Study Guide for Economics

Each chapter of the study guide offers chapter objectives, a chapter outline, key terms to know, multiple-choice and true/false self test questions, and when appropriate additional graphing problems. The answers for each problem are located at the end of the study guide.

What Economics Is About

1

(12)

Trade, Tradeoffs, and Economic Systems

12

(11)

Supply, Demand, and Price: The Theory

23

(11)

Applications of Supply and Demand: Using Supply and Demand to Explain Market and Nonmarket Behavior

34

(12)

Macroeconomic Measurements, Part I: Prices and Unemployment

46

(12)

Macroeconomic Measurements, Part II: GDP and Real GDP

58

(12)

Aggregate Demand and Aggregate Supply

70

(11)

The Self-Regulating Economy

81

(9)

Economic Instability: A Critique of the Self-Regulating Economy

90

(10)

Fiscal Policy

100

(9)

Taxes, Deficits, Surpluses, and the Public Debt

109

(7)

Money and Banking

116

(9)

The Federal Reserve System

125

(10)

Money and the Economy

135

(11)

Monetary Policy

146

(10)

Expectations Theory and the Economy

156

(11)

Economic Growth: Resources, Technology, and Ideas

167

(10)

Elasticity

177

(9)

The Logic of Consumer Choice

186

(9)

The Firm

195

(9)

Production and Costs

204

(13)

Perfect Competition

217

(11)

Monopoly

228

(8)

Monopolistic Competition and Oligopoly

236

(10)

Government and Product Markets: Antitrust and Regulation

246

(9)

Agriculture: Farmers' Problems, Government Policies, and Unintended Effects

255

(8)

Factor Markets: With Emphasis on the Labor Market

263

(9)

Wages, Unions, and Labor

272

(9)

The Distribution of Income and Poverty

281

(9)

Interest, Rent, and Profit

290

(9)

Market Failure: Externalities, Public Goods, and Asymmetric Information

299

(9)

Public Choice: Economic Theory Applied to Politics

308

(8)

International Trade

316

(10)

International Finance

326

(10)

International Economic Development

336

(7)

Answer Key

343

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Study Guide for Economics

Summary

Table of Contents

Supplemental Materials

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Study Guide for Economics

Summary

Table of Contents

Supplemental Materials

Digital License