Principles of Macroeconomics
Bring the study of economics to life with Principles of Macroeconomics, 5th edition. Award-winning educator and author Fred Gottheil speaks directly to student experience through a conversational writing style and narrative that uses stories, familiar examples, engaging scenarios, and relevant examples from literature emphasizing that economic principles can be found in all aspects of modern life. The text focuses on the key questions and presents the basic concepts'developing economic analysis step-by-step. The result is a more interactive and enjoyable learning experience when compared to the pedantic approaches often found in texts. Each chapter in the fifth edition has been thoroughly revised to reflect the most relevant data and also emerging and critical issues such as the issues of Iraq, terrorism, Katrina, China, and more. We invite you to see for yourself how Fred Gottheil's approach will help to shorten the distance between students and the exciting study of economics.
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THE BASICS OF ECONOMIC ANALYSIS 1
EMPLOYMENT INFLATION AND FISCAL POLICY
AGGREGATE DEMAND AND 7 EQUILIBRIUM NATIONAL INCOME
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$80 billion absolute advantage acorn squash aggregate demand curve aggregate expenditure aggregate supply curve automobiles autonomous consumption bank billion budget business cycle capital capital deepening ceteris paribus circular flow classical economists comparative advantage compensation of employees consumer price index consumer sovereignty consumption curve consumption function consumption spending countercyclical create currency cyclical unemployment decrease deficit demand deposits deposits discouraged workers dollar earned economic growth economists economy economy's equation of exchange equi equilibrium level equilibrium price EUROS example exchange rate Exhibit exports factors of production fall FDIC federal funds rate Federal Reserve Federal Reserve System firms fiscal policy fish foreign foreign exchange market free trade frictional unemployment full employment GDP deflator government spending graph gross domestic product Gross national product guide dogs higher households hyperinflation income hypothesis income multiplier income tax increase inflation inflationary gap intended investment interest rate It's Jack Russell terrier John Maynard Keynes John Steinbeck Keynesian Keynesian economics Kim Deal labor less Let's level of national Life-cycle hypothesis loan Look macroeconomics marginal propensity monetarist money multiplier money supply NAIRU national income nomic nominal GDP normative economics OPEC open market operations opportunity cost panel paradox of thrift payments per capita income percent permanent income hypothesis Personal consumption expenditures Phillips curve price level produce production possibilities curve propensity to consume quantity demanded quantity supplied rate of unemployment real business cycle real GDP recessionary gap reserve requirement Robinson Crusoe saving shift Simon Kuznets store of value structural unemployment sumers sumption suppliers supply and demand supply-side economics Suppose That's trade transfer payments U.S. dollars underground economy United velocity of money wage Wayne Coyne Wealth of Nations workers yaps