- Page 1 and 2: The MACRO Economy Today Fourteenth
- Page 3 and 4: EASY TO USE Learning Management Sys
- Page 5 and 6: The McGraw-Hill Series Economics Es
- Page 7 and 8: THE MACRO ECONOMY TODAY, FOURTEENTH
- Page 9 and 10: PREFACE The Great Recession of 2008
- Page 11 and 12: x PREFACE government failure: Gover
- Page 13 and 14: xii PREFACE opinion about the role
- Page 15 and 16: xiv PREFACE FIGURE 3.3 Shifts vs. M
- Page 17 and 18: xvi PREFACE Readability Student Pro
- Page 19 and 20: xviii PREFACE Instructor Library. T
- Page 21 and 22: xx PREFACE ment within the purview
- Page 24 and 25: CONTENTS IN BRIEF PREFACE viii PART
- Page 26 and 27: C O N T E N T S PREFACE viii CHAPTE
- Page 28 and 29: CONTENTS xxvii CHAPTER 10: SELF-ADJ
- Page 30: CONTENTS xxix Meat Imports “Threa
- Page 35 and 36: Economics: The Core Issues LEARNING
- Page 37 and 38: 4 THE ECONOMIC CHALLENGE © Dana Fr
- Page 39 and 40: 6 THE ECONOMIC CHALLENGE whether to
- Page 41 and 42: 8 THE ECONOMIC CHALLENGE (trucks) b
- Page 43 and 44: 10 THE ECONOMIC CHALLENGE WORLD VIE
- Page 45 and 46: 12 THE ECONOMIC CHALLENGE FIGURE 1.
- Page 47 and 48: 14 THE ECONOMIC CHALLENGE market me
- Page 49 and 50: 16 THE ECONOMIC CHALLENGE WORLD VIE
- Page 51 and 52: 18 THE ECONOMIC CHALLENGE governmen
- Page 53 and 54: 20 THE ECONOMIC CHALLENGE In view o
- Page 55 and 56: 22 THE ECONOMIC CHALLENGE APPENDIX
- Page 57 and 58: 24 THE ECONOMIC CHALLENGE FIGURE A.
- Page 59 and 60: 26 THE ECONOMIC CHALLENGE and grade
- Page 61 and 62: PROBLEMS FOR CHAPTER 1 (cont’d) N
- Page 63 and 64: The U.S. Economy: A Global View LEA
- Page 65 and 66: 32 THE ECONOMIC CHALLENGE per capit
- Page 67 and 68: 34 THE ECONOMIC CHALLENGE TABLE 2.1
- Page 69 and 70: 36 THE ECONOMIC CHALLENGE Analysis:
- Page 71 and 72: 38 THE ECONOMIC CHALLENGE externali
- Page 73 and 74: 40 THE ECONOMIC CHALLENGE Analysis:
- Page 75 and 76: 42 THE ECONOMIC CHALLENGE • U.S.
- Page 77 and 78: PROBLEMS FOR CHAPTER 2 (cont’d) N
- Page 79 and 80: 46 THE ECONOMIC CHALLENGE MARKET PA
- Page 81 and 82:
48 THE ECONOMIC CHALLENGE opportuni
- Page 83 and 84:
