Principles of Macroeconomics 2e
Free

Principles of Macroeconomics 2e

By Unknown
Free
Book Description
Table of Contents
  • Preface
    • 1. About OpenStax
    • 2. About OpenStax resources
    • 3. About Principles of Macroeconomics 2e
    • 4. Additional resources
    • 5. About the authors
  • Chapter 1. Welcome to Economics!
    • 1.1. What Is Economics, and Why Is It Important?*
    • 1.2. Microeconomics and Macroeconomics*
    • 1.3. How Economists Use Theories and Models to Understand Economic Issues*
    • 1.4. How To Organize Economies: An Overview of Economic Systems*
    • Glossary
  • Chapter 2. Choice in a World of Scarcity
    • 2.1. How Individuals Make Choices Based on Their Budget Constraint*
    • 2.2. The Production Possibilities Frontier and Social Choices*
    • 2.3. Confronting Objections to the Economic Approach*
    • Glossary
  • Chapter 3. Demand and Supply
    • 3.1. Demand, Supply, and Equilibrium in Markets for Goods and Services*
    • 3.2. Shifts in Demand and Supply for Goods and Services*
    • 3.3. Changes in Equilibrium Price and Quantity: The Four-Step Process*
    • 3.4. Price Ceilings and Price Floors*
    • 3.5. Demand, Supply, and Efficiency*
    • Glossary
  • Chapter 4. Labor and Financial Markets
    • 4.1. Demand and Supply at Work in Labor Markets*
    • 4.2. Demand and Supply in Financial Markets*
    • 4.3. The Market System as an Efficient Mechanism for Information*
    • Glossary
  • Chapter 5. Elasticity
    • 5.1. Price Elasticity of Demand and Price Elasticity of Supply*
    • 5.2. Polar Cases of Elasticity and Constant Elasticity*
    • 5.3. Elasticity and Pricing*
    • 5.4. Elasticity in Areas Other Than Price*
    • Glossary
  • Chapter 6. The Macroeconomic Perspective
    • 6.1. Measuring the Size of the Economy: Gross Domestic Product*
    • 6.2. Adjusting Nominal Values to Real Values*
    • 6.3. Tracking Real GDP over Time*
    • 6.4. Comparing GDP among Countries*
    • 6.5. How Well GDP Measures the Well-Being of Society*
    • Glossary
  • Chapter 7. Economic Growth
    • 7.1. The Relatively Recent Arrival of Economic Growth*
    • 7.2. Labor Productivity and Economic Growth*
    • 7.3. Components of Economic Growth*
    • 7.4. Economic Convergence*
    • Glossary
  • Chapter 8. Unemployment
    • 8.1. How Economists Define and Compute Unemployment Rate*
    • 8.2. Patterns of Unemployment*
    • 8.3. What Causes Changes in Unemployment over the Short Run*
    • 8.4. What Causes Changes in Unemployment over the Long Run*
    • Glossary
  • Chapter 9. Inflation
    • 9.1. Tracking Inflation*
    • 9.2. How to Measure Changes in the Cost of Living*
    • 9.3. How the U.S. and Other Countries Experience Inflation*
    • 9.4. The Confusion Over Inflation*
    • 9.5. Indexing and Its Limitations*
    • Glossary
  • Chapter 10. The International Trade and Capital Flows
    • 10.1. Measuring Trade Balances*
    • 10.2. Trade Balances in Historical and International Context*
    • 10.3. Trade Balances and Flows of Financial Capital*
    • 10.4. The National Saving and Investment Identity*
    • 10.5. The Pros and Cons of Trade Deficits and Surpluses*
    • 10.6. The Difference between Level of Trade and the Trade Balance*
    • Glossary
  • Chapter 11. The Aggregate Demand/Aggregate Supply Model
    • 11.1. Macroeconomic Perspectives on Demand and Supply*
    • 11.2. Building a Model of Aggregate Demand and Aggregate Supply*
    • 11.3. Shifts in Aggregate Supply*
    • 11.4. Shifts in Aggregate Demand*
    • 11.5. How the AD/AS Model Incorporates Growth, Unemployment, and Inflation*
    • 11.6. Keynes’ Law and Say’s Law in the AD/AS Model*
    • Glossary
  • Chapter 12. The Keynesian Perspective
    • 12.1. Aggregate Demand in Keynesian Analysis*
    • 12.2. The Building Blocks of Keynesian Analysis*
    • 12.3. The Phillips Curve*
    • 12.4. The Keynesian Perspective on Market Forces*
    • Glossary
