| 000 | 59129cam a2212301Ii 4500 | ||
|---|---|---|---|
| 001 | 161573 | ||
| 008 | 150630s19931993nyua b 011 0 eng | ||
| 020 | _a0879016140 (hardback) | ||
| 040 |
_aTR-IsMEF _beng _erda _cTR-IsMEF |
||
| 049 | _aTR-IsMEF | ||
| 050 | 0 | 0 |
_aHB171.5 _b.S67 1993 |
| 100 | 1 |
_aSpencer, Milton H., _eauthor. |
|
| 245 | 1 | 0 |
_aContemporary economics / _cMilton H. Spencer, Professor of Economics, Emeritus Wayne State University, Orley M. Amos, Jr., Professor of Economics Oklahoma State University. |
| 250 | _aEighth edition. | ||
| 264 | 1 |
_aNew York, N.Y. : _bWorth Publishers, _c1993. |
|
| 264 | 4 | _a©1993 | |
| 300 |
_axxxi, 897, 14, 54 pages : _billustrations (some color) ; _c27 cm. |
||
| 336 |
_atext _2rdacontent |
||
| 337 |
_aunmediated _2rdamedia |
||
| 338 |
_avolume _2rdacarrier |
||
| 504 | _aIncludes bibliographical references and index. | ||
| 650 | 0 | _aEconomics. | |
| 700 | 1 |
_aAmos, Orley M., _d1954-, _eauthor. |
|
| 900 | _aMEF Üniversitesi Kütüphane katalog kayıtları RDA standartlarına uygun olarak üretilmektedir / MEF University Library Catalogue Records are Produced Compatible by RDA Rules | ||
| 920 | _aBağış sahibi bilinmiyor. | ||
| 942 |
_2lcc _cBKS |
||
| 970 | 0 | 1 |
_aPreface, _pxxiv. |
| 970 | 1 | 2 |
_tPart 1 Overview: the economic system, _p1. |
| 970 | 0 | 1 | _aIntroduction. |
| 970 | 1 | 2 |
_tGetting strated in economics, _p2. |
| 970 | 1 | 2 |
_tWhat is economics about?, _p2. |
| 970 | 1 | 1 |
_tThe problem of scarcity, _p3. |
| 970 | 1 | 1 |
_t"Micro" and "Macro", _p3. |
| 970 | 1 | 2 |
_tWorking with theories and models, _p3. |
| 970 | 1 | 1 |
_tWhat do economists do?, _p4. |
| 970 | 1 | 1 |
_tHard principles, soft principles, _p4. |
| 970 | 1 | 1 |
_tExpressing relationships, _p5. |
| 970 | 1 | 2 |
_tCommon fallacies in reasoning, _p5. |
| 970 | 1 | 1 |
_tFallacy of false cause, _p6. |
| 970 | 1 | 1 |
_tFallacies of composition and division, _p6. |
| 970 | 1 | 2 |
_tThe language of graphs, _p7. |
| 970 | 1 | 1 |
_tConstructing graphs, _p7. |
| 970 | 1 | 1 |
_tUsing graphs in economics, _p8. |
| 970 | 1 | 2 |
_tExtending your knowledge of graphs, _p9. |
| 970 | 1 | 1 |
_tUsing letters in place of numbers, _p10. |
| 970 | 1 | 1 |
_tIndependent and dependent variables, _p10. |
| 970 | 1 | 1 |
_tMovements and shifts, _p10. |
| 970 | 1 | 1 |
_tGraphing unrelated variables, _p11. |
| 970 | 1 | 1 |
_tMeasuring slope, _p12. |
| 970 | 1 | 1 |
_tStraight lines and curved lines, _p13. |
| 970 | 1 | 1 |
_tTime series graphs, _p14. |
| 970 | 1 | 2 |
_tMaking the grade in economics, _p15. |
| 970 | 1 | 1 |
_tAttend class: don't cram, _p15. |
| 970 | 1 | 1 |
_tLearn by doing, _p16. |
| 970 | 1 | 1 |
_tExercises in graphing, _p19. |
| 970 | 1 | 2 |
_tEconomic resources, goals and institutions, _p20. |
| 970 | 1 | 2 |
_tResoruces of economic systems, _p20. |
| 970 | 1 | 1 |