50 THE ECONOMIC CHALLENGE FIGURE 3.
- Page 85 and 86:
52 THE ECONOMIC CHALLENGE Expectati
- Page 87 and 88:
54 THE ECONOMIC CHALLENGE market de
- Page 89 and 90:
56 THE ECONOMIC CHALLENGE else. Sof
- Page 91 and 92:
58 THE ECONOMIC CHALLENGE None of t
- Page 93 and 94:
60 THE ECONOMIC CHALLENGE assistanc
- Page 95 and 96:
62 THE ECONOMIC CHALLENGE A Demand
- Page 97 and 98:
64 THE ECONOMIC CHALLENGE HOW The m
- Page 99 and 100:
66 THE ECONOMIC CHALLENGE the price
- Page 101 and 102:
PROBLEMS FOR CHAPTER 3 Name: LO3-1
- Page 103 and 104:
The Role of Government LEARNING OBJ
- Page 105 and 106:
72 THE ECONOMIC CHALLENGE private g
- Page 107 and 108:
74 THE ECONOMIC CHALLENGE PRIVATE G
- Page 109 and 110:
76 THE ECONOMIC CHALLENGE The well-
- Page 111 and 112:
78 THE ECONOMIC CHALLENGE transfer
- Page 113 and 114:
80 THE ECONOMIC CHALLENGE WHAT ques
- Page 115 and 116:
82 THE ECONOMIC CHALLENGE “I can
- Page 117 and 118:
84 THE ECONOMIC CHALLENGE IN THE NE
- Page 119 and 120:
86 THE ECONOMIC CHALLENGE Even if t
- Page 121 and 122:
PROBLEMS FOR CHAPTER 4 Name: LO4-1
- Page 123 and 124:
PROBLEMS FOR CHAPTER 4 (cont’d) N
- Page 125 and 126:
National Income Accounting LEARNING
- Page 127 and 128:
94 MEASURING MACRO OUTCOMES we can
- Page 129 and 130:
96 MEASURING MACRO OUTCOMES example
- Page 131 and 132:
98 MEASURING MACRO OUTCOMES nominal
- Page 133 and 134:
100 MEASURING MACRO OUTCOMES FIGURE
- Page 135 and 136:
102 MEASURING MACRO OUTCOMES resour
- Page 137 and 138:
104 MEASURING MACRO OUTCOMES After
- Page 139 and 140:
106 MEASURING MACRO OUTCOMES FIGURE
- Page 141 and 142:
108 MEASURING MACRO OUTCOMES Intang
- Page 143 and 144:
110 MEASURING MACRO OUTCOMES • To
- Page 145 and 146:
PROBLEMS FOR CHAPTER 5 (cont’d) N
- Page 147 and 148:
114 MEASURING MACRO OUTCOMES labor
- Page 149 and 150:
116 MEASURING MACRO OUTCOMES MEASUR
- Page 151 and 152:
118 MEASURING MACRO OUTCOMES © Leo
- Page 153 and 154:
120 MEASURING MACRO OUTCOMES unders
- Page 155 and 156:
122 MEASURING MACRO OUTCOMES worker
- Page 157 and 158:
124 MEASURING MACRO OUTCOMES full e
- Page 159 and 160:
126 MEASURING MACRO OUTCOMES Produc
- Page 161 and 162:
PROBLEMS FOR CHAPTER 6 Name: LO6-1
- Page 163 and 164:
Inflation LEARNING OBJECTIVES CHAPT
- Page 165 and 166:
132 MEASURING MACRO OUTCOMES TABLE
- Page 167 and 168:
134 MEASURING MACRO OUTCOMES TABLE
- Page 169 and 170:
136 MEASURING MACRO OUTCOMES just l
- Page 171 and 172:
138 MEASURING MACRO OUTCOMES hyperi
- Page 173 and 174:
140 MEASURING MACRO OUTCOMES TABLE
- Page 175 and 176:
142 MEASURING MACRO OUTCOMES Qualit
- Page 177 and 178:
144 MEASURING MACRO OUTCOMES of inf
- Page 179 and 180:
146 MEASURING MACRO OUTCOMES inflat
- Page 181 and 182:
PROBLEMS FOR CHAPTER 7 Name: LO7-1
- Page 184 and 185:
Cyclical Instability 3PART One of t
- Page 186 and 187:
CHAPTER 8: THE BUSINESS CYCLE 153 I
- Page 188 and 189:
CHAPTER 8: THE BUSINESS CYCLE 155 A
- Page 190 and 191:
CHAPTER 8: THE BUSINESS CYCLE 157 O
- Page 192 and 193:
