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Unformatted text preview: Many decisions in life involve making small incremental adjustments to an existing plan of action. Economist call these marginal changes Principle #4: People Respond to Incentives B. How People Interact Principle #5: Trade Can Make Everyone Better Off Principle #6: Markets are Usually a Good Way to Organize Economic Activity Principle #7: Government Can Sometimes Improve Market Outcomes C. How the Economy as a Whole Works Principle #8: A Countrys Standard of Living Depends on Its ability to Produce Goods and Services Principle #9: Prices Rise When the Government Prints Too Much Money Principle #10: Society Faces a Short-run Tradeoff Between Inflation and Unemployment...
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This note was uploaded on 01/14/2011 for the course ACCT C-090786 taught by Professor Prof.bantua during the Spring '10 term at Xavier - Ateneo de Cagayan.
- Spring '10