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Principles of Macroeconomics

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Principles of Macroeconomics

Social Sciences
Publisher
LibreTexts
Source
LibreTexts
License
CC BY
Language
EN
Category
Economics
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Contents· 214 sections
  1. 01: Welcome to Economics
  2. 1.01: Introduction
  3. 1.02: What Economics Is and Why is it Important
  4. 1.03: Microeconomics and Macroeconomics
  5. 1.04: How Economists Use Theories and Models to Understand Economic Issues
  6. 1.05: Opportunity cost and the market
  7. 1.06: Aggregate output growth and business cycles
  8. 1.07: How Economies Can Be Organized- An Overview of Economic Systems
  9. 1.08: Data analysis
  10. 1.09: Data theory and economic models
  11. 1.10: Key Terms
  12. 1.11: Key Concepts and Summary
  13. 1.12: Self-Check Questions
  14. 1.13: Review Questions
  15. 1.14: Critical Thinking Questions
  16. 1.15: Choice in a World of Scarcity
  17. 02: Choice in a World of Scarcity
  18. 2.01: Introduction to Choice in a World of Scarcity
  19. 2.02: How Individuals Make Choices Based on Their Budget Constraint
  20. 2.03: The Production Possibilities Frontier and Social Choices
  21. 2.04: Confronting Objections to the Economic Approach
  22. 2.05: Key Terms
  23. 2.06: Key Concepts and Summary
  24. 2.07: Self-Check Questions
  25. 2.08: Review Questions
  26. 2.09: Critical Thinking Questions
  27. 2.10: Problems
  28. 03: Demand and Supply
  29. 3.01: Introduction to Demand and Supply
  30. 3.02: Demand Supply and Equilibrium in Markets for Goods and Services
  31. 3.03: Shifts in Demand and Supply for Goods and Services
  32. 3.04: Changes in Equilibrium Price and Quantity- The Four-Step Process
  33. 3.05: Price Ceilings and Price Floors
  34. 3.06: Demand Supply and Efficiency
  35. 3.07: Key Terms
  36. 3.08: Key Concepts and Summary
  37. 3.09: Self-Check Questions
  38. 3.10: Review Questions
  39. 3.11: Critical Thinking Questions
  40. 3.12: Problems
  41. 04: Elasticity
  42. 4.01: Introduction to Elasticity
  43. 4.02: Price Elasticity of Demand and Price Elasticity of Supply
  44. 4.03: Polar Cases of Elasticity and Constant Elasticity
  45. 4.04: Elasticity and Pricing
  46. 4.05: Elasticity in Areas Other Than Price
  47. 4.06: Key Terms
  48. 4.07: Key Concepts and Summary
  49. 4.08: Self-Check Questions
  50. 4.09: Review Questions
  51. 4.10: Critical Thinking Questions
  52. 4.11: Problems
  53. 05: Inequality Poverty and Discrimination
  54. 5.01: Income Inequality
  55. 5.02: The Economics of Poverty
  56. 5.03: The Economics of Discrimination
  57. 5.04: Review and Practice
  58. 06: The Macroeconomic Perspective
  59. 6.01: Introduction to the Macroeconomic Perspective
  60. 6.02: Measuring the Size of the Economy- Gross Domestic Product
  61. 6.03: Adjusting Nominal Values to Real Values
  62. 6.04: Tracking Real GDP over Time
  63. 6.05: Comparing GDP among Countries
  64. 6.06: How Well GDP Measures the Well-Being of Society
  65. 6.07: Key Terms
  66. 6.08: Key Concepts and Summary
  67. 6.09: Self-Check Questions
  68. 6.10: Review Questions
  69. 6.11: Critical Thinking Questions
  70. 6.12: Problems
  71. 07: Inflation
  72. 7.01: Introduction to Inflation
  73. 7.02: Tracking Inflation
  74. 7.03: How to Measure Changes in the Cost of Living
  75. 7.04: How the U.S. and Other Countries Experience Inflation
  76. 7.05: The Confusion Over Inflation
  77. 7.06: Indexing and Its Limitations
  78. 7.07: Key Terms
  79. 7.08: Key Concepts and Summary
  80. 7.09: Self-Check Questions
  81. 7.10: Review Questions
  82. 7.11: Critical Thinking Questions
  83. 7.12: Problems
  84. 08: Economic Growth
  85. 8.01: Introduction to Economic Growth
  86. 8.02: The Relatively Recent Arrival of Economic Growth
  87. 8.03: Labor Productivity and Economic Growth
  88. 8.04: Components of Economic Growth
  89. 8.05: Economic Convergence
  90. 8.06: Key Terms
  91. 8.07: Key Concepts and Summary
  92. 8.08: Self-Check Questions
  93. 8.09: Review Questions
  94. 8.10: Critical Thinking Questions
  95. 8.11: Problems
  96. 09: Unemployment
  97. 9.01: Introduction to Unemployment
  98. 9.02: How Economists Define and Compute Unemployment Rate
  99. 9.03: Patterns of Unemployment
  100. 9.04: What Causes Changes in Unemployment over the Short Run
  101. 9.05: What Causes Changes in Unemployment over the Long Run
  102. 9.06: Key Terms
  103. 9.07: Key Concepts and Summary
  104. 9.08: Self-Check Questions
  105. 9.09: Review Questions
  106. 9.10: Critical Thinking Questions
  107. 9.11: Problems
