The Economy Today

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Preface
An Overview	p. 3
The U.S. Economy	p. 33
Supply and Demand	p. 54
The Public Sector	p. 80
National-Income Accounting	p. 105
Unemployment	p. 125
Inflation	p. 143
The Business Cycle	p. 166
Aggregate Spending	p. 191
Potential Instability	p. 216
Fiscal Policy	p. 237
Deficits and Debt	p. 258
Money and Banks	p. 284
The Federal Reserve System	p. 305
Monetary Policy	p. 322
Supply-Side Policy: Short-Run Options	p. 348
Growth and Productivity: Long-Run Possibilities	p. 370
Global Macro	p. 391
Theory and Reality	p. 408
The Demand for Goods	p. 439
The Costs of Production	p. 474
The Competitive Firm	p. 502
Competitive Markets	p. 529
Monopoly	p. 553
Oligopoly	p. 576
Monopolistic Competition	p. 603
(De)Regulation of Business	p. 617
Environmental Protection	p. 637
The Farm Problem	p. 658
The Labor Market	p. 675
Labor Unions	p. 699
Rent, Interest, and Profit	p. 718
Taxes: Equity vs. Efficiency	p. 733
Work vs. Welfare	p. 750
International Trade	p. 767
International Finance	p. 795
International Development	p. 817
The Collapse of Communism: Russia and Cuba	p. 838
Glossary	p. G-1
Index	p. I-1
Problem Set	P-1
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