Professional Documents
Culture Documents
1. Ten Principles of Economics 2. Thinking Like an Economist 3. Interdependence and the Gains from Trade 4. The Market Forces of Supply and Demand 5. Elasticity and Applications 6. Supply, Demand, and Government Policies 7. Consumers, Producers and the Efficiency of Markets 8. Application: The Costs of Taxation 9. Application: International Trade 10. Externalities 11. Goods and Common Resources 12. The Tax System 13. The Costs of Production 14. The Competitive Firm 15. Monopoly 16. Oligopoly 17. Monopolistic Competition 18. The Markets for the Factors of Production 19. Earnings and Discrimination 20. The Distribution of Income 21. The Theory of Consumer Choice 22. Measuring a Nation's Wealth 23. Measuring the Cost of Living 24. Production and Growth 25. Financial Markets: Saving, Investment, and Interest Rates 26. Unemployment 27. The Monetary System 28. Inflation: Its Causes and Costs 29. Open-Economy Macroeconomics: Basic Concepts 30. A Macroeconomic Theory of the Open Economy 31. Aggregate Demand and Aggregate Supply 32. Monetary and Fiscal Policy Determinants of Aggregate Demand 33. The Short-Run Tradeoff between Inflation andUnemployment 34. Five Debates over Macroeconomic Policy
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Cars (millions)
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D1 D2 Quantity of Pizza
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Price of Oranges
D Quantity of Oranges
% & #
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Price of Gasoline
S1
Quantity of Gasoline
S1 S2
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Price of Notebooks
D2 D1 Quantity of Notebooks
Price of Notebooks
D2 D1 Quantity of Notebooks
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S2 Price of Sweatshirts S1
D Quantity of Sweatshirts
Price of Sweatshirts
D2
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Quantity of Sweatshirts
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Price of Sweatshirts
Quantity of Sweatshirts
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Price of Babysitting Services
D1
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Price of Babysitting Services
S2
#
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Price of Cigars
D1 Quantity of Cigars
D2
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Price of Pizza
D1 D2 Quantity of Pizza
#
S1 S2
Price of Computers
D Quantity of Computers
Price of Software
D2 D1 Quantity of Software
S1
S2
Price of Bagels
D Quantity of Bagels
S
Price of Cream Cheese
! (
#
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S2
! (# #
Price of Bagels
D2 Quantity of Bagels
D1
$8
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Price of Champagne
D1
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Quantity of Champagne
S1 P S2 D P
S1 S2 P
S1 S2
S1 S2
D Q S1 Q S1 S 2 Q S1 Q
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Area of rectangle = total spending by consumers = total revenue received by producers =PxQ Q Quantity
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Price of Beer
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Price of Beer
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Price of Cheese
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Price of Gasoline
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D1 D2 Q2 Q1 Quantity of Gasoline
Price of Gasoline
Supply
tax tax D1
D2 Q1 Q2 Quantity of Gasoline
Wage
unemployment wm w1 A B Supply
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Price of Guns
S2
Price of Guns
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Price of Guns
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Price of Lemons
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Price of Lemonade
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Demand
Quantity of Lemonade
# #
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#!#%
Price of Flour
Supply P2 P1
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Quantity of Flour
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Price of Water
$6 $5 $4 $3 $2 $1 1 2 3 4 Quantity of Water B A
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Price of Haircut
Sally Phil B
Geraldo C A D
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2 3 4 Quantity of Haircuts
Price
Supply
Demand Q2 Q1 Quantity
Price
Supply
Demand Q1 Q3 Quantity
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