Tài liệu international economics theory and policy 10th global edtion by krugman

Tài liệu international economics theory and policy 10th global edtion by krugman Tài liệu international economics theory and policy 10th global edtion by krugman Tài liệu international economics theory and policy 10th global edtion by krugman Tài liệu international economics theory and policy 10th global edtion by krugman Tài liệu international economics theory and policy 10th global edtion by krugman Tài liệu international economics theory and policy 10th global edtion by krugman

International Economics Theory and Policy For these Global Editions, the editorial team at Pearson has collaborated with educators across the world to address a wide range of subjects and requirements, equipping students with the best possible learning tools This Global Edition preserves the cutting-edge approach and pedagogy of the original, but also features alterations, customization and adaptation from the North American version Global edition Global edition Global edition  International Economics T  heory and Policy Tenth edition Tenth edition Krugman • Obstfeld • Melitz This is a special edition of an established title widely used by colleges and universities throughout the world Pearson published this exclusive edition for the benefit of students outside the United States and Canada If you purchased this book within the United States or Canada you should be aware that it has been imported without the approval of the Publisher or Author Pearson Global Edition Paul R Krugman • 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Exercises Up-to-date macro data is a great way to engage in and understand the usefulness of macro variables and their impact on the economy Real-Time Data Analysis exercises communicate directly with the Federal Reserve Bank of St Louis’s FRED® site, so every time FRED posts new data, students see new data End-of-chapter exercises accompanied by the Real-Time Data Analysis icon include RealTime Data versions in MyEconLab Select in-text figures labeled MyEconLab RealTime Data update in the electronic version of the text using FRED data Current News Exercises Posted weekly, we find the latest microeconomic and macroeconomic news stories, post them, and write auto-graded multi-part exercises that illustrate the economic way of thinking about the news Interactive Homework Exercises Participate in a fun and engaging activity that helps promote active learning and mastery of important economic concepts Pearson’s experiments program is flexible and easy for instructors and students to use For a complete list of available experiments, visit www.myeconlab.com ® A01_KRUG9550_10_GE_FM.indd 19/03/14 2:57 PM A01_KRUG9550_10_GE_FM.indd 19/03/14 2:57 PM = more than $200 billion = $150–200 billion = $100–150 billion = $50–100 billion = $20–50 billion = Less than $20 billion per year = Imports = Exports Key Australia and New Zealand Mexico United States Canada Other Latin America Eastern Europe Africa Western Europe erchandise Trade Flows with the United States Japan M China Russia Australia and New Zealand Source: IMF Direction of Trade Statistics, 2013 Other Asia Japan = more than $200 billion = $150–200 billion = $100–150 billion = $50–100 billion = $20–50 billion = Less than $20 billion per year = Imports = Exports Key Australia and New Zealand Mexico United States Canada Other Latin America Eastern Europe Africa Western Europe erchandise Trade Flows with the United States Japan M China Russia Australia and New Zealand Source: IMF Direction of Trade Statistics, 2013 Other Asia Japan International Economics Theory and Policy Tenth Edition GLOBAL Edition Paul R Krugman