Tài liệu Ten Principles of Economics - Part 65 pptx

... international 672 PART ELEVEN THE MACROECONOMICS OF OPEN ECONOMIES would 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 a unit of all currencies must have the same real value in every country. IMPLICATIONS OF PURCHASING-POWER PARITY What does the t...

... sum of all the individual demands for a particular good or service. Catherine’s Demand Price of Ice-Cream Cone Price of Ice-Cream Cone Nicholas’s Demand 0 1 2 3 4 5 6 7 8 9 10 11 12 Quantity of Ice-Cream ... relationship between the price of a good and the quantity demanded Price of Ice-Cream Cone 0 2.50 2.00 1.50 1.00 0.50 1 2 3 4 5 6 7 8 9 10 11 Quantity of Ice-Cream Cones $3....

... 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), which is 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...

... 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 these problems were highlighted in our description of the theory of efficiency wages. These prob- lems, however, go beyond the...

... started to THE DESIGN OF THE TAX SYSTEM 243 244 PART FOUR THE ECONOMICS OF THE PUBLIC SECTOR shed light on one of the Ten Principles of Economics from Chapter 1: The govern- ment can sometimes ... capability of American producers relative to that of foreign firms. Is this argument consistent with your classification of basic research in part (a)? (Hint: Can excludabi...

... policy can potentially also influence the quantity of goods and ser- vices supplied. For instance, consider the effects of tax changes on aggregate 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 impac...

... the firm earns zero profit. 382 PART FIVE FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY and 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 the most ambitious push ever by the broad- cast networks to brand themselves and many of the blocks of programming they offer—a marked departu...