress and its frequent, often well-intentioned tinkering with...

Tài liệu Ten Principles of Economics - Part 31 docx

... CURVEWe have been discussing the behavior of competitive profit-maximizing firms. Youmay recall from Chapter 1 that one of the Ten Principles of Economics is that rationalpeople think at the ... by competition, the outcome in a market with amonopoly is often not in the best interest of society.One of the Ten Principles of Economics in Chapter 1 is that governments cansometimes improve ... explain the reason for each.Quantity of OutputAveragetotalcost0CostFigure 1 5-1 ECONOMIES OF SCALE AS ACAUSE OF MONOPOLY. When afirm’s average-total-cost curvecontinually declines, the...

Tài liệu Ten Principles of Economics - Part 34 docx

... universities’ envi-able cartel position has been damagedby the unenlightened Justice Depart-ment, which argued that the price-settingmeetings were a violation of antitrustlaws. Since most of the universities ... claim of this otherwise worthy contestant for thefirst annual prize.Officials of Ivy League universitieshave been able to meet in semi-public fo-rums to set rules that determine prices of admission ... restric-tions on entry into the economics pro-fession. It is a sad state of affairs whenalmost anyone can assume the title of economist.SOURCE: The Wall Street Journal, August 27, 1991,p. A12.344...

Tài liệu Ten Principles of Economics - Part 76 docx

... ideas of many of the besteconomists of the twentieth century: from the Phillips curve of Phillips, Samuel-son, and Solow, to the natural-rate hypothesis of Friedman and Phelps, to therational-expectations ... economics profession offered two conflicting pre-dictions. One group of economists offered estimates of the sacrifice ratio and con-cluded that reducing inflation would have great cost in terms of lost ... the cost of reducing inflation. The findings of these studies are of- ten summarized in a statistic called the sacrifice ratio. The sacrifice ratio is thenumber of percentage points of annual...

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