Survey of Economics (6TH)

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Survey of Economics (6TH)

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  • 製本 Paperback:紙装版/ペーパーバック版/ページ数 532 p.
  • 言語 ENG
  • 商品コード 9780324579611
  • DDC分類 330

Table of Contents

About the Author                                   iii
Preface xvii
PART 1: Introduction to Economics 1 (41)
Introducing the Economic Way of Thinking 2 (24)
The Problem of Scarcity 3 (1)
Scarce Resources and Production 3 (2)
Economics: The Study of Scarcity and 5 (1)
Choice
The Methodology of Economics 5 (2)
Checkpoint: Can You Prove There Is No 7 (1)
Trillion-Dollar Person?
Hazards of the Economic Way of Thinking 7 (1)
Checkpoint: Should Nebraska State join a 8 (1)
Big-Time Athletic Conference?
Economics in Practice: Mops and Brooms, 9 (1)
the Boston Snow Index, the Super Bowl,
and other Economic Indicators
Why Do Economists Disagree? 9 (2)
Economics in Practice: Does Raising the 11 (1)
Minimum Wage Help the Working Poor?
Careers in Economics 12 (2)
Key Concepts 14 (1)
Summary 14 (1)
Study Questions and Problems 14 (1)
Checkpoint Answers 15 (1)
Practice Quiz 16 (1)
Appendix 1. Applying Graphs to Economics 17 (1)
A Direct Relationship 17 (1)
An Inverse Relationship 18 (2)
The Slope of a Straight Line 20 (1)
A Three-Variable Relationship in One Graph 20 (2)
A Helpful Study Hint for Using Graphs 22 (1)
Key Concepts 23 (1)
Summary 23 (1)
Study Questions and Problems 24 (1)
Practice Quiz 24 (2)
Production Possibilities, Opportunity Cost, 26 (16)
and Economic Growth
Three Fundamental Economic Questions 27 (1)
Opportunity Cost 27 (1)
Marginal Analysis 28 (1)
The Production Possibilities Curve 29 (2)
The Law of Increasing Opportunity Costs 31 (1)
Sources of Economic Growth 32 (3)
Economics in Practice: FedEx Wasn't an 35 (1)
Overnight Success
Checkpoint: What Does a War on Terrorism 35 (1)
Really Mean?
Present Investment and the Future 35 (1)
Production Possibilities Curve
International Economics: When Japan 36 (2)
Stumbles, Where Is It on the Curve?
Key Concepts 38 (1)
Summary 38 (1)
Study Questions and Problems 39 (1)
Checkpoint Answer 40 (1)
Practice Quiz 41 (1)
PART 2: The Microeconomy 42 (175)
Market Demand and Supply 44 (26)
The Law of Demand 45 (2)
The Distinction Between Changes in 47 (1)
Quantity Demanded and Changes in Demand
Nonprice Determinants of Demand 48 (4)
Checkpoint: Can Gasoline Become an 52 (1)
Exception to the Law of Demand?
The Law of Supply 52 (2)
Checkpoint: Can the Law of Supply Be 54 (1)
Repealed?
The Distinction Between Changes in 54 (1)
Quantity Supplied and Changes in Supply
Nonprice Determinants of Supply 55 (3)
Economics in Practice: PC Prices: How Low 58 (1)
Can They Go?
A Market Supply and Demand Analysis 59 (4)
International Economics: The Market 63 (1)
Approach to Organ Shortages
Checkpoint: Can the Price System 64 (1)
Eliminate Scarcity?
Key Concepts 65 (1)
Summary 65 (1)
Study Questions and Problems 66 (1)
Checkpoint Answers 67 (1)
Practice Quiz 68 (2)
Markets in Action 70 (24)
Changes in Market Equilibrium 71 (1)
Checkpoint: Why the Higher Price for 72 (1)
Lower Cholesterol?
Can the Laws of Supply and Demand Be 73 (2)
Repealed?
