Principles of Economics | Alan Grant, Libby Rittenberg, and Timothy Tregarthen

- 1Economics: The Study of Choice
  - 1.1Start Up: Economics in the News
  - 1.2Defining Economics
  - 1.3The Field of Economics
  - 1.4The Economist’s Tool Kit
  - 1.5Review and Practice
- 2Confronting Scarcity: Choices in Production
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  - 2.1Start Up: An Attempt to Produce Safer Air Travel
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  - 2.2Factors of Production
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  - 2.3The Production Possibilities Curve
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  - 2.4Applications of the Production Possibilities Model
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  - 2.5Review and Practice
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- 3Demand and Supply
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  - 3.1Start Up: Crazy for Coffee
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  - 3.2Demand
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  - 3.3Supply
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  - 3.4Demand, Supply, and Equilibrium
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  - 3.5Review and Practice
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- 4Applications of Demand and Supply
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  - 4.1Start Up: Better. Faster. Cheaper.
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  - 4.2Putting Demand and Supply to Work
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  - 4.3Government Intervention in Markets: Price Floors and Price Ceilings
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  - 4.4Government Intervention in Markets: Taxes
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  - 4.5Review and Practice
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- 5Elasticity: A Measure of Response
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  - 5.1Start Up: Raise Fares? Lower Fares? What’s a Public Transit Manager to Do?
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  - 5.2The Price Elasticity of Demand
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  - 5.3Responsiveness of Demand to Other Factors
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  - 5.4Price Elasticity of Supply and Putting It All Together
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  - 5.5Review and Practice
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- 6Markets, Maximizers, and Efficiency
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  - 6.1Start Up: A Drive in the Country
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  - 6.2The Logic of Maximizing Behavior
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  - 6.3Maximizing in the Marketplace
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  - 6.4Market Failure
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  - 6.5Review and Practice
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- 7The Analysis of Consumer Choice
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  - 7.1Start Up: A Day at the Grocery Store
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  - 7.2The Concept of Utility
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  - 7.3Utility Maximization and Demand
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  - 7.4Review and Practice
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- 8Production and Cost
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  - 8.1Start Up: Street Cleaning Around the World
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  - 8.2Production Choices and Costs: The Short Run
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  - 8.3Production Choices and Costs: The Long Run
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  - 8.4Review and Practice
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- 9Competitive Markets for Goods and Services
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  - 9.1Start Up: Always on the Margin; Always on the Edge
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  - 9.2Perfect Competition: A Model
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  - 9.3Profit Maximization in the Short Run
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  - 9.4Perfect Competition in the Long Run
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  - 9.5Review and Practice
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- 10Monopoly
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  - 10.1Start Up: Surrounded by Monopolies
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  - 10.2The Nature of Monopoly
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  - 10.3The Monopoly Model
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  - 10.4Assessing Monopoly
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  - 10.5Review and Practice
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- 11The World of Imperfect Competition
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  - 11.1Start Up: Looking at the World Through Cash-Colored Glasses
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  - 11.2Monopolistic Competition: Competition Among the Many
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  - 11.3Oligopoly: Competition Among the Few
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  - 11.4Extensions of Imperfect Competition: Advertising and Price Discrimination
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  - 11.5Review and Practice
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- 12Factor Markets
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  - 12.1Start Up: College Pays
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  - 12.2Labor Markets: Demand and Supply
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  - 12.3Labor Markets in Perfect Competition
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  - 12.4Imperfectly Competitive Labor Markets: Monopoly and Monopsony
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  - 12.5Review and Practice
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- 13Public Finance and Public Choice
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  - 13.1Start Up: Your Tax Dollars at Work
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  - 13.2The Role of Government in a Market Economy
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  - 13.3Financing Government
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  - 13.4Choices in the Public Sector
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  - 13.5Review and Practice
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- 14International Trade
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  - 14.1Start Up: Support Your Local Poet
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  - 14.2The Gains from Trade
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  - 14.3Partial Equilibrium and Two-Way Trade
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  - 14.4Restrictions on International Trade
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  - 14.5Review and Practice
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- 15The Economics of the Environment and Natural Resources
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  - 15.1Start Up: Environmental Headwinds
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  - 15.2Maximizing the Net Benefits of Pollution
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  - 15.3Alternatives in Pollution Control
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  - 15.4Natural Resources and Conservation
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  - 15.5Review and Practice
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- 16Inequality, Poverty, and Discrimination
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  - 16.1Start Up: Occupy Wall Street; Change the World?