Princeton University Maurice Obstfeld University of California, Berkeley Marc J Melitz Harvard University Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montréal Toronto Delhi Mexico City São Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo A01_KRUG9550_10_GE_FM.indd 19/03/14 2:57 PM For Robin—P.K For my family—M.O For Clair, Benjamin, and Max—M.M Editor in Chief: Donna Battista Managing Editor: Jeff Holcomb Head of Learning Asset Acquisition, Global Editions:   Laura Dent Associate Editor, Global Editions: Toril Cooper Program Manager: Carolyn Philips International Marketing Manager: Kristin Schneider Production Project Manager: Carla Thompson Assistant Project Editor, Global Editions: Paromita Banerjee Procurement Specialist: Carol Melville Senior Operations Supervisor: Arnold Vila Operations Specialist: 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1-292-01955-7 ISBN 13: 978-1-292-01955-0 British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library 10 9 8 7 6 5 4 3 2 1 15 14 13 12 11 Typeset in 10/12 Times New Roman, Integra Software Services, Inc Printed and bound by Courier Kendallville in The United States of America A01_KRUG9550_10_GE_FM.indd 19/03/14 2:57 PM    ■    Brief Contents Contents Preface 1 Introduction Part International Trade Theory 23 33 42 World Trade: An Overview 42 3 Labor Productivity and Comparative Advantage: The Ricardian Model 56 Specific Factors and Income Distribution 83 Resources and Trade: The Heckscher-Ohlin Model 116 The Standard Trade Model 150 7 External Economies of Scale and the International Location of Production 177 8 Firms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises 196 Part International Trade Policy The Instruments of Trade Policy 238 238 10 The Political Economy of Trade Policy 268 11 Trade Policy in Developing Countries 307 12 Controversies in Trade Policy 322 Part Exchange Rates and Open-Economy Macroeconomics 345 13 National Income Accounting and the Balance of Payments 345 14 Exchange Rates and the Foreign Exchange Market: An Asset Approach 374 15 Money, Interest Rates, and Exchange Rates 411 16 Price Levels and the Exchange Rate in the Long Run 445 17 Output and the Exchange Rate in the Short Run 483 18 Fixed Exchange Rates and Foreign Exchange Intervention 527 Part International Macroeconomic Policy 570 19 International Monetary Systems: An Historical Overview 570 20 Financial Globalization: Opportunity and Crisis 629 21 Optimum Currency Areas and the Euro 666 22 Developing Countries: Growth, Crisis, and Reform 702 A01_KRUG9550_10_GE_FM.indd 19/03/14 2:57 PM www.downloadslide.net 780 Index Relative supply (Continued) production possibilities and, 151–152 relative demand and, 155f relative price and, 153f Relative supply curve, 63 Relative wages, 67–68 defined, 67 determination of, 75f in multigood model, 74–76 specialization and, 72–74 Renminbi (Chinese currency), 385, 722 Rent-seeking, 262, 269, 271 Repurchase agreement, 638 Reserve Bank of Zimbabwe (RBZ), 432 Reserve currency defined, 550 mechanics of, 550–551 in world monetary system, 550–551 Reserve requirements, 640 Reserves demand for, 555–558 in developing countries, 721–722, 722f foreign currencies as, 550–551 official reserve transactions, 364–365 Residence changes, by region (1990s), 686, 686t Resources allocation of, 125f output and, 149 production possibilities and, 125f Restructuring, governmentorganized, 641 Returns dynamic increasing, 189–190 in foreign exchange market, 387–388 Revaluation, 539 Revenue, marginal see Marginal revenue Rey, Hélène, 381n Ricardian model, 69, 74, 83–84 defined, 58 empirical evidence on, 77–79 Ricardo, David, 34, 37, 53, 58, 58n, 447 Rice imports, tariffs on, 283 