TAILIEUCHUNG - Lecture Issues in economics today - Chapter 10

After studying this chapter you will be able to understand: Give the names and summarize the main characteristics of the four basic market models, list the conditions required for purely competitive markets, convey how purely competitive firms maximize profits or minimize losses in the short run, explain why a competitive firm’s marginal cost curve is the same as its supply curve. | Chapter 10 Federal Deficits, Surpluses, and the National Debt Chapter Outline Surpluses, Deficits, and the Debt: Definition and History How Economists See the Debt Who Owns the Debt A Balanced Budget Amendment Projections of the Future Surpluses, Deficits, and the Debt: Definitions Budget Deficit: the amount by which expenditures exceed revenues Budget Surplus: the amount by which revenues exceed expenditures National Debt: the total amount owed by the federal government Off vs. On Budget Off-budget: parts of the budget designated by Congress as separate from the normal budget. Programs that operate with their own revenue sources and have trust funds; Social Security, Medicare, and the Post Office are examples. On-budget: parts of the budget that rely entirely or mostly on general revenue. History of Deficits, Surpluses, and the National Debt Revolutionary War debt $75 million Closest budget to balance (no deficit or surplus) was $3800 in 1835 There were more years of surplus than .

• Kinh tế học
• Economic principles
• Economic policies
• Lecture Economics
• Pure competition
• Market models
• Purely competitive markets
• Principles of economics
• Lecture Principles of economics
• Aggregate demand
• Aggregate supply
• Short run economic fluctuations
• Economic fluctuations
• Market imperfections
• The international economy
• Economic growth
• Average labor productivity
• Short term economic fluctuations
• Symptoms of business cycles
• Lecture Microeconomics
• Economic problem
• Economic rent
• Economic profit
• Modern economic growth
• Growth accounting
• Economic immigrants
• Legal immigrants
• Demand shocks
• Loanable funds theory
• Lecture Macroeconomics
• Kinh tế vĩ mô
• Economic theory
• Economic perspective
• Marginal analysis
• Economic systems
• Market system
• The cost of production
• Economic costs
• economic
• management
• Principles of Microeconomics
• ten principles of economics
• tradeoffs
• rational
• Micro ECON 5
• Economic analysis
• Economic decision makers
• Cost in the firm
• Production in the short run
• Thinking like an economist
• Economic models
• Circular flow diagram
• Production possibilities frontier