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  - 16.2Income Inequality
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  - 16.3The Economics of Poverty
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  - 16.4The Economics of Discrimination
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  - 16.5Review and Practice
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- 17Introduction to the Macroeconomy: Measuring the Economy’s Output
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  - 17.1Start Up: Your Uncertain Future
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  - 17.2Measuring Total Output: GDP and Its Components
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  - 17.3Real GDP, Economic Growth, and Business Cycles
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  - 17.4GDP and Economic Well-Being
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  - 17.5Review and Practice
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- 18The Price Level and Inflation
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  - 18.1Start Up: College Is More Expensive Than Ever . . . Or Is It?
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  - 18.2Measuring Prices and Inflation
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  - 18.3The Causes of Inflation
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  - 18.4The Consequences of Inflation
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  - 18.5Review and Practice
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- 19Unemployment
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  - 19.1Start Up: This One Was Different . . . But Was That Better or Worse?
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  - 19.2Measuring Unemployment
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  - 19.3The Nature of Unemployment
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  - 19.4Policy Implications of Unemployment
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  - 19.5Review and Practice
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- 20Aggregate Demand and Aggregate Supply
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  - 20.1Start Up: The Great Warning
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  - 20.2Aggregate Demand
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  - 20.3Aggregate Demand and Aggregate Supply: The Long Run and the Short Run
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  - 20.4Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium
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  - 20.5Review and Practice
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- 21Economic Growth
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  - 21.1Start Up: How Important Is Economic Growth?
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  - 21.2The Significance of Economic Growth
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  - 21.3Growth and the Long-Run Aggregate Supply Curve
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  - 21.4A Recipe for Economic Growth
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  - 21.5Review and Practice
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- 22The Nature and Creation of Money
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  - 22.1Start Up: Holy Mackerel—This Fish Story Is True!
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  - 22.2What Is Money?
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  - 22.3The Banking System and Money Creation
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  - 22.4The Federal Reserve System
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  - 22.5Review and Practice
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- 23Financial Markets and the Economy
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  - 23.1Start Up: Who Wants to Be a Millionaire?
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  - 23.2The Functions of Financial Instruments
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  - 23.3The Bond and Foreign Exchange Markets
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  - 23.4Demand, Supply, and Equilibrium in the Money Market
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  - 23.5Review and Practice
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- 24Monetary Policy and the Fed
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  - 24.1Start Up: The Fed Goes to War
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  - 24.2Monetary Policy in the United States
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  - 24.3Problems and Controversies of Monetary Policy
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  - 24.4The Trade-Off Between Inflation and Unemployment
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  - 24.5Review and Practice
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- 25Government and Fiscal Policy
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  - 25.1Start Up: A Massive Stimulus
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  - 25.2Government and the Economy
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  - 25.3The Use of Fiscal Policy to Stabilize the Economy
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  - 25.4Fiscal Policy in Practice
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  - 25.5Review and Practice
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- 26Consumption and the Aggregate Expenditures Model
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  - 26.1Start Up: Consumption Spending Plummets as the COVID-19 Recession Begins
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  - 26.2Determining the Level of Consumption
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  - 26.3The Aggregate Expenditures Model
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  - 26.4Aggregate Expenditures and Aggregate Demand
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  - 26.5Review and Practice
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- 27Investment and Economic Activity
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  - 27.1Start Up: Jittery Firms Slash Investment as Great Recession Unfolds
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  - 27.2The Role and Nature of Investment
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  - 27.3Determinants of Investment
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  - 27.4Investment and the Economy
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  - 27.5Review and Practice
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- 28Net Exports and International Finance
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  - 28.1Start Up: Currency Crises Shake the World
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  - 28.2The International Sector: An Introduction
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  - 28.3International Finance
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  - 28.4Exchange Rate Systems
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  - 28.5Review and Practice
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- 29A Brief History of Macroeconomic Thought and Policy
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  - 29.1Start Up: Three Revolutions in Macroeconomic Thought
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  - 29.2The Great Depression and Keynesian Economics
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  - 29.3Keynesian Economics in the 1960s and 1970s
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  - 29.4Macroeconomics for the Twenty-First Century
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  - 29.5Review and Practice
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- AGraphs in Economics
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  - A.1Graphs in Economics
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  - A.2Nonlinear Relationships and Graphs Without Numbers
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  - A.3Using Graphs and Charts to Show Values of Variables
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  - A.4Review and Practice
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- BThe Solow Model of Economic Growth
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  - B.1Capital Accumulation and Economic Growth
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  - B.2Review and Practice
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- CIndifference Curve Analysis of Consumer Choice
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  - C.1Indifference Curve Analysis: An Alternative Approach to Understanding Consumer Choice
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  - C.2Review and Practice
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