Rich/poor gap, 703–704 see also Wealth Richardson, J David, 458n Rise in Pc landowners and, 114f owners of capital and, 114f Risk, 387–388 in foreign exchange market, 387–388 in international financial markets, 654–660 money demand and, 415 Risk aversion, 632 Risk premium, 547, 565f foreign exchange market efficiency and, 659–660 Risky assets, international exchanges of, 36 Robinson, James, 738–739, 739n Rockoff, Hugh, 585 Rodriguez, Francisco, 314n Rodrik, Dani, 314n, 721n, 730 Rogers, John, 684 Rogoff, Kenneth, 619n, 660n, 671n, 713n, 737n Romalis, John, 139, 139n Z02_KRUG9550_10_GE_IND.indd 780 Romer, Christina D., 583n, 588n Romer, David, 437n Rose, Andrew K., 462n, 684, 684n Rossi-Hansberg, Esteban, 229n RS curve, shift in, 156, 158, 164–167 Russia, financial crisis in, 728 Ruth, Babe, comparative advantage and, 65 Rybczynski, T M., 126n Sachs, Jeffrey D., 130n “Safe haven” currency, 545 Salop, Stephen, 201n Samuelson, Paul, 56, 84, 98n, 124n, 162, 463 Saudi Arabia, 464n Saving in Asian economies, 724–725 current account and, 355–356 private, 355–356 rates for 24 countries, 657f Saxenian, Annalee, 182n Scandinavia, duty-free shops in, 467–468 Scarce factor, 128 Schnabl, Philipp, 648n Schoenmaker, Dirk, 645n Second best, theory of, 276–277 Secondary income payments, 349n Securitization, 647 Seigniorage, 707 Self-fulfilling currency crises, 543, 692 Semiconductor industry, 329–330 Service offshoring, 51 Service outsourcing, 51 Services, trade in, 51 SGP see Stability and Growth Pact (SGP) Shadow banking system, 637 Shambaugh, Jay C., 557n, 650n Shatz, Howard, 130n Shipbreaking industry, 339–341 Short run defined, 421 money supply and exchange rate in, 421–426 output and exchange rate in, 483–526 output in, 489–490, 489f output market equilibrium and, 490–494 output market equilibrium in, 490–494 PPP in, 462 price rigidity vs long-run price flexibility in, 430–433 Short-run equilibrium, for open economy (DD and AA schedules), 498–499, 498f, 499f Signaling effect of foreign exchange intervention, 549 Silgoner, Maria Antoinette, 685n Silicon Valley, 180–182, 186, 191 Silver, bimetallic standard and, 554 Silver movement, 584 Singapore, 317 exports from, 317 foreign exchange trading in, 380 Single currency, economic union and, 672–673 see also Euro; Maastricht Treaty; Single European Act (1986) Single European Act (1986), 272–273, 672 Single Resolution Mechanism (SRM), 695 Single Supervisory Mechanism (SSM), 695 Skill-abundance spectrum, 140 Skill-biased technological change, 131–134, 131f, 133f Skills, employment and, 133f Slaughter, Matthew J., 99n, 101n, 130n Smith, Adam, 33, 269, 704 Smoot-Hawley Act (1930), 586 “Snake,” euro and, 598n Sokoloff, Kenneth D., 738n Solnik, Bruno, 654, 655n South America, trade diversion in, 299 see also Latin America; specific locations South Korea, 38, 309, 317 economic miracle in, 720–721 economy in, 725 labor productivity in, 70–71 Sovereign default, 689 Sovereign nations, 39, 335–336 Spain Eurozone debt crisis and, 691–693 home prices, 611f Spangler, Inc., 255 Spanish-language television programs, 192 Special interest groups, trade policy and, 281 Specialization, relative wages and, 74–76 Specialized suppliers, 180 Specific factors, 85 income distribution and, 90–115 Specific factors model, 83–95 assumptions of, 85–86 international trade in, 95–97 marginal and total product, 112–113, 112f political economy of trade in, 99–102 prices, wages, and labor allocation, 89–94 production possibilities, 86–89, 91f production possibility frontier, 88f relative prices and distribution of income, 93–95, 113–115 Specific tariff, 238 Speculative capital flows, 591 Spencer, Barbara, 326 Spot exchange rates, 382–383, 382f defined, 