Tài liệu Ten Principles of Economics - Part 21 doc

... foundations in part because education has positive externalities for society. The private market can often solve the problem of externalities by relying on the self-interest of the relevant parties. ... proposition that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own 218 PART FOUR THE ECONOMIC...

Ngày tải lên: 24/12/2013, 17:15

... elastic) Quantity of Apartments 0 Supply Controlled rent Shortage Rental Price of Apartment 0 Rental Price of Apartment Quantity of Apartments Demand Supply Controlled rent Shortage Demand Figure 6-3 R ENT C ONTROL ... 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...

Ngày tải lên: 15/12/2013, 11:15

... line. Many are teenagers from middle-class homes working at part- time jobs for extra spending money. EVALUATING PRICE CONTROLS One of the Ten Principles of Economics discussed in Chapter 1 is ... left (or, equiva- lently, downward), as shown in Figure 6-6 . tax incidence the study of who bears the burden of taxation $3.30 3.00 2.80 Quantity of Ice-Cream Cones 0 Price of...

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... follow a buy-and-hold strat- egy: They buy the stock of well-run companies, hold it for long periods of time, and do not respond to the daily fluctu- ations reported in the paper. Name of company Symbol ... Intel stock is a part owner of Intel; the owner of an Intel bond is a creditor of the corporation. If Intel is very profitable, the stockholders en- joy the benefits of the...

Ngày tải lên: 15/12/2013, 11:15

... 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’s prospects, the price of a company’s stock is usually a goo...

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... com- pared with 57 percent of nonunion workers, said Barry Bluestone, a labor- friendly economics professor at the Uni- versity of Massachusetts. The conclusion draws no argument even from Prof. ... topic of politi- cal debate. State lawmakers sometimes debate right-to-work laws, which give work- ers in a unionized firm the right to choose whether to join the union. In the absence of...

Ngày tải lên: 15/12/2013, 11:15

... supply can profoundly affect the economy. One of the Ten Principles of Economics in Chapter 1 is that prices rise when the government prints too much money. Another of the Ten Principles of Economics ... 617 On the left-hand side of the T-account are the bank’s assets of $100 (the reserves it holds in its vaults). On the right-hand side of the T-account are the bank’...

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... States would not tolerate 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 ARGUMENT When an industry is threatened with competition from other countries, opponents of free trade often argue that the industry is vital for national security. In...

Ngày tải lên: 24/12/2013, 17:15

... of October to 6.6 percent at the end of the month. 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 participants also ... 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- e...

Ngày tải lên: 24/12/2013, 17:15