Saturday, November 10, 2012

Chapter two-- Meet too extreme(3)



























































《Principles of economics》.Mankiw
The Chinese word is Principles of economics; Mankiw in English.



1(people face trade-offs)




2(the cost of something is what you give up to get it)





3(rational people think at margin)





4(people respond to incentives)










5(trade can make everyone better off)


Let masculine that do trade is good. Then feminine is bad.









6(markets are usually a good way to organize economic activity)






7(governments can sometimes improve market outcomes)










8(a country's standard of living depends on the its ability to produce goods and services)

 
It is “Acquired too extreme”.








9(prices rise when the government prints too much money)









10( society faces short-run trade-off between inflation and unemployment)





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