Ten Principles of Economics How the Economy as a Whole works 8. The standard of living depends on a country's production 9. Prices rise when the government prints too much money 10. Society faces a short-run tradeoff between inflation and unemployment Harcourt, Inc. items and derived items copyright o 200l by harcourt, Inc
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. Ten Principles of Economics 8. The standard of living depends on a country’s production. 9. Prices rise when the government prints too much money. 10. Society faces a short-run tradeoff between inflation and unemployment. How the Economy as a Whole Works
1. People face tradeoffs “ There is no such thing as a free lunch> Harcourt, Inc. items and derived items copyright o 200l by harcourt, Inc
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. 1. People face tradeoffs. “There is no such thing as a free lunch!