382 dollar and pound, 378t Srinivasan, T.N., 713n Stability and Growth Pact (SGP) defined, 574 Maastricht convergence criteria and, 673–674 Stabilization policies, with fixed exchange rate, 536–541 Stagflation, 605 Standard trade model, 150–176 defined, 151 determining relative prices, 156 economic growth and, 156, 158 equilibrium relative price, 157f 3/5/14 9:28 PM www.downloadslide.net Index growth and production possibility frontier, 158 international borrowing and lending, 167–170 international effects of growth, 161, 163–164 intertemporal trade, 167–170 production, consumption, and trade in, 154f production possibilities and relative supply, 151–152 relative prices and demand, 152–155 tariffs and export subsidies, 164–167 trading economy and, 151–164 welfare effect of changes in terms of, 155–156 world relative supply and terms of trade, 158, 160 Statistical discrepancy, 363 Steel products, U.S tariffs on imports, 292–293 Steffen, Sascha, 687t Sterilization of foreign exchange intervention, 532 Sterilized foreign exchange intervention imperfect asset substitutability and, 547–549, 564–566 managed floating and, 544–549 perfect asset substitutability and, 544–546 Sterilized gold flows, 583 Sticky prices, law of one price and, 467–468 Stiglitz, Joseph, 721n, 730 Stolper-Samuelson effect, 124n, 279 Stolper, Wolfgang, 124n Store of value, money as, 413 Strategic trade policy, 322 imperfect competition and, 325–329 Subaru BRAT, 248 Subprime mortgages, 614, 647 Subramanian, Arvind, 737n Subsidies export, 283 by U.S to cotton producers, 294 Sudden stop, 574, 694, 711 Sugar industry (United States), 100, 102, 253–255, 253f, 254f, 286 Supply see also Relative supply and demand and trade in single industry, 239–241 demand, long-run real exchange rate and, 465–466 and foreign exchange market equilibrium, 564 optimum tariff and, 304 relative output, 468 Supply curve, export, 240f Surplus in current account, 578 trade, 38–39 Sveikauskas, Leo, 137 Svensson, Lars E.O., 619n Swap lines, 650–651 Swaps, foreign exchange, 383 Swiss franc, 545 exchange rates and, 546f Z02_KRUG9550_10_GE_IND.indd 781 Swiss National Bank (SNB), 545, 650 Swoboda, Alexander, 683n Symmetric monetary system, under gold standard, 552–553 Symmetry, 616–617 under floating exchange rates, 601–602 Taiwan, 317 China and, 317 Tangible goods, trade in, 36 Tanzi, Vito, 708n Tariff-rate quota, 269, 270 Tariffs see also Free trade; Preferential trading agreement; specific tariffs on bananas, 298 basic analysis of, 238–244 chicken tariff, 248 cost and benefits of, 244–249 costs and benefits of, 244–249, 247f domestic market failure argument for, 309–310 domestic welfare and, 305–306 effects of, 241–242, 242f export subsidies and, 164–167 indirect costs of, 248 measuring protection from, 242–244, 246–249 monopolist protected by, 265f optimum, 274f in presence of monopoly, 264–267 prices and, 304–305, 304f quotas compared with, 266–267, 267f rates in developing countries, 315f removal of, 282–283 in small country, 243, 243f terms of trade and, 165f, 166f terms of trade argument and, 274–275 United States tariff rate, 284f United States tariffs on imported steel, 292–293 voter preferences for, 279–280 welfare effects of, 249f, 305f Tarr, David G., 256n Taxes, on imports in which carbon is emitted, 341–342 Taylor, Alan M., 455n, 557n, 650n Taylor, Mark P., 455n Technology decline of technology industry, 324–325, 328 estimated efficiency (United States, 1983), 138t externalogies and, 323–325 world trade pattern and, 48–50 Temin, Peter, 587n Terminology, euronyms as, 668t Terms of trade defined, 151 relative supply and, 158, 160 tariff effects on, 165f, 166–167, 166f welfare effect of changes in, 