Tài liệu Ten Principles of Economics - Part 19 docx

... States would nottolerate 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 ARGUMENTWhen an industry is threatened with competition from other countries, opponents of free trade often argue that the industry is vital for national security. In our ex-ample, ... of the tariff is the sum of these two triangles.THE EFFECTS OF AN IMPORT QUOTAThe Isolandian economists next consider the effects of an import quota—a limit onthe quantity of imports. In particular,...

Tài liệu Ten Principles of Economics - Part 12 docx

... elastic)Quantity of Apartments0SupplyControlled rentShortageRentalPrice of Apartment0RentalPrice of ApartmentQuantity of ApartmentsDemandSupplyControlled rentShortageDemandFigure 6-3 RENTCONTROL ... 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 the Ten Principles of Economics ... preference to tenantswithout children. Still others discriminate on the basis of race. Sometimes, apart-ments are allocated to those willing to offer under-the-table payments to buildingsuperintendents....

Tài liệu Ten Principles of Economics - Part 54 docx

... follow a buy-and-hold strat-egy: They buy the stock of well-run companies, hold it forlong periods of time, and do not respond to the daily fluctu-ations reported in the paper.Name of companySymbol ... Intel stock is a part owner of Intel; the owner of an Intelbond is a creditor of the corporation. If Intel is very profitable, the stockholders en-joy the benefits of these profits, whereas the ... to the profits that the firm makes. For example,if Intel sells a total of 1,000,000 shares of stock, then each share represents owner-ship of 1/1,000,000 of the business.The sale of stock...

Tài liệu Ten Principles of Economics - Part 55 docx

... 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’sprospects, the price of a company’s stock is usually a good reflection of ... U.S. policymakers view the lowlevel of U.S. saving as a major problem. One of the Ten Principles of Economics inChapter 1 is that a country’s standard of living depends on its ability to producegoods...

Tài liệu Ten Principles of Economics - Part 72 docx

... of October to 6.6 percent at the end of themonth. 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 participantsalso ... 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-ever the quantity of goods ... position of the aggregate-demand curve.As panel (a) of Figure 3 2-3 shows, an increase in the money supply shifts themoney-supply curve to the right from MS1to MS2. Because the money-demandcurve...

Tài liệu Ten Principles of Economics - Part 25 docx

... groups of equal size, called quintiles. The second column of the table shows the average income of each group. The poorest one-fifth of fam-ilies had average income of $9,880; the richest one-fifth ... frequent, often well-intentioned tinkering with the law. Theresulting complexity is taking an ever-mounting toll on respect for the system,and thereby undermines the willingness of even the best-intentioned ... thesame amountTable 1 2-7 PROPORTIONAL TAX REGRESSIVE TAX PROGRESSIVE TAXAMOUNT PERCENT AMOUNT PERCENT AMOUNT PERCENTINCOME OF TAX OF INCOME OF TAX OF INCOME OF TAX OF INCOME$ 50,000 $12,500...

Tài liệu Ten Principles of Economics - Part 31 docx

... CURVEWe have been discussing the behavior of competitive profit-maximizing firms. Youmay recall from Chapter 1 that one of the Ten Principles of Economics is that rationalpeople think at the ... by competition, the outcome in a market with amonopoly is often not in the best interest of society.One of the Ten Principles of Economics in Chapter 1 is that governments cansometimes improve ... explain the reason for each.Quantity of OutputAveragetotalcost0CostFigure 1 5-1 ECONOMIES OF SCALE AS ACAUSE OF MONOPOLY. When afirm’s average-total-cost curvecontinually declines, the...

Tài liệu Ten Principles of Economics - Part 34 docx

... universities’ envi-able cartel position has been damagedby the unenlightened Justice Depart-ment, which argued that the price-settingmeetings were a violation of antitrustlaws. Since most of the universities ... claim of this otherwise worthy contestant for thefirst annual prize.Officials of Ivy League universitieshave been able to meet in semi-public fo-rums to set rules that determine prices of admission ... restric-tions on entry into the economics pro-fession. It is a sad state of affairs whenalmost anyone can assume the title of economist.SOURCE: The Wall Street Journal, August 27, 199 1,p....

Tài liệu Ten Principles of Economics - Part 76 docx

... Rate(percent per year) 197 2 197 5 198 1 197 6 197 8 197 9 198 0 197 3 197 4 197 7123456789100246810Figure 3 3-9 THE SUPPLYSHOCKS OF THE 197 0S. This figureshows annual data from 197 2 to 198 1 on the unemployment ... year) 198 4 199 1 198 5 199 2 198 6 199 3 199 4 198 8 198 7 199 5 199 6 199 7 199 8 199 9 198 9 199 0123456789100246810Figure 3 3-1 2THE GREENSPAN ERA. Thisfigure shows annual data from 198 4 to 199 9 on theunemployment ... Rate(percent per year) 197 9 198 0 198 3 198 1 198 2 198 4 198 6 198 7 198 5123456789100246810ABCFigure 3 3-1 1THE VOLCKER DISINFLATION.This figure shows annualdata from 197 9 to 198 7 onthe unemployment...

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