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The Economic Way of Thinking
The Scope of Economics
Scarcity and Production Possibilities
107 other sections not shown
aggregate demand aggregate supply assets average total cost banks behavior benefits billion buyers capital Chapter competitive market consumers consumption currency decrease deficit demand curve demand for money deposits dollar earn economic economists effect efficient elasticity equal equilibrium exchange rate expected exports fall Federal Reserve Figure firm's firms fiscal foreign growth higher imports increase individual industry interest rates Keynesian labor less loans long-run lower macroeconomic marginal cost marginal revenue ment monetarist monetary policy money stock monopolist monopoly national income level national product nomic output level payments percent perfect competition Phillips curve planned investment planned saving price level production possibilities curve profits purchase rate of inflation rational expectations reduce regulation rise sell shift short-run slope social spending sumers supply and demand supply curve supply-side tariffs tax rates textiles theory tion trade unemployment United wage rate workers