155–156 Terms of trade argument for a tariff, 274 Terms of trade gain, 247 Terrorist attacks of September 43, 2001, 648 Thailand, 726, 728 781 Thatcher, Margaret, 689n Theory of the second best, 276–277 defined, 276 Third world, 51 see also Developing countries agricultural subsidies and, 294 Tigers, East Asian, 317 Time deposits, 413n Tinseltown economics (entertainment hollywood), 192 Tobin, James, 554n Tokyo, foreign exchange trading in, 380 Tokyo Round, 288 “Too big to fail”, 642–644 Tradable industries, 190–191, 191 share of employment, 53f Trade see also Barriers to trade; Canada, NAFTA and; Gains from trade; International trade; Money; Tariffs; World trade consumption possibilities expanded by, 66f distribution of income and, 128 in European Union, 272–273, 683–685 with external economies, 188–189 factor content of, 136–139, 138t firm responses to, 213–217 gains from, 630–632 in goods, 50–51 gravity model of, 43–45 growth of developing-country, 316f, 317f impediments to, 46–47 interregional, 190–193 intertemporal, 522–523 intra-industry, 210 money and, 40–41 monopolistic competition and, 206–210 nontrade and, 68–69 in one-factor world, 61–69 prices and, 185f relative prices and, 96f, 126–128, 127f resources and, 116–149 in services, 51–53 in standard model, 151–164 sugar imports and, 253–255, 253f, 254f supply and demand in single industry and, 239–241 total U.S with major partners (2012), 43f volume of, 37–38 wages and, 332–334 Trade agreements, 46, 286–288 see also specific agreements defined, 46 North America Free Trade Agreement (NAFTA) and, 46–47 Trade barriers see Barriers to trade Trade creation, 299 Trade diversion defined, 299 in South America, 299 Trade elasticities, Marshall-Lerner condition and, 524–526 3/5/14 9:28 PM www.downloadslide.net 782 Index Trade flow gradual adjustment and current account, 510–513 income distribution and, 129 Trade liberalization, 282–283, 288–289, 291 environmental Kuznets curve and, 338 in Mexico, 312 since 1985, 314–316 wage inequality in, 132 Trade negotiations, environment and, 341–342 Trade policy, 249–250 activist, 323–329 in Asian economies, 314–316 controversies in, 322–344, 590–591 in developing countries, 307–321, 307–321 effects of, 250f, 259–260, 260t export subsidies and, 250f import quotas and, 249–250, 253–255 import-substituting industrialization and, 313–314 income distribution and, 278–280, 282–283 instruments of, 238–267, 249–256 international negotiations and, 284–293 local content requirements and, 257–259 national procurement and, 259 political campaign contributions and, 282 political economy of, 268–306 red tape barriers and, 259 special interest groups and, 281 tariff analysis and, 238–244 tariff costs and benefits, 244–249 voluntary export restraints and, 256–257 Trade preferences, on bananas, 298 Trade-Related Aspects of Intellectual Property (TRIPS), 290 Trade rounds, 287 see also Doha Round Trade surplus, balance of payments and, 38–39 Trade war, 285, 285t Transfers of income international, 349 unilateral, 349 Transparency, increasing, 730–731 Transparency International, corruption index by, 708n Transport costs, nontraded goods and, 76–77 Transportation, progress of, 48–50 The Trap (Goldsmith), 70 Treaty of Rome, 668, 672 Trefler, Daniel, 137, 213–214, 214n Triffin, Robert, 596 Trilemma financial, 644–647, 683 monetary, 579–580, 580f, 635, 666, 670, 729–730 TRIPS see Trade-Related Aspects of Intellectual Property (TRIPS) Tuna, protection of, 271 Z02_KRUG9550_10_GE_IND.indd 782 Two-factor economies, 117–126 effects of international trade between, 126–135 factor prices and goods prices in, 122–124 mix of inputs in, 121–122 model of, 117–126 prices and production in, 117–121, 