Economics in practice: Who Turned Out the 75 (4)
Lights in California?
Economics in practice: Rigging the Market 79 (1)
for Milk
Checkpoint: Is There Price Fixing at the 80 (1)
Ticket Window?
Market Failure 80 (5)
Economics in practice: Can Vouchers Fix 85 (1)
Our Schools?
Checkpoint: Should There Be a War on 86 (1)
Drugs?
Key Concepts 87 (1)
Summary 87 (1)
Study Questions and Problems 88 (1)
Checkpoint Answers 89 (1)
Practice Quiz 90 (1)
Appendix 4. Applying Supply and Demand 91 (1)
Analysis to Health Care
The Impact of Health Insurance 91 (1)
Shifts in the Demand for Health Care 92 (1)
Shifts in the Supply of Health Care 93 (1)
Price Elasticity of Demand 94 (14)
Price Elasticity of Demand 95 (4)
Price Elasticity of Demand Variations 99 (2)
along a Demand Curve
Checkpoint: Will Fliers Flock to Low 101 (1)
Summer Fares?
Determinants of Price Elasticity of Demand 102 (1)
Economics in Practice: Cigarette Smoking 103 (1)
Price Elasticity of Demand
Checkpoint: Can Trade Sanctions Affect 103 (2)
Elasticity of Demand for Cars?
Key Concepts 105 (1)
Summary 105 (1)
Study Questions and Problems 106 (1)
Checkpoint Answers 106 (1)
Practice Quiz 107 (1)
Production Costs 108 (19)
Costs and Profit 109 (1)
Checkpoint: Should the Professor Go or 110 (1)
Stay?
Short-Run Production Costs 111 (2)
Short-Run Cost Formulas 113 (3)
Long-Run Production Costs 116 (2)
Different Scales of Production 118 (2)
Economics in Practice: Invasion of the 120 (2)
Monster Movie Theaters
Key Concepts 122 (1)
Summary 122 (1)
Study Questions and Problems 123 (2)
Checkpoint Answer 125 (1)
Practice Quiz 125 (2)
Perfect Competition 127 (20)
Perfect Competition 128 (2)
Short-Run Profit Maximization for a 130 (4)
Perfectly Competitive Firm
Short-Run Loss Minimization for a 134 (1)
Perfectly Competitive Firm
Checkpoint: Should Motels Offer Rooms at 134 (1)
the Beach for Only $50 a Night?
Short-Run Supply Curves Under Perfect 134 (4)
Competition
Long-Run Supply Curves Under Perfect 138 (2)
Competition
Checkpoint: Are You in Business for the 140 (1)
Long Run?
Economics in Practice: Gators Snapping Up 141 (1)
Profits
Key Concepts 142 (1)
Summary 142 (1)
Study Questions and Problems 143 (1)
Checkpoint Answers 144 (1)
Practice Quiz 145 (2)
Monopoly 147 (24)
The Monopoly Market Structure 148 (1)
International Economics: Monopolies 149 (2)
Around the World
Price and Output Decisions for a 151 (7)
Monopolist
Economics in Practice: The Standard Oil 158 (1)
Monopoly
Price Discrimination 158 (2)
Checkpoint: Why Don't Adults Pay More for 160 (1)
Popcorn at the Movies?
Comparing Monopoly and Perfect Competition 160 (2)
The Case Against and for Monopoly 162 (2)
Economics in Practice: New York Taxicabs: 164 (1)
Where Have All the Fare Flags Gone?
Key Concepts 165 (1)
Summary 165 (2)
Study Questions and Problems 167 (2)
Checkpoint Answer 169 (1)
Practice Quiz 169 (2)
Monopolistic Competition and Oligopoly 171 (19)
The Monopolistic Competition Market 172 (1)
Structure
Price and Output Decisions for a 173 (2)
Monopolistically Competitive Firm
Economics in Practice: The Advertising 175 (1)
Came
Comparing Monopolistic Competition and 175 (3)
Perfect Competition
The Oligopoly Market Structure 178 (1)
Price and Output Decisions for an 178 (3)
Oligopolist
International Economics: Major Cartels in 181 (1)
Global Markets
An Evaluation of Oligopoly 182 (1)
Economics in Practice: An Economist Goes 183 (1)
to the Final Four
Checkpoint: Which Model Fits the Cereal 183 (1)
Aisle?
