Assume I am purchasing a home requiring a sustancial financial layout where the wrong decision has long-term financial consequences. Dicuss which of Mankiw’s principles of economics directly relate to my purchase decision. Compare the marginal benefits and the marginal costs associated with my purchase decision. Explain how the strength of the economy as a whole affected the marginal benefits and the marginal costs associated with the decision. Consider the roles of the domestic economy and international trade in my assessment of the strength of the economy. Determine what situations or conditions could have led me to make a different decision.
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