_tThe factors of production, _p21. |
| 970 | 1 | 1 |
_tThe economic problem: scarcity, choice, and cost, _p22. |
| 970 | 1 | 1 |
_tEconomic systems, _p22. |
| 970 | 1 | 1 |
_tReturns to owners of resources, _p23. |
| 970 | 1 | 2 |
_tGoals of an economic system, _p23. |
| 970 | 1 | 1 |
_tEfficiency: full employment of resources, _p24. |
| 970 | 1 | 1 |
_tEquity: fairness or economic justice, _p25. |
| 970 | 1 | 1 |
_tStability: steady average price level, _p25. |
| 970 | 1 | 1 |
_tGrowth: rising output per person, _p26. |
| 970 | 1 | 1 |
_tEstablishing a mix of goals, _p26. |
| 970 | 1 | 1 |
_tConclusion: decisions involve trade-offs, _p27. |
| 970 | 1 | 2 |
_tThe great questions: What? How? For Whom?, _p27. |
| 970 | 1 | 1 |
_tWhat goods and services should a society produce-and in what quantities?, _p27. |
| 970 | 1 | 1 |
_tComparative living standards, _p28. |
| 970 | 1 | 1 |
_tHow should resources be organized for production?, _p30. |
| 970 | 1 | 1 |
_tFor whom shall the goods be produced?, _p30. |
| 970 | 1 | 1 |
_tAnswering the questins, _p30. |
| 970 | 1 | 2 |
_tSociety's production possibilities, _p30. |
| 970 | 1 | 1 |
_tLaw of increasing (opportunity) costs, _p32. |
| 970 | 1 | 1 |
_tUsing production-possibilities curves, _p32. |
| 970 | 1 | 2 |
_tCapitalism and our mixed economy, _p34. |
| 970 | 1 | 1 |
_tInstitutions of capitalism, _p34. |
| 970 | 1 | 1 |
_tConclusion: our mixed economy, _p36. |
| 970 | 1 | 2 |
_tThe circular flow of economic activity, _p36. |
| 970 | 1 | 1 |
_tLimitations of the circular-flow model, _p38. |
| 970 | 1 | 2 |
_tOrigins: the founding of economics, _p38. |
| 970 | 1 | 1 |
_tAn Adam Smith sampler, _p39. |
| 970 | 1 | 1 | _aTake a stand. |
| 970 | 1 | 1 |
_tInefficiency: The undoing or communism?, _p44. |
| 970 | 1 | 2 |
_tThe laws of demand and supply: the price system in a pure market economy, _p46. |
| 970 | 1 | 1 |
_tWhat do we mean by demand?, _p47. |
| 970 | 1 | 1 |
_tDemand schedules and demand curves, _p47. |
| 970 | 1 | 1 |
_tThe law of demand, _p48. |
| 970 | 1 | 1 |
_tMarket demand is the sum of individual demands, _p49. |
| 970 | 1 | 1 |
_tWhat do we mean by supply?, _p50. |
| 970 | 1 | 1 |
_tSupply schedules and supply curves, _p50. |
| 970 | 1 | 1 |
_tThe law of supply, _p50. |
| 970 | 1 | 2 |
_tDemand and supply together make a market, _p51. |
| 970 | 1 | 1 |
_tEconomics in the news, _p52. |
| 970 | 1 | 1 |
_tDemand and supply at work, _p52. |
| 970 | 1 | 1 |
_tBuyers and sellers in the marketplace, _p52. |
| 970 | 1 | 2 |
_tTwo kinds of changes involving demand, _p53. |
| 970 | 1 | 1 |
_tChanges in the quantity demanded, _p53. |
| 970 | 1 | 1 |
_tChanges in demand, _p54. |
| 970 | 1 | 1 |
_tSumming up: changes in and movements of demand, _p56. |
| 970 | 1 | 2 |
_tCombined changes in demand and supply, _p58. |
| 970 | 1 | 2 |
_tThe market economy: is it "good" or "bad"?, _p59. |
