'Relatively cheaper' diaporamas de présentation

Chapter Eight

568 views • 44 slides

Slutsky Equation

918 views • 29 slides

Impacts of inflation

Impacts of inflation. Households. Inflation affects the distribution of real income. People on fixed incomes suffer as the purchasing power of their incomes (their real income) decrease as price levels rise.

246 views • 13 slides

Income and substitution effects

Income and substitution effects. Here we want to explore some more of the detail of a price change on the demand for a good. Here is the basic idea. Say the price of x falls. When this happens we think two things are at work: an income effect and a substitution effect.

381 views • 12 slides

Income and substitution effects

Income and substitution effects. Here we want to explore some more of the detail of a price change on the demand for a good. Here is the basic idea. Say the price of x falls. When this happens we think two things are at work: an income effect and a substitution effect.

251 views • 12 slides

Income and substitution effects

Income and substitution effects. Here we want to explore some more of the detail of a price change on the demand for a good. Here is the basic idea. Say the price of x falls. When this happens we think two things are at work: an income effect and a substitution effect.

357 views • 12 slides