Review of the Four Market Structures 184 (1)
Key Concepts 185 (1)
Summary 185 (1)
Study Questions and Problems 186 (1)
Checkpoint Answer 187 (1)
Practice Quiz 187 (3)
Labor Markets and Income Distribution 190 (27)
The Labor Market Under Perfect Competition 191 (4)
Labor Unions: Employer Power 195 (3)
Union Membership Around the World 198 (2)
The Distribution of Income 200 (1)
Equality Versus Efficiency 201 (1)
Poverty 202 (3)
Antipoverty Programs 205 (2)
Discrimination 207 (1)
Economics in Practice: Pulling on the 208 (2)
Strings of the Welfare Safety Net
Economics in Practice: Is a Librarian 210 (1)
Worth the Same Wage as an Electrician?
Checkpoint: Should the Law Protect Women? 211 (1)
Key Concepts 212 (1)
Summary 212 (1)
Study Questions and Problems 213 (1)
Checkpoint Answer 213 (1)
Practice Quiz 214 (3)
PART 3: The Macroeconomy and Fiscal Policy 217 (154)
Cross Domestic Product 218 (19)
Gross Domestic Product 219 (1)
Measuring GDP 220 (4)
Checkpoint: How Much Does Mario Add to 224 (1)
GDP?
GDP in Other Countries 224 (1)
GDP Shortcomings 224 (2)
Other National Income Accounts 226 (1)
Economics in Practice: Is GDP a False 227 (3)
Beacon Steering us into the Rocks?
Changing Nominal GDP to Real GDP 230 (2)
Checkpoint: Is the Economy Up or Down? 232 (1)
Key Concepts 233 (1)
Summary 233 (1)
Study Questions and Problems 234 (1)
Checkpoint Answers 235 (1)
Practice Quiz 235 (2)
Business Cycles and Unemployment 237 (22)
The Business-Cycle Roller Coaster 238 (2)
Checkpoint: Where Are We on the 240 (3)
Business-Cycle Roller Coaster?
Total Spending and the Business Cycle 243 (1)
Economics in Practice: Does a Stock 244 (1)
Market Crash Cause Recession?
Unemployment 245 (2)
Types of Unemployment 247 (2)
Economics in Practice: Is It a Robot's 249 (2)
World?
The Goal of Full Employment 251 (1)
Checkpoint: What Kind of Unemployment Did 251 (4)
the Invention of the Wheel Cause?
Key Concepts 255 (1)
Summary 255 (1)
Study Questions and Problems 256 (1)
Checkpoint Answers 256 (1)
Practice Quiz 257 (2)
Inflation 259 (18)
Meaning and Measurement of Inflation 260 (3)
Checkpoint: The College Education Price 263 (1)
Index
Economics in Practice: How Much More Does 264 (3)
It Cost to Laugh?
Consequences of Inflation 267 (2)
Demand-Pull and Cost-Push Inflation 269 (1)
International economics: When the 270 (1)
Inflation Rate Is 116,000 Percent, Prices
Change by the Hour
Inflation in Other Countries 271 (3)
Key Concepts 274 (1)
Summary 274 (1)
Study Questions and Problems 274 (1)
Checkpoint Answer 275 (1)
Practice Quiz 275 (2)
Aggregate Demand and Supply 277 (35)
The Aggregate Demand Curve 278 (1)
Reasons for the Aggregate Demand Curve's 279 (1)
Shape
Nonprice-Level Determinants of Aggregate 280 (1)
Demand
The Aggregate Supply Curve 281 (4)
Three Ranges of the Aggregate Supply Curve 285 (2)
Changes in the AD-AS Macroeconomic 287 (2)
Equilibrium
Nonprice-Level Determinants of Aggregate 289 (2)
Supply
Cost-Push and Demand-Pull Inflation 291 (2)
Revisited
Economics in Practice: Was John Maynard 293 (1)
Keynes Right?