| 970 | 1 | 1 |
_tSome real-world imperfections, _p61. |
| 970 | 1 | 1 |
_tRelevant even if not realistic, _p61. |
| 970 | 1 | 2 |
_tOrigins: the study of markets mefore Adam Smith, _p62. |
| 970 | 1 | 1 |
_tSt. Thomas Aquinas: scholastic of early capitalism, _p62. |
| 970 | 1 | 1 |
_tJohn Locke: natural rights, _p63. |
| 970 | 1 | 1 |
_tOn the shoulders of giants, _p63. |
| 970 | 1 | 1 | _tTake a stand. |
| 970 | 1 | 1 |
_tConsumer sovereignty: do consumers rule?, _p66. |
| 970 | 1 | 2 |
_tThe private sector-household, business, foreign, _p68. |
| 970 | 1 | 2 |
_tThe household sector: income, wealth, and equity, _p68. |
| 970 | 1 | 1 |
_tFunctional income distribution, _p69. |
| 970 | 1 | 1 |
_tPersonal income distribution, _p70. |
| 970 | 1 | 1 |
_tDistribution of wealth, _p72. |
| 970 | 1 | 1 |
_tMeasuring and explaining inequality in income and wealth distribution, _p72. |
| 970 | 1 | 1 |
_tConclusion: be wary of the "facts", _p75. |
| 970 | 1 | 2 |
_tThe ethics of distribution, _p75. |
| 970 | 1 | 1 |
_tContributive standard, _p76. |
| 970 | 1 | 1 |
_tNeeds standard, _p76. |
| 970 | 1 | 1 |
_tEquality standard, _p76. |
| 970 | 1 | 1 |
_tConclusion: an "optimal" distribution?, _p77. |
| 970 | 1 | 2 |
_tThe business sector: organization and size, _p77. |
| 970 | 1 | 1 |
_tThe proprietorship, _p78. |
| 970 | 1 | 1 |
_tThe partnership, _p78. |
| 970 | 1 | 1 |
_tThe corporation, _p78. |
| 970 | 1 | 1 |
_tBusiness size and problems of bigness, _p79. |
| 970 | 1 | 2 |
_tThe foreign sector: international trade and finance, _p80. |
| 970 | 1 | 1 |
_tEnglarging the circular-flow model, _p81. |
| 970 | 1 | 1 |
_tHow to calculate your class's gini coefficient, _p85. |
| 970 | 1 | 1 |
_tIncome distribution: is it fair?, _p86. |
| 970 | 1 | 2 |
_tThe public sector-government: public choice and taxation, _p88. |
| 970 | 1 | 2 |
_tEconomic scope and functions of government, _p89. |
| 970 | 1 | 1 |
_tPromotion and regulation of the private sector, _p89. |
| 970 | 1 | 1 |
_tProvision of social goods, _p89. |
| 970 | 1 | 1 |
_tConclusion: achieving efficiency through the market, _p90. |
| 970 | 1 | 2 |
_tSpillovers, market failure, and public choice, _p91. |
| 970 | 1 | 1 |
_tRedressing spillovers, _p91. |
| 970 | 1 | 1 |
_tDealing with international spillovers, _p93. |
| 970 | 1 | 1 |
_tConclusion: efficiency and public choice, _p93. |
| 970 | 1 | 2 |
_tPublic-sector budgeting, _p94. |
| 970 | 1 | 1 |
_tPublic overspending and public choice, _p94. |
| 970 | 1 | 1 |
_tScope of government in different countries, _p96. |
| 970 | 1 | 2 |
_tOur tax system, _p96. |
| 970 | 1 | 1 |
_tTaxes on income, _p97. |
| 970 | 1 | 1 |
_tTaxes on wealth, _p100. |
| 970 | 1 | 1 |
_tTaxes on activities, _p100. |
| 970 | 1 | 1 |
_tAn international comparison of tax systems, _p100. |
| 970 | 1 | 2 |
_tTheories of taxation, _p101. |
| 970 | 1 | 1 |