CHAPTER 8: THE BUSINESS CYCLE 159 R
- Page 194 and 195:
CHAPTER 8: THE BUSINESS CYCLE 161 D
- Page 196 and 197:
CHAPTER 8: THE BUSINESS CYCLE 163 r
- Page 198 and 199:
CHAPTER 8: THE BUSINESS CYCLE 165 P
- Page 200 and 201:
CHAPTER 8: THE BUSINESS CYCLE 167 U
- Page 202 and 203:
CHAPTER 8: THE BUSINESS CYCLE 169 (
- Page 204 and 205:
CHAPTER 8: THE BUSINESS CYCLE 171 M
- Page 206 and 207:
CHAPTER 8: THE BUSINESS CYCLE 173 d
- Page 208 and 209:
PROBLEMS FOR CHAPTER 8 (cont’d) N
- Page 210 and 211:
CHAPTER 9: AGGREGATE DEMAND 177 MAC
- Page 212 and 213:
CHAPTER 9: AGGREGATE DEMAND 179 thi
- Page 214 and 215:
CHAPTER 9: AGGREGATE DEMAND 181 MPC
- Page 216 and 217:
CHAPTER 9: AGGREGATE DEMAND 183 con
- Page 218 and 219:
CHAPTER 9: AGGREGATE DEMAND 185 con
- Page 220 and 221:
CHAPTER 9: AGGREGATE DEMAND 187 IN
- Page 222 and 223:
CHAPTER 9: AGGREGATE DEMAND 189 WOR
- Page 224 and 225:
CHAPTER 9: AGGREGATE DEMAND 191 Net
- Page 226 and 227:
CHAPTER 9: AGGREGATE DEMAND 193 pla
- Page 228 and 229:
CHAPTER 9: AGGREGATE DEMAND 195 dep
- Page 230 and 231:
CHAPTER 9: AGGREGATE DEMAND 197 Key
- Page 232 and 233:
CHAPTER 9: AGGREGATE DEMAND 199 The
- Page 234 and 235:
CHAPTER 9: AGGREGATE DEMAND 201 $3,
- Page 236 and 237:
PROBLEMS FOR CHAPTER 9 Name: LO9-2
- Page 238 and 239:
PROBLEMS FOR CHAPTER 9 (cont’d) N
- Page 240 and 241:
CHAPTER 10: SELF-ADJUSTMENT OR INST
- Page 242 and 243:
CHAPTER 10: SELF-ADJUSTMENT OR INST
- Page 244 and 245:
CHAPTER 10: SELF-ADJUSTMENT OR INST
- Page 246 and 247:
CHAPTER 10: SELF-ADJUSTMENT OR INST
- Page 248 and 249:
CHAPTER 10: SELF-ADJUSTMENT OR INST
- Page 250 and 251:
CHAPTER 10: SELF-ADJUSTMENT OR INST
- Page 252 and 253:
CHAPTER 10: SELF-ADJUSTMENT OR INST
- Page 254 and 255:
CHAPTER 10: SELF-ADJUSTMENT OR INST
- Page 256 and 257:
CHAPTER 10: SELF-ADJUSTMENT OR INST
- Page 258:
PROBLEMS FOR CHAPTER 10 (cont’d)
- Page 261 and 262:
Fiscal Policy CHAPTER 11 LEARNING O
- Page 263 and 264:
230 FISCAL POLICY TOOLS D t i t O t
- Page 265 and 266:
232 FISCAL POLICY TOOLS to increase
- Page 267 and 268:
234 FISCAL POLICY TOOLS Multiplier
- Page 269 and 270:
236 FISCAL POLICY TOOLS In this cas
- Page 271 and 272:
238 FISCAL POLICY TOOLS TABLE 11.1
- Page 273 and 274:
240 FISCAL POLICY TOOLS fiscal rest
- Page 275 and 276:
242 FISCAL POLICY TOOLS The margina
- Page 277 and 278:
244 FISCAL POLICY TOOLS TABLE 11.3
- Page 279 and 280:
246 FISCAL POLICY TOOLS GDP share (
- Page 281 and 282:
PROBLEMS FOR CHAPTER 11 Name: LO11-
- Page 283 and 284:
Deficits and Debt LEARNING OBJECTIV
- Page 285 and 286:
252 FISCAL POLICY TOOLS FIGURE 12.1
- Page 287 and 288:
254 FISCAL POLICY TOOLS fiscal year
- Page 289 and 290:
256 FISCAL POLICY TOOLS Fiscal Year
- Page 291 and 292:
258 FISCAL POLICY TOOLS IN THE NEWS
- Page 293 and 294:
260 FISCAL POLICY TOOLS Interest Ra
- Page 295 and 296:
262 FISCAL POLICY TOOLS debt was pa
- Page 297 and 298:
264 FISCAL POLICY TOOLS The Great R
- Page 299 and 300:
266 FISCAL POLICY TOOLS There are t
- Page 301 and 302:
