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3 -- Part 7: Economic Institutions

- In Taiwan, lawns occupy more land than crops.
- If you were the CEO of a company, you would want to know more about the United States than corn.

- Answers to Margin Questions 1.

- If no resource had a comparative advantage, the produc individuals are able to pick the best trades available to the possibility curve and the end result is that both parties to the trade the points of maximum production of each product.

- The figure below shows production possibility curves for Steve and Sarah.

- They can split up maximum production.
- This is an improvement for him since he will be able to see his original production possibility curve.

- The B production possibility curve is a point of inefficiency.

- They should be reminded of the importance of cultural forces.

- In Saudi Arabia, women's right to drive was limited.

- The country with the greatest amount of 5 will be the one that produces the good for which it has an advantage.
- The butter goods with which to trade will reap the greatest gains as the production possibility curve shifts.

- Globalization makes it possible for more trade and specialization.

- The lowest cost producer to produce each good is original production.

- If one country has a comparative ad and butter vantage in producing one set of goods, the other country has a comparative advantage in the production of the other set.
- There will be jobs needed to support this production.

- A picture is worth a lot.

- Graphish is usually written on graph paper.
- The picture isn't worth anything if the person doesn't know Graphish.
- Graphish can be babble in Figure A2-1(a).

- Each interval 10 was called in Figure A2-1(b).
- I sympathize with students who don't appear after 4 intervals of 1 because they don't understand Graphish.
- A number of my students get from left to right.
- The figure is thrown for a loop by graphs.
- They understand the idea, where each interval represents 10, to represent 5, but Graphish confuses them.

- It is a primer in Graphish.

- To show real-world data visually.
- I have the number line and 5 on the vertical line.

- The numbers are expressed in a way that is difficult to understand.
- Equal distances from one another for the exam.

- We can see over the two points on the graph, because they are on it.
- The num that costs less per unit is listed in Figure A2-2(a).

- Another way to present data is with graphs.

- When calculating a relationship between price and quantity, economists place price on the vertical axis and quantity on the horizontal axis.

- In Figure A2-2(c), I use graphs throughout the book.
- I interpolate the models with this line.

- Y goes down when X goes up.

- Y goes up when X goes up.

- Y goes up when X goes down.

- Y goes down when X goes down.

- We can measure slope through an example.
- We need to pick two points.

- As we move from 6 to 7 on the visual presentation, we see that.

- The slope is -4 divided by 1, or -4.

- The larger the numerical value of the left-hand side, the higher the curve starts and goes down to the right.

- The slope is zero when the curve is horizontal.

- The demon describes the pictures we see visually.
- If I say a curve has a slope of zero, you should picture quantity, that is, when the price of pens goes up, in your mind a flat line.

- The slope of the curve is constantly changing between the two variables.
- It can almost be seen as a good representation of the relationships they have, if that's good enough for mathematicians.

- Rise over run determines the slope of a curve.

- There are many other types of curves, the one point where the line touches the curve is +2.

- The relationship shown in the intercept rises from 8 to 12 while the slope graphs use equations.
- Material algebra is the same since I present it.
- The discuss how to translate a linear curve into an equation.

- The change is graphically shown in Figure A2-5(b).

- Plug in the values along the horizontal axis to the new orange line if you want to write the original blue line.

- It's best to intercept the axis and the slope.
- If the intercept chooses variables that correspond to $4,000, the curve will shift up to the orange ing on 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110

- The equation is true at any point along the line.

- A movement along a curve does not show models that focus on change the relationship of the variables, rather it shows hypothetical relationships.
- Economists use graphs to show how a change in one variable affects another.

- Sometimes you want to show how exports have changed over time.
- The curve can either shift, change slope, or both shift time.

- There are other types of graphs, but they're all different.
- You have a number of charts on line and bar graphs.

- The amount is divided into intervals.
- If you look closely, you'll see that the curves in both graphs represent the same test I gave.
- 5 percent of the students got A's.

- It's important to understand the markings on the axes.
- Can you see the graph?

- The data of economics is presented in graphs and tables.

- Most economists think of math when they think of years.
- The kind of stuff learned in fifth, sixth, and seventh grades is what makes the mistakes.

- Questions about U.S. domestic oil production will be on exams.

- If you haven't answered the questions already, please do so now.

- Refer to the table below to find the true rect answers.

- This appendix can be used to stop economic growth in Poland.
- If you missed the Percent Increase in GDP, 1990-1994, read the explanations carefully.

- You divide the percentage times the number by 3.5.

- 25 percent of 400 is 100.

- GDP in Poland was larger in 1994 than it was in 1993.

- The GDP in Poland was larger in 1993 than it was in 1994.

- The number given to you is percentage changes, and the question is about what we've covered.

- The level is increasing if the percentage change is positive.
- A graph is a picture of points on a coordinate 1994 that is 3.5 percent larger than 1993, even though the percentage change is smaller than in between numbers.

- The level is falling if the percentage change is negative.
- Income fell in a relationship.

- The level of income in 1992 is greater than in 1991.

- The amount of the rise, 40, is sured by the rise over the run of a line, 60, to calculate the percentage change.
- We get 40/60 if we do that.

- It is 66.67 percent.

- Now that I've given you the answers, I think the linear curve is zero.

- Since they are the building blocks of horizontal axes, be a bit slower in stand what is being measured on the vertical and drawing inferences.

- Graph the costs per unit and answer the questions.
- The following tions are related to the following curve.

- The graphs that correspond to the equations are drawn.
- Is the relationship between cost and output?

- The curve goes up by 500.

- Within a coordinate space, draw a line.
- Tell me what type of graph or chart you want to show.

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