  • Chapter 13. The Neoclassical Perspective
    • 13.1. The Building Blocks of Neoclassical Analysis*
    • 13.2. The Policy Implications of the Neoclassical Perspective*
    • 13.3. Balancing Keynesian and Neoclassical Models*
    • Glossary
  • Chapter 14. Money and Banking
    • 14.1. Defining Money by Its Functions*
    • 14.2. Measuring Money: Currency, M1, and M2*
    • 14.3. The Role of Banks*
    • 14.4. How Banks Create Money*
    • Glossary
  • Chapter 15. Monetary Policy and Bank Regulation
    • 15.1. The Federal Reserve Banking System and Central Banks*
    • 15.2. Bank Regulation*
    • 15.3. How a Central Bank Executes Monetary Policy*
    • 15.4. Monetary Policy and Economic Outcomes*
    • 15.5. Pitfalls for Monetary Policy*
    • Glossary
  • Chapter 16. Exchange Rates and International Capital Flows
    • 16.1. How the Foreign Exchange Market Works*
    • 16.2. Demand and Supply Shifts in Foreign Exchange Markets*
    • 16.3. Macroeconomic Effects of Exchange Rates*
    • 16.4. Exchange Rate Policies*
    • Glossary
  • Chapter 17. Government Budgets and Fiscal Policy
    • 17.1. Government Spending*
    • 17.2. Taxation*
    • 17.3. Federal Deficits and the National Debt*
    • 17.4. Using Fiscal Policy to Fight Recession, Unemployment, and Inflation*
    • 17.5. Automatic Stabilizers*
    • 17.6. Practical Problems with Discretionary Fiscal Policy*
    • 17.7. The Question of a Balanced Budget*
    • Glossary
  • Chapter 18. The Impacts of Government Borrowing
    • 18.1. How Government Borrowing Affects Investment and the Trade Balance*
    • 18.2. Fiscal Policy and the Trade Balance*
    • 18.3. How Government Borrowing Affects Private Saving*
    • 18.4. Fiscal Policy, Investment, and Economic Growth*
    • Glossary
  • Chapter 19. Macroeconomic Policy Around the World
    • 19.1. The Diversity of Countries and Economies across the World*
    • 19.2. Improving Countries’ Standards of Living*
    • 19.3. Causes of Unemployment around the World*
    • 19.4. Causes of Inflation in Various Countries and Regions*
    • 19.5. Balance of Trade Concerns*
    • Glossary
  • Chapter 20. International Trade
    • 20.1. Absolute and Comparative Advantage*
    • 20.2. What Happens When a Country Has an Absolute Advantage in All Goods*
    • 20.3. Intra-industry Trade between Similar Economies*
    • 20.4. The Benefits of Reducing Barriers to International Trade*
    • Glossary
  • Chapter 21. Globalization and Protectionism
    • 21.1. Protectionism: An Indirect Subsidy from Consumers to Producers*
    • 21.2. International Trade and Its Effects on Jobs, Wages, and Working Conditions*
    • 21.3. Arguments in Support of Restricting Imports*
    • 21.4. How Governments Enact Trade Policy: Globally, Regionally, and Nationally*
    • 21.5. The Tradeoffs of Trade Policy*
    • Glossary
  • Appendix A. The Use of Mathematics in Principles of Economics*
    • A.1. Algebraic Models
    • A.2. Growth Rates
    • A.3. Displaying Data Graphically and Interpreting the Graph
    • A.4. Key Concepts and Summary
    • A.5. Review Questions
  • Appendix B. The Expenditure-Output Model*
    • B.1. The Axes of the Expenditure-Output Diagram
    • B.2. Building the Aggregate Expenditure Schedule
    • B.3. Equilibrium in the Keynesian Cross Model
    • B.4. The Multiplier Effect
    • B.5. Key Concepts and Summary
    • B.6. Self-Check Questions
    • B.7. Review Questions
    • B.8. Critical Thinking Questions
    • B.9. References
  • Solutions
    • Chapter 1
    • Chapter 2
    • Chapter 3
    • Chapter 4
    • Chapter 5
    • Chapter 6
    • Chapter 7
    • Chapter 8
    • Chapter 9
    • Chapter 10
    • Chapter 11
    • Chapter 12
    • Chapter 13
    • Chapter 14
    • Chapter 15
    • Chapter 16
    • Chapter 17
    • Chapter 18
    • Chapter 19
    • Chapter 20
    • Chapter 21
  • References
    • Index
  • Blank Page
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