Principles of Macroeconomics 2e covers the scope and sequence of most introductory …
Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition.
By the end of this section, you will be able to: Show …
By the end of this section, you will be able to:
Show the relationship between production costs and comparative advantage Identify situations of mutually beneficial trade Identify trade benefits by considering opportunity costs
By the end of this section, you will be able to: Explain …
By the end of this section, you will be able to:
Explain the aggregate supply curve and how it relates to real GDP and potential GDP Explain the aggregate demand curve and how it is influenced by price levels Interpret the aggregate demand/aggregate supply model Identify the point of equilibrium in the aggregate demand/aggregate supply model Define short run aggregate supply and long run aggregate supply
In this chapter, you will learn about: Macroeconomic Perspectives on Demand and …
In this chapter, you will learn about: Macroeconomic Perspectives on Demand and Supply Building a Model of Aggregate Demand and Aggregate Supply Shifts in Aggregate Supply Shifts in Aggregate Demand How the AD/AS Model Incorporates Growth, Unemployment, and Inflation Keynes’ Law and Say’s Law in the AD/AS Model
By the end of this section, you will be able to: Explain …
By the end of this section, you will be able to:
Explain merchandise trade balance, current account balance, and unilateral transfers Identify components of the U.S. current account balance Calculate the merchandise trade balance and current account balance using import and export data for a country
By the end of this section, you will be able to: Explain …
By the end of this section, you will be able to:
Explain real GDP, recessionary gaps, and inflationary gaps Recognize the Keynesian AD/AS model Identify the determining factors of both consumption expenditure and investment expenditure Analyze the factors that determine government spending and net exports
By the end of this section, you will be able to:Contrast traditional …
By the end of this section, you will be able to:Contrast traditional economies, command economies, and market economiesExplain gross domestic product (GDP)Assess the importance and effects of globalization
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