  108. 10: Money and Banking
  109. 10.01: Introduction to Money and Banking
  110. 10.02: Defining Money by Its Functions
  111. 10.03: Measuring Money- Currency M1 and M2
  112. 10.04: The Role of Banks
  113. 10.05: How Banks Create Money
  114. 10.06: Key Terms
  115. 10.07: Key Concepts and Summary
  116. 10.08: Self-Check Questions
  117. 10.09: Review Questions
  118. 10.10: Critical Thinking Questions
  119. 10.11: Problems
  120. 11: Monetary Policy and Bank Regulation
  121. 11.01: Introduction to Monetary Policy and Bank Regulation
  122. 11.02: The Federal Reserve Banking System and Central Banks
  123. 11.03: Bank Regulation
  124. 11.04: How a Central Bank Executes Monetary Policy
  125. 11.05: Monetary Policy and Economic Outcomes
  126. 11.06: Pitfalls for Monetary Policy
  127. 11.07: Key Terms
  128. 11.08: Key Concepts and Summary
  129. 11.09: Self-Check Questions
  130. 11.10: Review Questions
  131. 11.11: Critical Thinking Questions
  132. 11.12: Problems
  133. 12: Exchange Rates and International Capital Flows
  134. 12.01: Introduction to Exchange Rates and International Capital Flows
  135. 12.02: How the Foreign Exchange Market Works
  136. 12.03: Demand and Supply Shifts in Foreign Exchange Markets
  137. 12.04: Macroeconomic Effects of Exchange Rates
  138. 12.05: Exchange Rate Policies
  139. 12.06: Key Terms
  140. 12.07: Key Concepts and Summary
  141. 12.08: Self-Check Questions
  142. 12.09: Review Questions
  143. 12.10: Critical Thinking Questions
  144. 12.11: Problems
  145. 13: The Aggregate Demand Aggregate Supply Model
  146. 13.01: Introduction to the Aggregate Demand Aggregate Supply Model
  147. 13.02: Macroeconomic Perspectives on Demand and Supply
  148. 13.03: Building a Model of Aggregate Demand and Aggregate Supply
  149. 13.04: Shifts in Aggregate Supply
  150. 13.05: Shifts in Aggregate Demand
  151. 13.06: How the AD AS Model Incorporates Growth Unemployment and Inflation
  152. 13.07: Keynes Law and Says Law in the AD AS Model
  153. 13.08: Key Terms
  154. 13.09: Key Concepts and Summary
  155. 13.10: Self-Check Questions
  156. 13.11: Review Questions
  157. 13.12: Critical Thinking Questions
  158. 13.13: Problems
  159. 14: The Keynesian Perspective
  160. 14.01: Introduction to the Keynesian Perspective
  161. 14.02: Aggregate Demand in Keynesian Analysis
  162. 14.03: The Building Blocks of Keynesian Analysis
  163. 14.04: The Phillips Curve
  164. 14.05: The Keynesian Perspective on Market Forces
  165. 14.06: Key Terms
  166. 14.07: Key Concepts and Summary
  167. 14.08: Self-Check Questions
  168. 14.09: Review Questions
  169. 14.10: Critical Thinking Questions
  170. 15: The Neoclassical Perspective
  171. 15.01: Introduction to the Neoclassical Perspective
  172. 15.02: The Building Blocks of Neoclassical Analysis
  173. 15.03: The Policy Implications of the Neoclassical Perspective
  174. 15.04: Balancing Keynesian and Neoclassical Models
  175. 15.05: Key Terms
  176. 15.06: Key Concepts and Summary
  177. 15.07: Self-Check Questions
  178. 15.08: Review Questions
  179. 15.09: Critical Thinking Questions
  180. 15.10: Problems
  181. 16: Business Cycle
  182. 16.01: Economic Activity
  183. 16.02: Failure of the Classical Theory
  184. 16.03: Business Cycle Stages
  185. 16.04: Measuring The Business Cycle
  186. 16.05: Leading Coincident and Lagging Economic Indicators
  187. 16.06: The Economy is in Recession What to do
  188. 17: Government Budgets and Fiscal Policy
  189. 17.01: Introduction to Government Budgets and Fiscal Policy
  190. 17.02: Government Spending
  191. 17.03: Taxation
  192. 17.04: Federal Deficits and the National Debt
  193. 17.05: Using Fiscal Policy to Fight Recession Unemployment and Inflation
  194. 17.06: Automatic Stabilizers
  195. 17.07: Practical Problems with Discretionary Fiscal Policy
  196. 17.08: The Question of a Balanced Budget
  197. 17.09: Key Terms
  198. 17.10: Key Concepts and Summary
  199. 17.11: Self-Check Questions
  200. 17.12: Review Questions
  201. 17.13: Critical Thinking Questions
  202. 17.14: Problems
  203. 18: International Trade
  204. 18.01: Introduction to International Trade
  205. 18.02: Absolute and Comparative Advantage
  206. 18.03: What Happens When a Country Has an Absolute Advantage in All Goods
  207. 18.04: Intra-industry Trade between Similar Economies
  208. 18.05: The Benefits of Reducing Barriers to International Trade
  209. 18.06: Key Terms
  210. 18.07: Key Concepts and Summary
  211. 18.08: Self-Check Questions
  212. 18.09: Review Questions
  213. 18.10: Critical Thinking Questions
  214. 18.11: Problems