ec-10 - a Capital i Produced goods that produce other goods...

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Computers Cars Ex: Tech. Adv. In Computer Product. (Steeper) Computers Cars 9/9 I. Positive vs. Normative Statements a. Positive i. A statement about what is 1. Can be descriptive 2. Can be “what will occur if something happens?” a. If… then ii. CAN BE TESTED b. Normative i. Requires value judgment 1. Can’t be tested a. “better”, “fairer”, “just”, “should be” ii. Goals are normative 1. “the purpose” iii. Political statements II. Capital/ Consumption Tradeoff
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Unformatted text preview: a. Capital i. Produced goods that produce other goods 1. More capital now a. Bigger shift next period b. Faster economic growth c. Rising living of standards 2. But… more capital now = less consumption b. Consumption i. Satisfy wants of consumers III. Shifts of PPF a. Change in resources or technology When both outputs are affected i. Change when only 1 good is affected...
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This note was uploaded on 04/19/2011 for the course ECON 200 taught by Professor Staff during the Winter '09 term at Indiana.

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ec-10 - a Capital i Produced goods that produce other goods...

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