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Chapter 1The Fundamentalsof Economics
T-1Figure 1-1The Production Possibilitiesin a Graph
A Smooth Curve Connects the Plotted Points of the Numerical Production PossibilitiesT-2Figure 1-2
Economic Growth Shiftsthe PPF OutwardT-3Figure 1-3
Economies Must Choose Between Public Goods and Private GoodsT-4Figure 1-4
Investment for Future Consumption Requires Sacrificing Current ConsumptionT-5Figure 1-5
Appendix 1How to Read Graphs
Six Possible Pairs of Food-Machines Production LevelsT-6Figure 1A-1
A Production-Possibility FrontierT-7Figure 1A-2
Calculation of Slopefor Straight LinesT-8Figure 1A-3
Steepness is not the Same as SlopeT-9Figure 1A-4
Tangent as Slope of Curved LineT-10Figure 1A-5
Different Slopesof Nonlinear CurvesT-11Figure 1A-6
Shift of CurvesVersus Movement Along CurvesT-12Figure 1A-7
Scatter Diagram of Consumption Function Shows Important Macroeconomic LawT-13Figure 1A-8
Chapter 2Markets and Governmentin a Modern Economy
T-14Figure 2-1The Market System Relies on Supplyand Demand to Solve the Trioof Economic Problems
Chapter 3Basic Elements of Supplyand Demand
T-15Figure 3-1Gasoline Prices Move with Demand and Supply ChangesSource: U.S. Department of Energy and Labor
A Downward-Sloping Demand Curve Relates Quantity Demanded to PriceT-16Figure 3-2
Declining Computer Prices Have Fueled an Explosive Growth in Computer PowerT-17Figure 3-3Source: Department of Commerce estimates of real output and prices.Note that the data are plotted on ratio scales.
Increase in Demand for AutomobilesT-18Figure 3-4
Supply Curve Relates Quantity Supplied to PriceT-19Figure 3-5
Increased Supply of AutomobilesT-20Figure 3-6
Market Equilibrium Comes at the Intersection of Supply and Demand CurvesT-21Figure 3-7
Shifts in Supply or Demand Change Equilibrium Price and QuantityT-22Figure 3-8
Shifts of and Movementsalong CurvesT-23Figure 3-9
Impact of Immigration on WagesT-24Figure 3-10
Chapter 4Applications of Supplyand Demand
T-25Figure 4-1Elastic
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