Principles and Problems of Modern Economics |
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Page 330
... fall , at least until people begin to feel that it will not fall any more but may instead rise . Now this is what happened when the government tried to improve conditions by increasing the quantity of money during the depression ...
... fall , at least until people begin to feel that it will not fall any more but may instead rise . Now this is what happened when the government tried to improve conditions by increasing the quantity of money during the depression ...
Page 334
... fall nearly as much in the de- pression of the 1930's as did output . In the mild recession of 1948 , un- employment increased to nearly 5 million , but prices did not fall very much . Output has to fall considerably before prices begin ...
... fall nearly as much in the de- pression of the 1930's as did output . In the mild recession of 1948 , un- employment increased to nearly 5 million , but prices did not fall very much . Output has to fall considerably before prices begin ...
Page 380
... fall people may merely wait for them to fall further and not buy . Would you buy a car for $ 2500 if you feel you can get one for $ 2000 next year ? Of course , as prices fall , money is worth more in real terms . The value of people's ...
... fall people may merely wait for them to fall further and not buy . Would you buy a car for $ 2500 if you feel you can get one for $ 2000 next year ? Of course , as prices fall , money is worth more in real terms . The value of people's ...
Contents
The Development of Modern Economic Problems | 23 |
Economic | 39 |
A Simple Model of the Economy | 53 |
Copyright | |
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Adam Smith agricultural amount areas assets average bank become billion capital commodity consumer consumption corporation cost curve cycle debt demand curve depression diagram discussion dollar economists economy effect efficiency elasticity enterprise equal equilibrium example expenditures exports factor factors of production farmers Federal Reserve Figure firm full employment gold higher important increase indifference curve individual industry inelastic inflation interest rate investment labor large number less manufacturing marginal cost marginal product marginal revenue means ment mercantilists merely monetary monopolistic competition multiplier national income operations organized output payments percent problem profits purchase pure competition quantity ratio real income reduce rent reserve ratios result saving schedule sell situation slope social spending sumer supply and demand supply curve surplus tariff taxes tend theory tion trade union United wages workers