Skip to main content
FlatWorld HomeFlatWorld Home
  • My Bookshelf

Table of Contents

    • About the Authors
    • Acknowledgments
    • Preface
    • 1The Central Idea
      • 1.1Scarcity and Choice for Individuals
      • 1.2Scarcity and Choice for the Economy as a Whole
      • 1.3Market Economies and the Price System
      • 1.4End-of-Chapter Material
    • 2Observing and Explaining the Economy

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 2.1Why Has Driving Shifted into Reverse?

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 2.2Variables, Correlation, and Causation

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 2.3Recommending Appropriate Policies

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 2.4End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 2.5Appendix: Reading, Understanding, and Creating Graphs

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 3The Supply and Demand Model

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 3.1Demand

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 3.2Supply

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 3.3Market Equilibrium: Combining Supply and Demand

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 3.4End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 4Subtleties of the Supply and Demand Model

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 4.1Interference with Market Prices

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 4.2Elasticity of Demand

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 4.3Working with Demand Elasticities

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 4.4Elasticity of Supply

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 4.5End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 5Macroeconomics: The Big Picture

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 5.1Measuring the “Size” of an Economy

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 5.2Unemployment, Inflation, and Interest Rates

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 5.3Macroeconomic Theory and Policy

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 5.4End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 5.5Appendix: The Miracle of Compound Growth

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 6Measuring the Production, Income, and Spending of Nations

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 6.1Measuring GDP

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 6.2Saving

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 6.3Measuring Real GDP

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 6.4Shortcomings of the GDP Measure

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 6.5End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 7The Spending Allocation Model

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 7.1The Spending Shares

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 7.2The Effect of Interest Rates on Spending Shares

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 7.3Determining the Equilibrium Interest Rate

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 7.4The Relationship between Saving and Investment

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 7.5End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 8Unemployment and Employment

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 8.1Unemployment and Other Labor Market Indicators

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 8.2The Nature of Unemployment

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 8.3Modeling the Labor Market

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 8.4End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 9Productivity and Economic Growth

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 9.1Labor and Capital without Technology

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 9.2Technology: The Engine of Growth

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 9.3Fundamental Causes of Economic Growth

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 9.4Measuring Technology

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 9.5Technology Policy

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 9.6End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 9.7Appendix: Deriving the Growth Accounting Formula

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 10Money and Inflation

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 10.1What Is Money?

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 10.2The Fed, the Banks, and the Link from Reserves to Deposits

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 10.3Money Growth and Inflation

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 10.4End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 11The Nature and Causes of Economic Fluctuations

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 11.1Changes in Aggregate Demand Lead to Changes in Production

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 11.2Forecasting Real GDP

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 11.3The Response of Consumption to Income

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 11.4Finding Real GDP When Consumption and Income Move Together

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 11.5Spending Balance and Departures of Real GDP from Potential GDP

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 11.6End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 11.7Appendix: Deriving the Formula for the Keynesian Multiplier and the Forward-Looking Consumption Model

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 12The Economic Fluctuations Model

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 12.1The Aggregate Demand Curve

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 12.2The Inflation Adjustment Line

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 12.3Combining the Aggregate Demand Curve and the Inflation Adjustment Line

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 12.4End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 13Using the Economic Fluctuations Model

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 13.1Changes in Government Purchases

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 13.2Changes in Monetary Policy

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 13.3Price Shocks

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 13.4Using the Economic Fluctuations Model to Understand the Great Recession

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 13.5Using the Economic Fluctuations Model to Understand the Impact of the COVID-19 Pandemic on the Macroeconomy

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 13.6End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 14Fiscal Policy

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 14.1The Government Budget

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 14.2Countercyclical Fiscal Policy

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 14.3The Structural versus the Cyclical Surplus

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 14.4End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 15Monetary Policy

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 15.1The Federal Reserve’s Balance Sheet

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 15.2Money Demand and Zero Interest Rate

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 15.3When the Interest Rate Hits Zero

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 15.4The Economic Fluctuations Model

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 15.5Central Bank Independence

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 15.6The Exchange Rate

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 15.7End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 16Capital and Financial Markets

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 16.1The Distinction between Physical Capital and Financial Capital

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 16.2Markets for Physical Capital

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 16.3Markets for Financial Capital

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 16.4The Trade-off between Risk and Returns

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 16.5Corporate Governance Problems

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 16.6The Role of Government in Financial Markets

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 16.7End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 16.8Appendix: Present Discounted Value

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 17Economic Growth Around the World

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 17.1Catching Up (or Not?)

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 17.2Economic Development

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 17.3The Spread and Use of Technology

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 17.4Increasing Capital per Worker

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 17.5End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 18International Trade

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 18.1Trends in International Trade

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 18.2Comparative Advantage

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 18.3Reasons for Comparative Advantage

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 18.4Gains from Expanded Markets

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 18.5Tariffs and Quotas

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 18.6The History of Trade Restrictions

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 18.7Arguments for Trade Barriers

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 18.8How to Reduce Trade Barriers

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 18.9End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

    • 19International Finance

      Preview Mode

      Login or Purchase this book to read the remaining sections.

      LoginBuy Now or Redeem Code

      • 19.1Exchange Rates

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 19.2Exchange Rate Determination

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 19.3Fixed Exchange Rates

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 19.4Currency Unions

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code

      • 19.5End-of-Chapter Material

        Preview Mode

        Login or Purchase this book to read the remaining sections.

        LoginBuy Now or Redeem Code