Tài liệu Ten Principles of Economics - Part 23 ppt

Tài liệu Ten Principles of Economics - Part 23 ppt

Tài liệu Ten Principles of Economics - Part 23 ppt

... THE RISK OF THIS , BUTAT WHATCOST ? 238 PART FOUR THE ECONOMICS OF THE PUBLIC SECTOR CASE STUDY WHY THE COW IS NOT EXTINCT Throughout history, many species of animals have been threatened with ... some- times used by courts to award damages in wrongful-death suits, is to look at the total amount of money a person would have earned if he or she had lived. Economists are often cri...
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Tài liệu Ten Principles of Economics - Part 5 ppt

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...
Ngày tải lên : 15/12/2013, 11:15
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Tài liệu Ten Principles of Economics - Part 7 pptx

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 ... of Ice-Cream Cones $3.00 1.50 2.00 2.50 1.00 0.50 0 1234 56789101112 Quantity of Ice-Cream Cones $3.00 1.50 2.00 2.50 1.00 0.50 ؉ demand curve a graph of the relationship b...
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Tài liệu Ten Principles of Economics - Part 10 ppt

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...
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Tài liệu Ten Principles of Economics - Part 57 pptx

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 ... million, the labor-force participation rate was Labor-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 participati...
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Tài liệu Ten Principles of Economics - Part 59 pptx

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 ... 601 was profitable for the firm. Henry Ford himself called the $5-a-day wage “one of the finest cost-cutting moves we ever made.” Historical accounts of this episode are also consistent with ......
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Tài liệu Ten Principles of Economics - Part 62 ppt

Tài liệu Ten Principles of Economics - Part 62 ppt

... head of the central bank said today that the bank intends to bail out many of the nation’s bankrupt finan- cial institutions by buying back their multibillion-ruble portfolios of Govern- ment ... quantity of money sup- plied. This equilibrium of money supply and money demand determines the value of money and the price level. Quantity fixed by the Fed Quantity of Money Value of...
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Tài liệu Ten Principles of Economics - Part 15 ppt

Tài liệu Ten Principles of Economics - Part 15 ppt

... outcomes: efficiency the 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 CHAPTER ... 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 ev...
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Tài liệu Ten Principles of Economics - Part 17 ppt

Tài liệu Ten Principles of Economics - Part 17 ppt

... 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 THE ELASTICITY OF LABORSUPPLY .” QUICK ... tax revenue. This chapter has shed some light on how high the price of civilized society can be. One of the Ten Principles of Economics discussed in Chapter 1...
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