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CAPITAL ACCOUNT DEFICIT: An imbalance in a nation's balance of payments capital account in which payments made by the country for purchasing foreign assets exceed payments received by the country for selling domestic assets. In other words, investment by the domestic economy in foreign assets is less than foreign investment in domestic assets. This is generally not a desireable situation for a domestic economy. However, in the wacky world of international economics, a capital account deficit is often balanced by a current account surplus, which is generally considered a desireable situation. If, however, the current account does not balance out the capital account, then a capital account deficit contributes to a balance of payments deficit.

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Lesson 9: Consumer Demand | Unit 4: The Curves Page: 17 of 22

Topic: Marginal Utility <=PAGE BACK | PAGE NEXT=>

  • The marginal utility curve is what provides the greatest insight into market demand and the law of demand.
  • The points plotted come from an infinite number of points that capture the relation between total utility and time at the beach.
  • Let's make a few observations about this curve.

    1. The marginal utility curve is negatively slope.
    2. It starts at a relatively high value, 12 utils, then declines as quantity increases.
    3. The negative slope and decline in the marginal utility curve illustrates the law of diminishing marginal utility.
    4. These observations are consistent with those made for the marginal utility schedule.

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MARGINAL ANALYSIS

A basic technique used in economics that analyzes small, incremental changes in key variables. Marginal analysis is the primary analytical approached used in the study of markets, production, consumption, business cycles, and economic policies. It not only reflects how most economic decisions are made, it also lends itself to mathematical and graphical analysis.

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Today, you are likely to spend a great deal of time searching for rummage sales looking to buy either a pair of red and purple designer socks or a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for gnomes hiding in cypress trees.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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