Increase in Both Aggregate Demand and 294 (1)
Aggregate Supply Curves
Checkpoint: Would the Greenhouse Effect 294 (2)
Cause Inflation, Unemployment, or Both?
Key Concepts 296 (1)
Summary 296 (1)
Study Questions and Problems 297 (1)
Checkpoint Answer 298 (1)
Practice Quiz 298 (2)
Appendix 14. The Self-Correcting 300 (1)
Aggregate Demand and Supply Model
Why the Short-Run Aggregate Supply Curve 300 (1)
Is Upward Sloping
Why the Long-Run Aggregate Supply Curve 301 (1)
Is Vertical
Equilibrium in the Self-Correcting AD-AS 302 (1)
Model
The Impact of an Increase in Aggregate 302 (3)
Demand
The Impact of a Decrease in Aggregate 305 (1)
Demand
Changes in Potential Real GDP 306 (1)
Increase in the Aggregate Demand and 307 (2)
Long-Run Aggregate Supply Curves
Key Concepts 309 (1)
Summary 309 (1)
Study Questions and Problems 309 (1)
Practice Quiz 310 (2)
Fiscal Policy 312 (18)
Discretionary Fiscal Policy 313 (6)
Checkpoint: Walking the Balanced Budget 319 (1)
Tightrope
Automatic Stabilizers 319 (2)
Supply-Side Fiscal Policy 321 (2)
Economics in Practice: The Laffer Curve 323 (3)
Key Concepts 326 (1)
Summary 326 (1)
Study Questions and Problems 327 (1)
Checkpoint Answer 328 (1)
Practice Quiz 328 (2)
The Public Sector 330 (21)
Government Size and Growth 331 (3)
Financing Government Budgets 334 (2)
The Art of Taxation 336 (6)
Economics in Practice: Is It Time to 342 (1)
Trash the 1040s?
Public Choice Theory 343 (3)
Checkpoint: What Does Public Choice Say 346 (1)
about a Budget Deficit?
Key Concepts 347 (1)
Summary 347 (1)
Study Questions and Problems 348 (1)
Checkpoint Answer 349 (1)
Practice Quiz 349 (2)
Federal Deficits, Surpluses, and the 351 (20)
National Debt
The Federal Budget Balancing Act 352 (4)
Why Worry Over the National Debt? 356 (3)
Economics in Practice: The Great Federal 359 (1)
Budget Surplus Debate
Checkpoint: What's Behind the National 360 (5)
Debt?
Economics in Practice: How Real Is Uncle 365 (2)
Sam's Debt?
Key Concepts 367 (1)
Summary 367 (1)
Study Questions and Problems 368 (1)
Checkpoint Answer 369 (1)
Practice Quiz 369 (2)
PART 4: Money, Banking, and Monetary Policy 371 (64)
Money and the Federal Reserve System 372 (17)
What Makes Money Money? 373 (2)
International Economics: Fixed Assets, 375 (1)
or: Why a Loan in Yap Is Hard to Roll Over
Checkpoint: Are Debit Cards Money? 375 (1)
Other Desirable Properties of Money 375 (1)
What Stands Behind Our Money? 376 (1)
The Three Money Supply Definitions 376 (2)
History of Money in the Colonies 378 (1)
The Federal Reserve System 379 (3)
What a Federal Reserve Bank Does 382 (1)
The U.S. Banking Revolution 383 (1)
Economics in Practice: The Wreck of 384 (2)
Lincoln Savings and Loan
Key Concepts 386 (1)
Summary 386 (1)
Study Questions and Problems 387 (1)
Checkpoint Answer 387 (1)
Practice Quiz 388 (1)
Money Creation 389 (19)
Money Creation Begins 390 (1)
How a Single Bank Creates Money 390 (4)
Multiplier Expansion of Money by the 394 (2)
Banking System
How Monetary Policy Creates Money 396 (3)
Checkpoint: Who Has More Dollar Creation 399 (1)
Power?
