Tài liệu Ten Principles of Economics - Part 77 ppt
Tài liệu Ten Principles of Economics - Part 77 ppt
... adjustment of expectations.
Summary
Phillips curve, p. 763
natural-rate hypothesis, p. 772
supply shock, p. 775
sacrifice ratio, p. 779
rational expectations, p. 779
Key Concepts
1. Draw the short-run ... limits of macroeconomic knowledge and the inherent un-
predictability of world events. Economic policymakers should refrain from inter-
v
ening often with monetary and fiscal p...
Tài liệu Ten Principles of Economics - Part 5 ppt
... various mixes of output
that an economy can produce. It illustrates one of the Ten Principles of Economics in
Chapter 1: People face tradeoffs. Here the farmer faces a tradeoff between produc-
ing meat ... case of babies and mini-
vans. Couples often buy a minivan in anticipation of the birth of a child. The
Violent
Crimes
(per 1,000
people)
Police Officers
(per 1,000 peopl...
Tài liệu Ten Principles of Economics - Part 7 pptx
... 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....
Tài liệu Ten Principles of Economics - Part 10 ppt
... considered a 40 per-
cent fall.
Because the midpoint method gives the same answer regardless of the direc-
tion of change, it is often used when calculating the price elasticity of demand be-
tween two ... together, such as comput-
ers and software. In this case, the cross-price elasticity is negative, indicating that
an increase in the price of computers reduces the quantity of sof...
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), 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...
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 these
problems were highlighted in
our description of the theory of
efficiency wages. These prob-
lems, however, go beyond the...
Tài liệu Ten Principles of Economics - Part 62 ppt
... rate.
S
OURCE
: U.S. Department of Treasury;
U.S. Department of Labor.
632 PART TEN MONEY AND PRICES IN THE LONG RUN
THE EFFECTS OF A MONETARY INJECTION
Let’s now consider the effects of a change in ... quantity of money, the
velocity of money, and the dollar
value of the economy’s output of
goods and services
636 PART TEN MONEY AND PRICES IN THE LONG RUN
The price lev...
Tài liệu Ten Principles of Economics - Part 15 ppt
... property of a resource allocation
of maximizing the total surplus
received by all members of society
equity
the fairness of the distribution of
well-being among the members of
society
154 PART THREE ... planner. The benevolent social planner is an
all-knowing, all-powerful, well-intentioned dictator. The planner wants to maxi-
mize the economic well-being of everyone in societ...
Tài liệu Ten Principles of Economics - Part 17 ppt
... THE COSTS OF TAXATION 167
Let’s consider first how the elasticity of supply affects the size of the dead-
weight loss. In the top two panels of Figure 8-5 , the demand curve and the size of
the tax ... that part of the disagree-
ment may rest on different views about the elasticity of labor supply and the
deadweight loss of taxation.
“L
ET ME TELL YOU WHAT
I
THINK ABOUT T...
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