268 FISCAL POLICY TOOLS Repayment.
- Page 303 and 304:
270 FISCAL POLICY TOOLS debt ceilin
- Page 305 and 306:
272 FISCAL POLICY TOOLS Questions f
- Page 307 and 308:
PROBLEMS FOR CHAPTER 12 (cont’d)
- Page 309 and 310:
Money and Banks LEARNING OBJECTIVES
- Page 311 and 312:
278 MONETARY POLICY OPTIONS THE MON
- Page 313 and 314:
280 MONETARY POLICY OPTIONS IN THE
- Page 315 and 316:
282 MONETARY POLICY OPTIONS deposit
- Page 317 and 318:
284 MONETARY POLICY OPTIONS held at
- Page 319 and 320:
286 MONETARY POLICY OPTIONS same ba
- Page 321 and 322:
288 MONETARY POLICY OPTIONS represe
- Page 323 and 324:
290 MONETARY POLICY OPTIONS FIGURE
- Page 325 and 326:
292 MONETARY POLICY OPTIONS identif
- Page 327 and 328:
PROBLEMS FOR CHAPTER 13 Name: LO13-
- Page 329 and 330:
The Federal Reserve System LEARNING
- Page 331 and 332:
298 MONETARY POLICY OPTIONS FIGURE
- Page 333 and 334:
300 MONETARY POLICY OPTIONS TABLE 1
- Page 335 and 336:
302 MONETARY POLICY OPTIONS fearful
- Page 337 and 338:
304 MONETARY POLICY OPTIONS bonds.
- Page 339 and 340:
306 MONETARY POLICY OPTIONS FIGURE
- Page 341 and 342:
308 MONETARY POLICY OPTIONS TABLE 1
- Page 343 and 344:
310 MONETARY POLICY OPTIONS finance
- Page 345 and 346:
312 MONETARY POLICY OPTIONS Questio
- Page 347 and 348:
PROBLEMS FOR CHAPTER 14 (cont’d)
- Page 349 and 350:
316 MONETARY POLICY OPTIONS monetar
- Page 351 and 352:
318 MONETARY POLICY OPTIONS reserve
- Page 353 and 354:
320 MONETARY POLICY OPTIONS INTERES
- Page 355 and 356:
322 MONETARY POLICY OPTIONS The ult
- Page 357 and 358:
324 MONETARY POLICY OPTIONS (a) A l
- Page 359 and 360:
326 MONETARY POLICY OPTIONS from fo
- Page 361 and 362:
328 MONETARY POLICY OPTIONS The Dro
- Page 363 and 364:
330 MONETARY POLICY OPTIONS real in
- Page 365 and 366:
332 MONETARY POLICY OPTIONS Income
- Page 367 and 368:
334 MONETARY POLICY OPTIONS Do Chan
- Page 369 and 370:
336 MONETARY POLICY OPTIONS inflati
- Page 371 and 372:
338 MONETARY POLICY OPTIONS 8. Why
- Page 373 and 374:
PROBLEMS FOR CHAPTER 15 (cont’d)
- Page 375 and 376:
Supply-Side Policy: Short-Run Optio
- Page 377 and 378:
344 SUPPLY-SIDE OPTIONS FIGURE 16.1
- Page 379 and 380:
346 SUPPLY-SIDE OPTIONS (a) Increas
- Page 381 and 382:
348 SUPPLY-SIDE OPTIONS FIGURE 16.6
- Page 383 and 384:
350 SUPPLY-SIDE OPTIONS The Septemb
- Page 385 and 386:
352 SUPPLY-SIDE OPTIONS Labor Suppl
- Page 387 and 388:
354 SUPPLY-SIDE OPTIONS Such a larg
- Page 389 and 390:
356 SUPPLY-SIDE OPTIONS labor produ
- Page 391 and 392:
358 SUPPLY-SIDE OPTIONS implied upw
- Page 393 and 394:
360 SUPPLY-SIDE OPTIONS web click F
- Page 395 and 396:
362 SUPPLY-SIDE OPTIONS (b) single
- Page 397 and 398:
PROBLEMS FOR CHAPTER 16 (cont’d)
- Page 399 and 400:
366 SUPPLY-SIDE OPTIONS THE NATURE
- Page 401 and 402:
368 SUPPLY-SIDE OPTIONS 8.0 7.0 6.0
- Page 403 and 404:
370 SUPPLY-SIDE OPTIONS TABLE 17.1
- Page 405 and 406:
372 SUPPLY-SIDE OPTIONS (Index, 199
- Page 407 and 408:
374 SUPPLY-SIDE OPTIONS technology
- Page 409 and 410:
376 SUPPLY-SIDE OPTIONS availabilit
- Page 411 and 412:
378 SUPPLY-SIDE OPTIONS adjustments
- Page 413 and 414:
380 SUPPLY-SIDE OPTIONS and Stanfor
- Page 415 and 416:
382 SUPPLY-SIDE OPTIONS SUMMARY •
