Economics and the Modern World

acceleration principle actual agricultural American amount antitrust assets average cost bank bonds business firms buyers capital cash cent chapter consumer consumption corporation debt demand curve deposits dollars earnings economic economists effect elasticity employment enterprise equal equilibrium example exchange expand expenditures exports fact farm farmers Federal Reserve Figure firm's foreign higher price important income tax increase industry inelastic inflation inputs interest rate investment labor land less loans long-run marginal cost marginal utility ment million money supply monopolistic monopolistic competition monopoly national income needed nomic oligopoly output owners payments percentage person price mechanism production profit progressive taxation purchases quantity reduced rent revenue rise saving schedule sell sellers shifted simply sold stockholders sumers supply and demand supply curve Table tariff things tion total spending trade U.S. Steel union United wage wants wheat workers worth