曼昆经济学原理PPT.ppt

* 23 * 24 * * * 10. Society faces a short-run tradeoff between inflation and unemployment. The Phillips Curve illustrates the tradeoff between inflation and unemployment: òInflation e ?Unemployment It’s a short-run tradeoff! * Summary When individuals make decisions, they face tradeoffs. Rational people make decisions by comparing marginal costs and marginal benefits. * Summary People can benefit by trading with each other. Markets are usually a good way of coordinating trades. Government can potentially improve market outcomes. * Summary A country’s productivity determines its living standards. Society faces a short-run tradeoff between inflation and unemployment. * * * * * * * * 7 * 7 * 7 * * * 9 * 10 * 10 * 11 * 12 * 10 * 15 * 16 * 16 * 16 * 17 * 17 * 18 * 17 * 21 * 21 * 22 Harcourt, Inc. items and derived items copyright ? 2001 by Harcourt, Inc. A Lecture Presentation in PowerPoint to Accompany Principles of Economics Second Edition by N. Gregory Mankiw Prepared by Mark P. Karscig, Department of Economics Finance, Central Missouri State University. * Ten Principles of Economics Chapter 1 Copyright ? 2001 by Harcourt, Inc.All rights reserved.?? Requests for permission to make copies of any part of thework should be mailed to: Permissions Department, Harcourt College Publishers,6277 Sea Harbor Drive, Orlando, Florida 32887-6777. * Economy. . . . . . The word economy comes from a Greek word for “one who manages a household.” * A household and an economy face many decisions: Who will work? What goods and how many of them should be produced? What resources should be used in production? At what price should the goods be sold? * Society and Scarce Resources: The management of society’s resources is important because resources are scarce. * Scarcity . . . . . . means that society has limited resources and therefore cannot produce all the goods and services people wish to have. * Economics Economics is the study of how society manages its scarce resources.