After seeing Doctor Holmes this morning, I went to work through I-5 Southbound to connect to I-90 East then I-405 South. It might be because of being after 9:00 am, the traffic wasn't as bad as I had expected.
Naturally, I came back home pretty late and fell into sleep until 10:00 pm when my son called me to ask if he left his earphone for IPhone at home. I just checked, it looked like he did. I will go to UW to buy a dinner for my first grade buddy's daughter. She is a senior at DePauw and came to Seattle to visit her boyfriend at UW. I can drop the earphone at my son's dorm after the dinner.
I plan to leave home for work in 20 minutes, let's see if I have time to wrap up my diary for yesterday. I have several books for macro/micro economics but want to base on Krugman's to walk through my comprehensive economic plan for my 2016 Presidential Campaign. This is the one my son used for his ECON 201 last quarter, deemed the most updated.
According to Krugman and his co-writer, Wells that all economic analysis is based on 12 principles:
- Group A: Individual Choices:
- #1 Choice necessary due to scarcity of resources
- #2 Opportunity Cost
- #3 Marginal decisions
- #4 Incentive-driven to having people exploiting opportunities
- Group B: Interactions of Individual Choices:
- #5 Gains in Trades
- #6 Markets towards Equilibrium
- #7 Resource used efficiently to achieve goals
- #8 Markets to efficiency
- #9 Government interventions to improve welfare
- Group C: Economy-wide interactions
- #10 My spending, your income
- #11 Overall spending out of line of productive capacity from time to time
- #12 Government policy to change spending
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