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THÔNG TIN TÀI LIỆU
Cấu trúc
Cover
Title Page
Copyright Page
Contents
One-Semester Course Outline
Preface
New to This Edition
Making the Connection—from the Classroom to the Real World
Helping Students Focus and Think Critically
MyEconLab: The Power of Practice
Supplemental Resources
Acknowledgments
Photo Credits
PART 1 Introduction
1 The Nature of Economics
The Power of Economic Analysis
Defining Economics
The Three Basic Economic Questions and Two Opposing Answers
The Economic Approach: Systematic Decisions
Economics as a Science
Why Not…: Try to Increase Blood Donations by Offering Small Payments to Donors?
Positive Versus Normative Economics
You Are There: A Movie Producer Responds to Incentives
Issues & Applications: In Many U.S. Industries, Command and Control Rules
Summary: What You Should Know/Key Terms and Key Figures/Where to Go to Practice
Problems
Economics on the Net
Answers to Quick Quizzes
Appendix A: Reading and Working with Graphs
Direct and Inverse Relationships
Constructing a Graph
Graphing Numbers in a Table
The Slope of a Line (A Linear Curve)
Summary: What You Should Know/Key Terms and Key Figures/Where to Go to Practice
Problems
Example: The Perceived Value of Gifts
Getting Directions
International Example: Indian Men Living in the United States Become Ineligible Bachelors
Policy Example: The Government Gives Everyone an Incentive to Own a Golf Cart
2 Scarcity and the World of Trade-Offs
Scarcity
Wants and Needs
Scarcity, Choice, and Opportunity Cost
The World of Trade-Offs
The Choices Society Faces
Why Not…: Provide “Free” Health Care to Everyone in the United States?
Economic Growth and the Production Possibilities Curve
The Trade-Off Between the Present and the Future
Specialization and Greater Productivity
Comparative Advantage and Trade Among Nations
You Are There: Stopping Students’ Thursday Night Parties with Friday Classes
Issues & Applications: Is Daylight Saving Time Efficient?
Summary: What You Should Know/Key Terms and Key Figures/Where to Go to Practice
Problems
Economics on the Net
Answers to Quick Quizzes
Example: Airlines Confront the Opportunity Cost of Legroom on Planes
International Example: France Is the Sleeping Giant
Time as a Determinant of Comparative Advantage
3 Demand and Supply
Demand
The Demand Schedule
Shifts in Demand
The Law of Supply
The Supply Schedule
Why Not…: Help College Students by Requiring Publishers to Reduce Prices for All of the Textbooks They Currently Supply?
Shifts in Supply
Putting Demand and Supply Together
You Are There: Adjusting to a Lower Market Clearing Price of Solar Cells
Issues & Applications: How the Great Recession Identified Inferior Goods
Summary: What You Should Know/Key Terms and Key Figures/Where to Go to Practice
Problems
Economics on the Net
Answers to Quick Quizzes
Example: A Mistaken Price Change Confirms the Law of Demand
Why Even Low-Income Households Are Rushing to Buy iPhones
An Income Drop Reveals That Divorce Services Are a Normal Good
Computer Hardware Consumers Substitute in Favor of “Clouds”
How “Fracking” for Natural Gas Has Affected Its Supply
How the Housing Bust Created a Sawdust Shortage
International Example: Why the Quantity of Brides Supplied Is Rising in China
Policy Example: Should Shortages in the Ticket Market Be Solved by Scalpers?
4 Extensions of Demand and Supply Analysis
The Price System and Markets
Changes in Demand and Supply
The Rationing Function of Prices
The Policy of Government-Imposed Price Controls
The Policy of Controlling Rents
Why Not…: Require Owners of Residential Buildings to Provide Low-Cost Housing So That All U.S. Residents Can “Afford” Roofs over Their Heads?
Price Floors in Agriculture
Price Floors in the Labor Market
Quantity Restrictions
You Are There: “Cash for Clunkers” Subsidies and the Market for “Liquid Glass”
Issues & Applications: Contemplating Two Ways to Tackle Water Shortages
Summary: What You Should Know/Key Terms and Key Figures/Where to Go to Practice
Problems
Economics on the Net
Answers to Quick Quizzes
Appendix B: Consumer Surplus, Producer Surplus, and Gains from Trade within a Price System
Consumer Surplus
Producer Surplus
Gains from Trade Within a Price System
Price Controls and Gains from Trade
International Policy Example: The Rice Must Be White!
International Example: Assisting Scattered Emigrants Who Want to Help Kin at Home
What Accounts for Rising Pork Prices in China?
Policy Example: Bad Timing for Increasing the Minimum Wage
5 Public Spending and Public Choice
What a Price System Can and Cannot Do
Correcting for Externalities
The Other Economic Functions of Government
The Political Functions of Government
Why Not…: Classify Broadband Internet Access as a Government-Sponsored Good and Provide It to All U.S. Residents?