120f resources and output in, 124–126 Two-firm competition, 327t Unconventional monetary policies, 516 Unemployment international trade and, 100–101, 101f monetary policy and, 626f offshoring and, 229–231 rates in selected EU countries, 685f Unilateral transfers, 349 Unit isoquant, 146 Unit labor requirements, 58, 73t Unit of account, 412 money as, 412–413 United Kingdom see England (Britain) United States, 140 see also Dollar (U.S.); North America Free Trade Agreement (NAFTA) air pollution standards in, 291 assets of, 366–369, 368f balance of payments in (2012), 362t banana imports and, 298 bank regulation in, 640–642 Commerce Department, 220, 221 convertible currency in, 590 Department of Homeland Security, 258 distribution of wages in, 128–133 economic size and trade with, 46f embargo by Jefferson in, 68 entertainment exports from, 192 estimated technology efficiency (1983), 138t exports of, 137 external balance problem of, 596–600 factor content of exports and imports (1962), 136t financial derivatives in, 363 foreign inflation and, 601–602 GNP in, 348f gold standard and, 581, 586–587 home prices, 611f imports of business services, 231f income inequality in, 128 long-term real interest rate for, 613f mortgage market crisis in, 614, 647 national income and balance of payments, 365 non-production to production employment ratio, 133f North America Free Trade Agreement (NAFTA) and, 38 offshoring and unemployment in, 229–231 proportion of firms reporting export sales, 218 service offshoring, 229–231, 231f states trading with British Columbia, 47, 48f sugar industry, 253–255, 253f tariff rate of, 284f terms of trade and, 163f trade and, 42, 44f, 51 U.S General Accounting Office, 102 U.S Trade Adjustment Assistance Program, 101 wage inequality in, 132 WTO and subsidies to cotton producers, 293 Unskilled labor, in production of imports, 138–139 Upper-middle-income economies, 703, 703t Uruguay Round International Negotiations and Trade Policy, 288 MFA phaseout and, 283 Uruguay Round agreement, 38 U.S banking crisis, 40 U.S Bureau of Economic Analysis (BEA) see Bureau of Economic Analysis (BEA), of U.S Department of Commerce U.S Bureau of Labor Statistics, 100 U.S Farm Bill, 102 Vallée, Shahin, 695n Valencia, Fabián, 641n Value date, of currency exchange, 382 Van Wincoop, Eric, 684n Vashaw, Kirk, 255 Vehicle currency, 381 Venezuela, pollution standards and, 291 Vertical FDI (foreign direct investment), 225, 227 Vietnam, manufacturing costs in, 186–187, 187f Viner, Jacob, 463 Volatility, foreign exchange market efficiency and, 660–661 Volcker Paul A., 606–607 Volkswagen, 248 Volosovych, Vadym, 737n Voluntary export restraint (VER), 256 World Trade Organization and, 257 Von Peter, Götz, 650n Voters, policy preferences of, 279–280 Wachovia, 649 Wage convergence, mass migration and, 104–105 Wage rate comparative international, 135t relative wages, specialization, and, 74–76 Wage-rental ratio, 122f changing, 147f determining, 148f Wages see also Relative wages distribution in United States, 128–133, 129–130 for immigrant labor, 105t inequality of, and foreign investment, 132 maquiladoras and, 312, 332–333 North-South trade and, 129 3/5/14 9:28 PM www.downloadslide.net Index prices and, 92–94 productivity reflected in, 70, 71f real, 333t relative, 74–76, 75f skill-biased technological change and, 131–134, 131f trade and, 332–334 Wal-Mart, 331 Waldman, Daniel, 438n Walters, Alan, 689n Ward, Geoffrey C., 65 Washington Mutual Bank, 649 Wealth, in world economy, 703–706 see also Income gap Wealth of Nations, The (Smith), 33, 704 Wealthy nations see Advanced nations Weinstein, David, 211 Welfare with external economies, 188–189 tariffs and, 305–306 Welfare