Principles of Economics

acre additional amount annual average bank billion business firms buyers capital Chapter commodity competition consumer consumption corporate currency decline demand curve deposits dollars earnings effect elasticity of demand equipment estimated example exchange expenditure families Federal Reserve fixed cost GNP per capita gross national income gross national product higher households important increase industry interest rates inventory labor force less loans Lorenz curve lower manhour manufacturing marginal cost marginal revenue markup ment monetary money supply multiplier nomic operating opportunity cost payments percent percentage personal income Phillips curve plant pollution population pounds productive capacity profits progressive tax purchase quantity ratio reduced relationship rent represented reserve ratio result rise sell shift shown in Figure SOURCE sumer supply Table tax rates tend tion trade unem unemployed unemployment United variable cost wage rates workers