Group China -10 principles
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The document discusses several economic principles: governments can sometimes improve market outcomes; a country's standard of living depends on its ability to produce goods and services; prices rise when the government prints too much money; and society faces a short-run trade-off between inflation and unemployment.
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Group China -10 principles
- 9. PRINCIPLE 7: GOVERNMENTS CAN SOMETIMES IMPROVE MARKET OUTCOMES
- 10. PRINCIPLE 8: A COUNTRY’S STANDARD OF LIVING DEPENDS O ITS ABILITY TO PRODUCE GOODS AND SERVICES
- 11. Principle 9: Prices rise when the government prints too much money
- 12. Principle 10: Society Faces a Short-Run Trade-Off between Inflation and Unemployment