_tPrinciples of tax equity, _p101. |
| 970 | 1 | 1 |
_tReal-world compromise: three classes of tax rates, _p102. |
| 970 | 1 | 1 |
_tTax shifting and incidence direct and indirect taxes, _p103. |
| 970 | 1 | 2 |
_tCompleting the circularflow model, _p104. |
| 970 | 1 | 2 |
_tOrigins: government in the economy, _p104. |
| 970 | 1 | 1 |
_tHigher education: should government subsidize it?, _p108. |
| 970 | 1 | 2 |
_tPart 2 The macroeconomy, _p111. |
| 970 | 1 | 2 |
_tMeasuring the nation's income: gross domestic product and gross national product, _p112. |
| 970 | 1 | 2 |
_tGDP and GNP, _p112. |
| 970 | 1 | 1 |
_tAggregate output-aggregate income, _p113. |
| 970 | 1 | 1 |
_tUnderstanding net foreign factor income, _p114. |
| 970 | 1 | 1 |
_tWhich measure do we use?, _p114. |
| 970 | 1 | 1 |
_tDistinguishing between nominal and real data, _p115. |
| 970 | 1 | 2 |
_tNational income accounting, _p117. |
| 970 | 1 | 1 |
_tAvoid double counting, _p117. |
| 970 | 1 | 1 |
_tInclude productive activities exclude nonproductive ones, _p118. |
| 970 | 1 | 2 |
_tIs GDP a measure of society's well-being?, _p119. |
| 970 | 1 | 1 |
_tGross domestic "disproduct", _p120. |
| 970 | 1 | 1 |
_tOther exlusions from GDP, _p120. |
| 970 | 1 | 1 |
_tConclusion: GDP and social welfare, _p120. |
| 970 | 1 | 2 |
_tTwo ways of looking at GDP, _p121. |
| 970 | 1 | 1 |
_tGDP from the expendutiture viewpoint: a flow-of-product approach, _p121. |
| 970 | 1 | 1 |
_tGDP from the income viewpoint: a flow-of-costs approach, _p124. |
| 970 | 1 | 2 |
_tExamining the nation's income statement, _p125. |
| 970 | 1 | 1 |
_tGross domestic product to net domestic product, _p125. |
| 970 | 1 | 1 |
_tNet domestic product to national income, _p126. |
| 970 | 1 | 1 |
_tNational income to personal income, _p126. |
| 970 | 1 | 1 |
_tPersonal income to disposable personal income, _p126. |
| 970 | 1 | 2 |
_tGlobal perspective: international comparisons of aggregate income, _p129. |
| 970 | 1 | 2 |
_tOrigins: how national income accounting came about, _p129. |
| 970 | 1 | 1 |
_tKuznets. father of national income accounting, _p129. |
| 970 | 1 | 1 |
_tStone: international systematizer, _p130. |
| 970 | 1 | 1 |
_tMany honors, _p130. |
| 970 | 1 | 1 |
_tGross domestic product: does it measure economic welfare?, _p134. |
| 970 | 1 | 2 |
_tMonitoring the economy: business cycles, unemployment, and inflation, _p136. |
| 970 | 1 | 2 |
_tBusiness cycles: a long history of fluctuations, _p137. |
| 970 | 1 | 1 |
_tOutput, employment and price fluctuations during business cycles, _p138. |
| 970 | 1 | 1 |
_tTracking the economy, _p139. |
| 970 | 1 | 1 | _tEconomics in the news. |
| 970 | 1 | 1 |
_tWhy economicsts miss the mark, _p140. |
| 970 | 1 | 1 |
_tThe challegne: reduce instability, _p140. |
| 970 | 1 | 2 |
_tUnemployment, _p141. |
| 970 | 1 | 1 |
_tTypes of unemployment, _p142. |
| 970 | 1 | 1 |