costs, of U.S protection, 283t Welfare effect of changes in terms of trade, 155–156 of tariffs, 249f Wells Fargo Bank, 649 Werning, Iván, 683n Wessel, David, 649n West Indies, bananas from, 298 Z02_KRUG9550_10_GE_IND.indd 783 West, Nathaniel, 192 Westmoreland, Kyle L., 358n Will, Martin, 294t Wolfe, Tom, 182n Wood, Adrian, 130n Woodford, Michael, 437n Work force see Labor force; Labor force Workers see also Labor; Labor force skilled/unskilled wage gap, 131, 131f World Bank, 588n on liberalization of trade, 293 Mercosur and, 299 World economy, transformation and crisis in, 609–611 World equilibrium, 241, 241f World trade, 42–55 see also International trade changes in, 53–54 composition of (2011), 50f gravity model of, 43–45 India and, 319 pattern of, 48–53 service offshoring, 51–53 trading partners, 42–48 World Trade Organization (WTO), 38, 39, 289–290, 588n, 730 anti-globalization movement and, 291 defined, 287 783 dispute settlement procedure of, 291 environment and, 334–335 European banana import regime and, 298 national sovereignty and, 291, 335–336 U.S tariffs on steel and, 292–293 voluntary restraints and, 257 World War II, international monetary system after, 550, 570 Worldwide inflation see Inflation WTO see World Trade Organization (WTO) Wynne, Mark A., 430n Yen (Japan), 379 Australian dollar and, 401f carry trade and, 400–402 exchange rate with dollar, 389f, 456f interest rates on, 389f Yuan (China), 733f exchange rate with dollar, 733f rate of return and, 385–386, 386f Yuskavage, Robert E., 358n Zimbabwe hyperinflation in, 432–433, 433n monthly inflation in, 433f 3/5/14 9:28 PM www.downloadslide.net Z02_KRUG9550_10_GE_IND.indd 784 3/5/14 9:28 PM www.downloadslide.net Credits Chapter p 65: AP Images; p 68: North Wind/ North Wind Picture Archives Chapter 14 p 376: Ahn Young-Joon/AP Images Chapter 16 p 430: Imagebroker.net/SuperStock Chapter p 104: Library of Congress Prints and Photographs Division [LC-D4-12683] Chapter 19 p 587: Franklin D Roosevelt Library and Museum; p 604: AP Images Chapter p 221: Si Wei/Color China Photo/AP Images; p 229: © 2004 Drew Dernavich/ The New Yorker Collection/www.​ cartoonbank.com Chapter 20 p 648: Richard Drew/AP Images Chapter 21 p 683: Domenico Stinellis/AP Images; p 691: Dimitri Messinis/AP Images p 248: Courtesy of Subaru of America, Inc.; p 251: Jockel Finck/AP Images; p 255: Rachel Youdelman/Pearson Education, Inc.; p 258: McClatchyTribune Information Services/Alamy Chapter 22 p 724: Peter Turnley/Corbis Chapter 785 Z03_KRUG9550_10_GE_CRED.indd 785 27/03/14 3:20 PM www.downloadslide.net Z03_KRUG9550_10_GE_CRED.indd 786 27/03/14 3:20 PM www.downloadslide.net Z03_KRUG9550_10_GE_CRED.indd 787 27/03/14 3:20 PM www.downloadslide.net Z03_KRUG9550_10_GE_CRED.indd 788 27/03/14 3:20 PM www.downloadslide.net Z03_KRUG9550_10_GE_CRED.indd 789 27/03/14 3:20 PM www.downloadslide.net Z03_KRUG9550_10_GE_CRED.indd 790 27/03/14 3:20 PM www.downloadslide.net Z03_KRUG9550_10_GE_CRED.indd 791 27/03/14 3:20 PM www.downloadslide.net Z03_KRUG9550_10_GE_CRED.indd 792 27/03/14 3:20 PM www.downloadslide.net www.downloadslide.net ... Applications and Tools* Parkin Economics* Perloff Microeconomics* Microeconomics: Theory and Applications with Calculus* Perloff/Brander Managerial Economics and Strategy* Phelps Health Economics. .. States edition, entitled International Economics: Theory and Policy, 10th Edition ISBN 978-0-13-342364-8 by Paul R Krugman, Maurice Obstfeld, and Marc J Melitz, published by Pearson Education ©... Microeconomic Theory Johnson-Lans A Health Economics Primer Keat/Young/Erfle Managerial Economics Klein Mathematical Methods for Economics Krugman/ Obstfeld/Melitz International Economics: Theory & Policy*