Principles of Economics, Volume 1
His most recent book--"Principles of Economics"--is the most talked about economics text of our time and will likely teach the next generations of undergrads the laws of supply and demand. We're sure his columns for "Fortune" will be as informative and elegant.
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aggregate demand aggregate-demand curve aggregate-supply curve amount average total cost bank benefits Chapter consider consumer surplus consumption countries curve shifts deadweight loss demand curve dollar domestic earn economists economy's effect efficiency elasticity of demand equals equilibrium price example exchange rate Explain exports falls Figure foreign investment graph growth higher ice cream Ice-Cream Cone important income increase indifference curves interest rate Isoland Isolandian labor less loanable funds long-run marginal cost measure monetary money supply monopolist monopoly opportunity cost panel percent Phillips curve pizza policymakers potatoes price elasticity price level producer surplus production possibilities frontier profit quantity demanded quantity of money quantity supplied QUICK QUIZ raise reduce rises saving sell short-run shows slope spending steel supply and demand supply curve Suppose tax rates tax revenue theory tion total revenue total surplus trade tradeoff U.S. economy unemployment United variables wage workers world price