_tUnemployment or underemployment: are they the same?, _p142. |
| 970 | 1 | 1 |
_tMeasuring unemployment?, _p143. |
| 970 | 1 | 1 |
_tFull employment and "natural" unemployment, _p143. |
| 970 | 1 | 1 |
_tCosts of unemployment, _p144. |
| 970 | 1 | 2 |
_tInflation, _p145. |
| 970 | 1 | 1 |
_tTypes of inflation: is our nation inflation-prone?, _p145. |
| 970 | 1 | 1 |
_tWho loses from inflation? Who gains, _p145. |
| 970 | 1 | 1 |
_tWhat is hyperinflation?, _p146. |
| 970 | 1 | 1 |
_tMeasuring inflation: the declining value of money, _p146. |
| 970 | 1 | 1 |
_tConclusion: the need for price stability, _p148. |
| 970 | 1 | 2 |
_tInternational transmissions of business of cycles, _p148. |
| 970 | 1 | 2 |
_tOrigins: econometric modelling of business of cycles, _p150. |
| 970 | 1 | 1 |
_tThe economic approach, _p151. |
| 970 | 1 | 1 |
_tForecasting and simulating, _p151. |
| 970 | 1 | 1 |
_tBusiness cycles or business chaos?, _p151. |
| 970 | 1 | 1 |
_tUnemployment: shoul we care?, _p154. |
| 970 | 1 | 2 |
_tThe self-correcting economy: aggregate demand and aggregate supply, _p156 |
| 970 | 1 | 2 |
_tDemand and supply: micro foundations of macroeconomics, _p157. |
| 970 | 1 | 1 |
_tMarket clearing: flexible versus sticky prices, _p157. |
| 970 | 1 | 1 |
_tPrice flexibility and market competition, _p158. |
| 970 | 1 | 2 |
_tEarly classical macroeconomics, _p158. |
| 970 | 1 | 1 |
_tAggregate expenditure=aggregate income or output, _p159. |
| 970 | 1 | 1 |
_tAll savings are invested, _p160. |
| 970 | 1 | 1 |
_tAll prices are flexible, _p160. |
| 970 | 1 | 2 |
_tToday's macroeconomics, _p162. |
| 970 | 1 | 1 |
_tThe aggregate demand curve, _p162. |
| 970 | 1 | 1 |
_tThe long-run aggregate supply curve, _p163. |
| 970 | 1 | 1 |
_tCombining the curve, _p164. |
| 970 | 1 | 1 |
_tWhat about the short run?, _p164. |
| 970 | 1 | 2 |
_tShifts on the curves, _p167. |
| 970 | 1 | 1 |
_tChanges in aggregate demand, _p167. |
| 970 | 1 | 1 |
_tChanges in aggregate supply, _p168. |
| 970 | 1 | 1 |
_tSumming up, _p169. |
| 970 | 1 | 2 |
_tInflationary and recessionary gaps, _p169. |
| 970 | 1 | 1 |
_tConclusions: closing the gaps; self-correcting adjustments, _p170. |
| 970 | 1 | 2 |
_tOrigins: early classical economists, _p171. |
| 970 | 1 | 1 |
_tJean Baptiste say, _p172. |
| 970 | 1 | 1 |
_tDavid Ricardo, _p172. |
| 970 | 1 | 1 | _tTake a Stand. |
| 970 | 1 | 1 |
_tEconomic recessions: are they inevilable?, _p174. |
| 970 | 1 | 2 |
_tProductivity and economic growth: increases in long-run aggregate supply, _p176. |
| 970 | 1 | 2 |
_tWhat is productivity?, _p176. |
| 970 | 1 | 1 |
_tTwo measures of productivity, _p177. |
| 970 | 1 | 1 |
_tSearching for the right measure, _p178. |
| 970 | 1 | 1 |
_tDecreases in productivity, _p179. |
| 970 | 1 | 1 |
_tStimulating productivity for economic growth, _p180. |
| 970 | 1 | 1 |
