eco-journal 1

eco-journal 1 - Duc Hoang ECO 210 Principles of Economics...

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Duc Hoang – ECO 210 Principles of Economics Journal 1: U.S. Presidential Election spending and Chapter 1 Let’s consider the 2008 election as an economic situation. First, consider the candidates as an individual unit, in order to win the highest position in the nation’s highest office, the candidates spend over $1 billion on their campaign: “television and radio commercials; travel expenses; signs and posters; and rented office space” (Journal Assignment). In term of Economics, the opportunity cost of getting a chance to be elected as the President of the United States is $1 billion. Second, consider the volunteers as an individual unit, the opportunity cost of supporting their candidates is time and intelligence spent on the campaigns. Third, the amount of $1 billion might be sponsored by the organizations, corporations and various companies. Consider those organizations as an individual unit, the opportunity cost of making their trademarks popular is spending money which can be used to make
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This note was uploaded on 03/10/2011 for the course ECON 101 taught by Professor Duc during the Spring '05 term at Linfield.

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eco-journal 1 - Duc Hoang ECO 210 Principles of Economics...

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