Public Spending and Transfer Programs
Collective Decision Making: The Theory of Public Choice
You Are There: A Town Confronts a Parked Externality
Issues & Applications: Uncle Sam Becomes an Investor in Clean-Energy Technology
Summary: What You Should Know/Key Terms and Key Figures/Where to Go to Practice
Problems
Economics on the Net
Answers to Quick Quizzes
Example: Space Age Litterbugs
Countdown to Private Production of Space Travel
Valuable Charter School Services—for Those Who Can Get Them
International Example: So Little Mail, So Little for So Many Post Offices to Do
Policy Example: Seeking to Halt “Overuse” of Massachusetts Health Care
6 Funding the Public Sector
Paying for the Public Sector
Systems of Taxation
The Most Important Federal Taxes
Tax Rates and Tax Revenues
Why Not…: Follow the Example of States such as Maryland by Creating a “Millionaires” Tax Bracket with Extra-High Tax Rates Applied to Incomes Exceeding $1 Million per Year?
Taxation from the Point of View of Producers and Consumers
You Are There: A Business Owner Responds to a Marginal Tax Rate Increase
Issues & Applications: Raising Capital Gains Tax Rates Shrinks the Tax Base
Summary: What You Should Know/Key Terms and Key Figures/ Where to Go to Practice
Problems
Economics on the Net
Answers to Quick Quizzes
International Policy Example: Ireland Collects Plenty of Corporate Taxes with a Low Rate
Policy Example: Government Grinches Grab Gifts
Will U.S. Consumers Pour Their Dollars into a Federal VAT?
What the Typical Taxpayer Owes Out of the Next Dollar Earned
PART 2 Introduction to Macroeconomics and Economic Growth
7 The Macroeconomy: Unemployment, Inflation, and Deflation
Unemployment
Why Not…: Provide Job Losers with Unemployment Benefits Indefinitely?
The Major Types of Unemployment
Full Employment and the Natural Rate of Unemployment
Inflation and Deflation
Anticipated versus Unanticipated Inflation
Changing Inflation and Unemployment: Business Fluctuations
You Are There: A Family Restaurant Regretfully Boosts the Unemployment Rate
Issues & Applications: Bad News from the Misery Index
Summary: What You Should Know/Key Terms and Key Figures/Where to Go to Practice
Problems
Economics on the Net
Answers to Quick Quizzes
Example: Rethinking Rankings of Top-Selling Films
Keeping Tabs on Economic Sentiment
International Example: A Source of “Nonregularity” in Japan’s Cyclical Unemployment
8 Measuring the Economy’s Performance
The Simple Circular Flow
National Income Accounting
Two Main Methods of Measuring GDP
Other Components of National Income Accounting
Distinguishing Between Nominal and Real Values
Why Not…: Always Use the Most Recent Completed Calendar Year as the Base Year for Computing Real GDP?
Comparing GDP Throughout the World
You Are There: Questioning China’s Official Real GDP Statistics
Issues & Applications: Can More Per Capita Real GDP Buy Additional Happiness?
Summary: What You Should Know/Key Terms and Key Figures/Where to Go to Practice
Problems
Economics on the Net
Answers to Quick Quizzes
Example: Is Failing to Include Hidden Intangibles Depressing Measured Business Fixed Investment?
Correcting GDP for Price Index Changes, 2001–2011
International Policy Example: The French Government Seeks to De-emphasize GDP
International Example: Purchasing Power Parity Comparisons of World Incomes
9 Global Economic Growth and Development
How Do We Define Economic Growth?
Productivity Increases: The Heart of Economic Growth
Saving: A Fundamental Determinant of Economic Growth
New Growth Theory and the Determinants of Growth
Why Not…: Promote Innovation by Awarding More Patents?
Immigration, Property Rights, and Growth
Economic Development
You Are There: A Nonabsorbable Fat Finally Finds a Market Niche
Issues & Applications: China Discovers the Growth Benefits of Patents
Summary: What You Should Know/Key Terms and Key Figures/Where to Go to Practice
Problems
Economics on the Net
Answers to Quick Quizzes
International Example: Growth Rates Around the World
Tracking a Global Economic Growth Divergence
The High Chinese Saving Rate and Its Growth Implications
What Economic Growth Success Stories Have in Common
PART 3 Real GDP Determination and Fiscal Policy
10 Real GDP and the Price Level in the Long Run
Output Growth and the Long-Run Aggregate Supply Curve
Total Expenditures and Aggregate Demand
Shifts in the Aggregate Demand Curve
Long-Run Equilibrium and the Price Level
Causes of Inflation
Why Not…: Pass a Law That Prohibits Firms from Raising Their Prices?
You Are There: Fighting Inflation in Pakistan
Issues & Applications: Japan’s Deflation Rate Switches from Steady to Volatile
Summary: What You Should Know/Key Terms and Key Figures/Where to Go to Practice
Problems
Economics on the Net
Answers to Quick Quizzes
Example: How Much Might “Going Green” Reduce U.S. Economic Growth?
Explaining the Drop in Aggregate Demand in the Late 2000s