Tài liệu Ten Principles of Economics - Part 57 pptx

... on labor-force participation.The labor-force participation rate measures the percentage of the total adult pop-ulation of the United States that is in the labor force:Labor-force participation ... Statistics (BLS), whichis part of the Department of Labor. Every month the BLS produces data on unem-ployment and on other aspects of the labor market, such as types of employment,CHAPTER 26 ... million, the labor-force participationrate wasLabor-force participation rate ϭ (137.7/205.2) ϫ 100 ϭ 67.1 percent.Hence, in 1998, two-thirds of the U.S. adult population were participating in...

Tài liệu Ten Principles of Economics - Part 7 pptx

... sum of all theindividual demands for a particular good or service.Catherine’s DemandPrice of Ice-CreamConePrice of Ice-CreamConeNicholas’s Demand0 1 2 3 4 5 6 7 8 9 10 11 12Quantity of Ice-Cream ... relationshipbetween the price of a good and thequantity demandedPrice of Ice-CreamCone02.502.001.501.000.501 2 3 4 5 6 7 8 9 10 11Quantity of Ice-Cream Cones$3.0012Figure 4-1 CATHERINE’SDEMANDCURVE.This ... and hot fudge are often used together. When a fall in theprice of one good raises the demand for another good, the two goods are calledcomplements. Complements are often pairs of goods that are...

Tài liệu Ten Principles of Economics - Part 59 pptx

... has a fifty-fifty chance of hiring the compe-tent one. By contrast, if the firm offers any lower wage, it is sure to hire the incom-petent worker.In many situations in life, in-formation ... variety of interesting problems for eco-nomic theory. Some of theseproblems were highlighted inour description of the theory of efficiency wages. These prob-lems, however, go beyond thestudy of ... well as it might be-cause of the problem of adverse selection.Similarly, the worker-effort variant of efficiency-wagetheory illustrates a general phenomenon called moral haz-ard. Moral hazard...

Tài liệu Ten Principles of Economics - Part 24 pptx

... started toTHE DESIGN OF THE TAX SYSTEM243244 PART FOUR THE ECONOMICS OF THE PUBLIC SECTORshed light on one of the Ten Principles of Economics from Chapter 1: The govern-ment can sometimes ... capability of American producersrelative to that of foreign firms. Is this argumentconsistent with your classification of basic researchin part (a)? (Hint: Can excludability apply to somepotential ... consistent with the evidence in Figure 1 2-1 of a growing tax burden over time: As a nation gets richer, the government typi-cally takes a larger share of income in taxes.The overall size of government...

Tài liệu Ten Principles of Economics - Part 65 pptx

... international672 PART ELEVEN THE MACROECONOMICS OF OPEN ECONOMIESwould drive up the U.S. price of coffee and drive down the Japanese price. Con-versely, if a dollar could buy more coffee in Japan ... value of money. Purchasing-power parity states that aunit of all currencies must have the same real value in every country.IMPLICATIONS OF PURCHASING-POWER PARITYWhat does the theory of purchasing-power ... nominal exchange rate:e ϭ P*/P.664 PART ELEVEN THE MACROECONOMICS OF OPEN ECONOMIESflow of goods and services and the international flow of capital are two sides of the same coin.SAVING, INVESTMENT,...

Tài liệu Ten Principles of Economics - Part 73 pptx

... policy canpotentially also influence thequantity of goods and ser-vices supplied.For instance, consider the effects of tax changes onaggregate supply. One of the Ten Principles of Economics ... investment. This crowding-out effect partially offsets the impact of gov-ernment purchases on aggregate demand, as illustrated in panel (b) of Figure 3 2-5 .The initial impact of the increase in government ... rate tends to reducethe quantity of goods andservices demanded, particularlyfor investment goods. Thiscrowding out of investmentpartially offsets the impact of the fiscal expansion onaggregate...

Tài liệu Ten Principles of Economics - Part 38 pptx

... the firm earns zeroprofit.382 PART FIVE FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRYand average-total-cost curves. Panel (a) of Figure 1 7-3 shows that the quantity of output at this point ... May.At the center of those efforts is themost ambitious push ever by the broad-cast networks to brand themselves andmany of the blocks of programming theyoffer—a marked departure from thepast, ... on the downward-slopingportion of their average-total-cost curves. In this way, monopolistic competitioncontrasts starkly with perfect competition. As panel (b) of Figure 1 7-3 shows, freeentry...

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