- Page 417 and 418:
PROBLEMS FOR CHAPTER 17 (cont’d)
- Page 419 and 420:
Theory versus Reality LEARNING OBJE
- Page 421 and 422:
388 POLICY CONSTRAINTS TABLE 18.2 F
- Page 423 and 424:
390 POLICY CONSTRAINTS TABLE 18.4 S
- Page 425 and 426:
392 POLICY CONSTRAINTS velocity of
- Page 427 and 428:
394 POLICY CONSTRAINTS UNEMPLOYMENT
- Page 429 and 430:
396 POLICY CONSTRAINTS This goal co
- Page 431 and 432:
398 POLICY CONSTRAINTS The Council
- Page 433 and 434:
400 POLICY CONSTRAINTS Design Probl
- Page 435 and 436:
402 POLICY CONSTRAINTS SHOE—NEW B
- Page 437 and 438:
404 POLICY CONSTRAINTS policy as a
- Page 439 and 440:
406 POLICY CONSTRAINTS SUMMARY •
- Page 441 and 442:
PROBLEMS FOR CHAPTER 18 Name: LO18-
- Page 443 and 444:
International Trade LEARNING OBJECT
- Page 445 and 446:
412 INTERNATIONAL ECONOMICS exports
- Page 447 and 448:
414 INTERNATIONAL ECONOMICS MOTIVAT
- Page 449 and 450:
416 INTERNATIONAL ECONOMICS FIGURE
- Page 451 and 452:
418 INTERNATIONAL ECONOMICS All the
- Page 453 and 454:
420 INTERNATIONAL ECONOMICS web cli
- Page 455 and 456:
422 INTERNATIONAL ECONOMICS IN THE
- Page 457 and 458:
424 INTERNATIONAL ECONOMICS WORLD V
- Page 459 and 460:
426 INTERNATIONAL ECONOMICS WORLD V
- Page 461 and 462:
428 INTERNATIONAL ECONOMICS FIGURE
- Page 463 and 464:
430 INTERNATIONAL ECONOMICS All the
- Page 465 and 466:
432 INTERNATIONAL ECONOMICS The NAF
- Page 467 and 468:
PROBLEMS FOR CHAPTER 19 Name: LO19-
- Page 469 and 470:
International Finance LEARNING OBJE
- Page 471 and 472:
438 INTERNATIONAL ECONOMICS The Sup
- Page 473 and 474:
440 INTERNATIONAL ECONOMICS WORLD V
- Page 475 and 476:
442 INTERNATIONAL ECONOMICS (a) Dol
- Page 477 and 478:
444 INTERNATIONAL ECONOMICS foreign
- Page 479 and 480:
446 INTERNATIONAL ECONOMICS transfo
- Page 481 and 482:
448 INTERNATIONAL ECONOMICS FIGURE
- Page 483 and 484:
450 INTERNATIONAL ECONOMICS domesti
- Page 485 and 486:
452 INTERNATIONAL ECONOMICS currenc
- Page 487 and 488:
PROBLEMS FOR CHAPTER 20 Name: LO20-
- Page 489 and 490:
Global Poverty LEARNING OBJECTIVES
- Page 491 and 492:
458 INTERNATIONAL ECONOMICS America
- Page 493 and 494:
460 INTERNATIONAL ECONOMICS and poo
- Page 495 and 496:
462 INTERNATIONAL ECONOMICS direct
- Page 497 and 498:
464 INTERNATIONAL ECONOMICS nations
- Page 499 and 500:
466 INTERNATIONAL ECONOMICS The alr
- Page 501 and 502:
468 INTERNATIONAL ECONOMICS WORLD V
- Page 503 and 504:
470 INTERNATIONAL ECONOMICS Propert
- Page 505 and 506:
472 INTERNATIONAL ECONOMICS FIGURE
- Page 507 and 508:
474 INTERNATIONAL ECONOMICS • The
- Page 510:
PHOTO CREDITS Part 1: Opener: (top)
- Page 513 and 514:
G-2 GLOSSARY discouraged worker: An
- Page 515 and 516:
G-4 GLOSSARY poverty threshold (U.S
- Page 517 and 518:
I-2 INDEX Borrowing excess reserves
- Page 519 and 520:
I-4 INDEX Domino’s, 52-53 Doomsay
- Page 521 and 522:
I-6 INDEX Government, 70-87 circula
- Page 523 and 524:
I-8 INDEX International finance, 43
- Page 525 and 526:
I-10 INDEX Money—Cont. internatio
- Page 527 and 528:
I-12 INDEX Refinancing, 265-266 Reg
- Page 529:
I-14 INDEX U.S. economy—Cont. fed
- Page 535 and 536:
REAL GROSS DOMESTIC PRODUCT IN CHAI
- Page 537:
POPULATION AND THE LABOR FORCE, 192