Economics in Practice: How Does the FOMC 400 (2)
Really Work?
Monetary Policy Shortcomings 402 (2)
Key Concepts 404 (1)
Summary 404 (1)
Study Questions and Problems 405 (1)
Checkpoint Answer 405 (1)
Practice Quiz 406 (2)
Monetary Policy 408 (27)
The Keynesian View of the Role of Money 409 (5)
Checkpoint: What Does the Money Supply 414 (1)
Look Like When the Fed Targets an
Interest Rate?
The Monetarist View of the Role of Money 415 (5)
Checkpoint: A Horse of Which Color? 420 (2)
Economics in Practice: Monetary Policy 422 (3)
during the Great Depression
Key Concepts 425 (1)
Summary 425 (1)
Study Questions and Problems 426 (1)
Checkpoint Answers 427 (1)
Practice Quiz 427 (2)
Appendix 20. Policy Disputes Using the 429 (1)
Self-Correcting Aggregate Demand and
Supply Model
The Classical versus Keynesian Views of 429 (1)
Expansionary Policy
Classical versus Keynesian Views of 430 (2)
Contractionary Policy
Summary 432 (1)
Practice Quiz 432 (3)
PART 5: The International Economy 435 (67)
International Trade and Finance 436 (29)
Why Nations Need Trade 437 (3)
Comparative and Absolute Advantage 440 (1)
Checkpoint: Do Nations with an Advantage 441 (1)
Always Trade?
Free Trade Versus Protectionism 441 (2)
Arguments for Protection 443 (1)
International Economics: World Trade 444 (1)
Slips on Banana Peel
Free Trade Agreements 445 (1)
The Balance of Payments 446 (2)
Birth of the Euro 448 (2)
Checkpoint: Should Everyone Keep a 450 (1)
Balance of Payments?
Exchange Rates 450 (4)
International Economics: Return to the 454 (6)
Gold Standard?
Key Concepts 460 (1)
Summary 460 (1)
Study Questions and Problems 461 (1)
Checkpoint Answers 462 (1)
Practice Quiz 463 (2)
Economies in Transition 465 (18)
Basic Types of Economic Systems 466 (5)
International Economics: Choosing an 471 (1)
Economic System on Another Planet
The ``ISMS'' 472 (3)
Checkpoint: To Plan or Not to Plan---That 475 (1)
Is the Question
Comparing Economic Systems 476 (1)
Economies in Transition 476 (2)
International Economics: China's Quest 478 (2)
for Free Market Reform
Key Concepts 480 (1)
Summary 480 (1)
Study Questions and Problems 480 (1)
Checkpoint Answer 481 (1)
Practice Quiz 481 (2)
Growth and the Less-Developed Countries 483 (19)
Comparing Developed and Less-Developed 484 (3)
Countries
Economic Growth and Development around 487 (3)
the World
Checkpoint: Does Rapid Growth Mean a 490 (2)
Country is Catching Up?
International Economics: Hong Kong: A 492 (2)
Leaping Pacific Rim Tiger
The Helping Hand of Advanced Countries 494 (3)
Checkpoint: Is the Minimum Wage an 497 (1)
Antipoverty Solution for Poor Countries?
Key Concepts 498 (1)
Summary 498 (1)
Study Questions and Problems 498 (1)
Checkpoint Answers 499 (1)
Practice Quiz 500 (2)
Appendix A: Answers to Odd-Numbered Study 502 (13)
Questions and Problems
Appendix B: Answers to Practice Quizzes 515 (2)
Glossary 517 (8)
Index 525