_tComparisons of productivity, _p180. |
| 970 | 1 | 2 |
_tWhat is economic growth?, _p182. |
| 970 | 1 | 1 |
_tMeasuring economic growth, _p184. |
| 970 | 1 | 2 |
_tWhat determines economic growth?, _p184. |
| 970 | 1 | 1 |
_tQuantity and quality of human resources, _p184. |
| 970 | 1 | 1 |
_tQuantity and quality of "natural" resoruces (land), _p185. |
| 970 | 1 | 1 |
_tAccumulation of capital, _p185. |
| 970 | 1 | 1 |
_tSpecialization and scale of production, _p185. |
| 970 | 1 | 1 | _tEconomics on the news. |
| 970 | 1 | 1 |
_tHow well off are we?, _p186. |
| 970 | 1 | 1 |
_tRate of technological progress, _p187. |
| 970 | 1 | 1 |
_tEnvironmental factors, _p187. |
| 970 | 1 | 1 |
_tConclusion: the problem of measurement, _p187. |
| 970 | 1 | 1 |
_tTechnological progress: classic examples in America's early development, _p188. |
| 970 | 1 | 2 |
_tInternational comparisons and growth targets, _p189. |
| 970 | 1 | 1 |
_tComparative growth rates, _p189. |
| 970 | 1 | 1 |
_tTargeting growth, _p191. |
| 970 | 1 | 2 |
_tThe classical explanation of growth: how economics became the "dismal science", _p193. |
| 970 | 1 | 1 |
_tThe subsistence theory and diminishing returns, _p193. |
| 970 | 1 | 1 |
_tThe malthusian specter, _p194. |
| 970 | 1 | 1 |
_tConclusion: the classical view of growth, _p196. |
| 970 | 1 | 2 |
_tOrigins: the ghost of malthus, _p197. |
| 970 | 1 | 1 |
_tWide influence, _p197. |
| 970 | 1 | 1 |
_tEffective demand, _p197. |
| 970 | 1 | 1 |
_tThe productivity slowdown: need we worry?, _p200. |
| 970 | 1 | 2 |
_tMonetary economics: money, banking, and monetary policy, _p203. |
| 970 | 1 | 2 |
_tMoney, financial markets, and the banking system, _p204. |
| 970 | 1 | 2 |
_tMeaning and functions of money, _p204. |
| 970 | 1 | 1 |
_tMedium of exchange, _p205. |
| 970 | 1 | 1 |
_tMeasure of value, _p205. |
| 970 | 1 | 1 |
_tStandard of deferred payments, _p205. |
| 970 | 1 | 1 |
_tStore of value, _p205. |
| 970 | 1 | 2 |
_tMeasuring money, _p206. |
| 970 | 1 | 1 |
_tM1: narrow transactions money the basic money supply, _p206. |
| 970 | 1 | 1 |
_tM2: medium-range money, _p206. |
| 970 | 1 | 1 |
_tM3: wide-range money, _p208. |
| 970 | 1 | 1 |
_tL: liquid and near-liquid assets, _p208. |
| 970 | 1 | 1 |
_tConclusion: money is a spectrum of assets, _p208. |
| 970 | 1 | 2 |
_tFinancial markets, _p209. |
| 970 | 1 | 1 |
_tThe money market, _p209. |
| 970 | 1 | 1 |
_tThe capital market, _p211. |
| 970 | 1 | 1 |
_tEconomic functions of money and capital markets, _p211. |
| 970 | 1 | 1 |
_tThe foreign exchange market, _p211. |
| 970 | 1 | 2 |
_tThe federal reserve system, _p215. |
| 970 | 1 | 1 |
_tObjectives, organization and functions, _p215. |
| 970 | 1 | 1 |
_tSumming up: functions of a central bank, _p217. |
| 970 | 1 | 1 |
_tLooking abroad: what will Europe learn from the fed?, _p217. |
| 970 | 1 | 2 |
_tOrganization of the banking system, _p218. |
