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An Introduction to Economics and the Economy 1 The Nature and Method of Economics
The Economizing Problem
Demand and Supply
38 other sections not shown
aggregate demand aggregate supply allocation American economy amount ANSWER AND ESSAY billion business firms capital chapter commercial bank consumer consumption crease decrease demand curve deposits determine dollar economic growth economic profit economists effect efficiency employed equal equilibrium price equilibrium real GDP exchange rates Explain exports farm Federal Reserve FILL-IN QUESTIONS fiscal policy foreign full employment graph gross domestic product imports income increase indifference curve industry inelastic inflation interest rate Keynesian LDCs less long-run mand marginal cost marginal revenue marginal utility ment monetarists money supply monopolistic competition monopoly nations nomic nominal GDP oligopoly payments Phillips Curve price elasticity price level problem public debt purchase purely competitive quantity demanded QUESTIONS Circle rate of interest real domestic output real GDP real output reduce reserve ratio rise saving schedule short run supply curve surplus tariff tion trade TRUE-FALSE QUESTIONS union United wage rate workers