TAILIEUCHUNG - Lecture Macroeconomics (20/e): Chapter 3A - McConnell, Brue, Flynn

Chapter 3A - Additional examples of supply and demand. This appendix provides additional examples of demand and supply analysis using real-world economic occurrences. This is helpful for those trying to understand or explain current events. | Chapter 3A Additional Examples of Supply and Demand Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. This appendix provides additional examples of demand and supply analysis using real-world economic occurrences. This is helpful for those trying to understand or explain current events. Lettuce Supply shifts left for lettuce Weather destroys part of the crop Demand doesn’t change Consumers still want as much lettuce as before Equilibrium price rises which will reduce the quantity demanded LO7 As a result of bad weather, the supply of lettuce decreases and shifts to the left, but demand has not changed because there haven’t been any changes in any of the determinants of demand. When supply decreases, equilibrium price increases and quantity falls. Exchange Rates Exchange rates are the price of one country’s currency in terms of another country’s currency Currency appreciation

• Kinh tế học
• Lecture Microeconomics
• Economic problem
• Economic principles
• Economic policies
• Exchange rates
• Supply shifts
• Microeconomics theory
• Microeconomics applications
• Kinh tế vĩ mô
• Scope of microeconomic theory
• Normative analyses
• Demand curves
• Supply curves
• Consumer choice
• Theory of consumer choice
• Consumption choices
• Substitution effects
• Consumer choice theory
• Excise subsidies
• Economic efficiency
• Competitive equilibrium
• Relating output to inputs
• Empirical estimation
• Cost of production
• Shortrun cost
• Profit maximization
• Perfectly competitive markets
• Competitive model
• Excise taxation
• Monopolist’s demand
• Marginal revenue curves
• Product pricing
• Monopoly power
• Monopolistic competition
• Cournot model
• Game theory
• Economics of information
• Noncompetitive market models
• Iterated dominance
• Input demand curve
• Leisure choice
• Wage rates
• Minimum wage
• Hidden costs
• General equilibrium analysis
• Public goods