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Current
Table of Contents
About the Authors
Acknowledgments
Preface
1
Economics: The Study of Choice
1.1
Start Up: Economics in the News
1.2
Defining Economics
1.3
The Field of Economics
1.4
The Economists’ Tool Kit
1.5
Review and Practice
2
Confronting Scarcity: Choices in Production
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2.1
Start Up: An Attempt to Produce Safer Air Travel
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2.2
Factors of Production
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2.3
The Production Possibilities Curve
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2.4
Applications of the Production Possibilities Model
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2.5
Review and Practice
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3
Demand and Supply
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3.1
Start Up: Crazy for Coffee
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3.2
Demand
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3.3
Supply
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3.4
Demand, Supply, and Equilibrium
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3.5
Review and Practice
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4
Applications of Demand and Supply
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4.1
Start Up: A Composer Logs On
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4.2
Putting Demand and Supply to Work
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4.3
Government Intervention in Market Prices: Price Floors and Price Ceilings
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4.4
The Market for Health-Care Services
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4.5
Review and Practice
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5
Macroeconomics: The Big Picture
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5.1
Start Up: Economy Limps Along
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5.2
Growth of Real GDP and Business Cycles
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5.3
Price-Level Changes
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5.4
Unemployment
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5.5
Review and Practice
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6
Measuring Total Output and Income
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6.1
Start Up: The Lockup
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6.2
Measuring Total Output
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6.3
Measuring Total Income
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6.4
GDP and Economic Well-Being
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6.5
Review and Practice
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7
Aggregate Demand and Aggregate Supply
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7.1
Start Up: The Great Warning
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7.2
Aggregate Demand
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7.3
Aggregate Demand and Aggregate Supply: The Long Run and the Short Run
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7.4
Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium
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7.5
Review and Practice
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8
Economic Growth
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8.1
Start Up: How Important Is Economic Growth?
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8.2
The Significance of Economic Growth
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8.3
Growth and the Long-Run Aggregate Supply Curve
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8.4
Determinants of Economic Growth
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8.5
Review and Practice
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9
The Nature and Creation of Money
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9.1
Start Up: How Many Macks Does It Cost?
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9.2
What Is Money?
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9.3
The Banking System and Money Creation
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9.4
The Federal Reserve System
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9.5
Review and Practice
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10
Financial Markets and the Economy
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10.1
Start Up: Clamping Down on Money Growth
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10.2
The Bond and Foreign Exchange Markets
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10.3
Demand, Supply, and Equilibrium in the Money Market
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10.4
Review and Practice
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11
Monetary Policy and the Fed
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11.1
Start Up: The Fed’s Extraordinary Challenges in 2008
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11.2
Monetary Policy in the United States
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11.3
Problems and Controversies of Monetary Policy
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11.4
Monetary Policy and the Equation of Exchange
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11.5
Review and Practice
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12
Government and Fiscal Policy
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12.1
Start Up: A Massive Stimulus
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12.2
Government and the Economy
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12.3
The Use of Fiscal Policy to Stabilize the Economy
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12.4
Issues in Fiscal Policy
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12.5
Review and Practice
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13
Consumption and the Aggregate Expenditures Model
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13.1
Start Up: A Dismal Year for Retailers
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13.2
Determining the Level of Consumption
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13.3
The Aggregate Expenditures Model
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13.4
Aggregate Expenditures and Aggregate Demand
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13.5
Review and Practice
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14
Investment and Economic Activity
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14.1
Start Up: Jittery Firms Slash Investment
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14.2
The Role and Nature of Investment
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14.3
Determinants of Investment
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14.4
Investment and the Economy
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14.5
Review and Practice
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15
Net Exports and International Finance
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15.1
Start Up: Currency Crises Shake the World
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15.2
The International Sector: An Introduction
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15.3
International Finance
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15.4
Exchange Rate Systems
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15.5
Review and Practice
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16
Inflation and Unemployment
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16.1
Start Up: The Inflation/Unemployment Conundrum
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16.2
Relating Inflation and Unemployment
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16.3
Explaining Inflation–Unemployment Relationships
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16.4
Inflation and Unemployment in the Long Run
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16.5
Review and Practice
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17
A Brief History of Macroeconomic Thought and Policy
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17.1
Start Up: Three Revolutions in Macroeconomic Thought
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17.2
The Great Depression and Keynesian Economics
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17.3
Keynesian Economics in the 1960s and 1970s
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17.4
Macroeconomics for the 21st Century
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17.5
Review and Practice
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18
Inequality, Poverty, and Discrimination
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18.1
Start Up: Occupy Wall Street and the World
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18.2
Income Inequality
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18.3
The Economics of Poverty
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18.4
The Economics of Discrimination
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18.5
Review and Practice
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A
Graphs in Economics
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A.1
How to Construct and Interpret Graphs
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A.2
Nonlinear Relationships and Graphs without Numbers
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A.3
Using Graphs and Charts to Show Values of Variables
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B
Extensions of the Aggregate Expenditures Model
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B.1
The Algebra of Equilibrium
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B.2
The Aggregate Expenditures Model and Fiscal Policy
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B.3
Review and Practice
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