Slide 1Copyright©2004 South-Western 9 Application: International Trade Alþjóðaviðskipti Slide 2 Copyright © 2004 South-Western/Thomson Learning What determines whether…

Slide 1Copyright©2004 South-Western 9 Application: International Trade Slide 2 Copyright © 2004 South-Western/Thomson Learning What determines whether a country imports…

Slide 14 THE ECONOMICS OF THE PUBLIC SECTOR Slide 2 Copyright©2004 South-Western 10 Externalities Slide 3 Copyright © 2004 South-Western Recall: Adam Smith’s “invisible…

Slide 1Copyright © 2006 Thomson Learning 30 Money Growth and Inflation Slide 2 Figure 1 Money Supply, Money Demand, and the Equilibrium Price Level Copyright © 2004 South-Western…

Slide 1Copyright©2004 South-Western 16 Oligopoly Slide 2 Copyright © 2004 South-Western BETWEEN MONOPOLY AND PERFECT COMPETITION Imperfect competition refers to those market…

1. 3 SUPPLY AND DEMAND II: MARKETS AND WELFARE 2. Copyright © 2004 South-Western 77Consumers, Producers, and the Efficiency of Markets 3. Copyright © 2004 South-Western…

1. 4 THE ECONOMICS OF THE PUBLIC SECTOR 2. Copyright©2004 South-Western 1010Externalities 3. Copyright © 2004 South-Western • Recall: Adam Smith’s “invisible hand”…

Copyright©2004 South-Western 17 Monopolistic Competition Copyright © 2004 South-Western Monopolistic Competition •  Imperfect competition refers to those market structures…

Slide 1 Copyright©2004 South-Western 8 Application: The Costs of Taxation Slide 2 Copyright © 2004 South-Western/Thomson Learning Application: The Costs of Taxation Welfare…

Slide 1 6 THE ECONOMICS OF LABOR MARKETS Slide 2 Copyright©2004 South-Western 18 The Markets for the Factors of Production Markaður fyrir framleiðsluþætti Slide 3 Copyright…