| 970 | 1 | 1 |
_tBanking supervision: a regulatory thicket, _p218. |
| 970 | 1 | 1 |
_tDeposit insurance: protecting your money, _p218. |
| 970 | 1 | 1 |
_t"Nonbank banks": do we need banks anymore?, _p219. |
| 970 | 1 | 1 |
_tElectronic funds transfer: will we become a cashless society?, _p222. |
| 970 | 1 | 2 |
_tBanking institutions: money creation and portfolio management, _p224. |
| 970 | 1 | 2 |
_tThe fundamental principle of deposit banking, _p224. |
| 970 | 1 | 1 |
_tProportions of currency and chelckable deposits, _p225. |
| 970 | 1 | 1 |
_tThe goldsmith's principle and fractional bank reserves, _p225. |
| 970 | 1 | 2 |
_tBanks' balance sheets and reserves, _p225. |
| 970 | 1 | 1 |
_tLegal reserves, _p226. |
| 970 | 1 | 2 |
_tDeposit expansion by a single bank, _p227. |
| 970 | 1 | 2 |
_tDeposit expansion by the banking system, _p228. |
| 970 | 1 | 1 |
_tThe deposit multiplier, _p229. |
| 970 | 1 | 1 |
_tConditions that modify the expansion of deposits, _p231. |
| 970 | 1 | 1 |
_tThe money multiplier, _p231. |
| 970 | 1 | 2 |
_tManaging a bank's portfolio, _p232. |
| 970 | 1 | 1 |
_tObjectives: liquidity, profitability, and safety, _p232. |
| 970 | 1 | 1 |
_tThe conflict between liquidity and profitability, _p233. |
| 970 | 1 | 1 |
_tAsset management: priorities for allocating bank funds, _p234. |
| 970 | 1 | 1 |
_tConclusion: types of bank investments, _p234. |
| 970 | 1 | 2 |
_tBank failures: when fractional-reserve banking goes bad, _p235. |
| 970 | 1 | 1 |
_tCauses of bank and S&L failures, _p235. |
| 970 | 1 | 1 |
_tConsequences of Bank and S&L failures, _p236. |
| 970 | 1 | 2 |
_tOrigins: portfolio management, _p236. |
| 970 | 1 | 1 |
_tDiversification principle, _p236. |
| 970 | 1 | 1 |
_tCapital asset pricing model, _p238. |
| 970 | 1 | 1 |
_tImplications for investment practices, _p238. |
| 970 | 1 | 1 |
_tBanks: can they be "too big to fail"?, _p244. |
| 970 | 1 | 2 |
_tCentral banking: federal reserve monetary policy, _p246. |
| 970 | 1 | 2 |
_tMajor controls, _p247. |
| 970 | 1 | 1 |
_tChanging reserve ratios, _p247. |
| 970 | 1 | 1 |
_tChanging the discount rate, _p248. |
| 970 | 1 | 1 |
_tOpen-market operations, _p250. |
| 970 | 1 | 2 |
_tMinor controls, _p252. |
| 970 | 1 | 1 |
_tForeign exchange market intervation, _p252. |
| 970 | 1 | 1 |
_tMargin regulations, _p252. |
| 970 | 1 | 1 |
_tMoral suasion, _p253. |
| 970 | 1 | 2 |
_tHow monetary policy affects interest rates and business investment, _p253. |
| 970 | 1 | 1 |
_tBond princes and bond yields, _p254. |
| 970 | 1 | 1 |
_tOpen-market operations and interest rates, _p255. |
| 970 | 1 | 1 |
_tInterest rates and investment, _p256. |
| 970 | 1 | 1 |
_tInternational effects of monetary policy, _p257. |
| 970 | 1 | 2 |
_tEvaluting monetary policy, _p258. |
| 970 | 1 | 1 |
_tReserve requirements, _p258. |
| 970 | 1 | 1 |
_tDiscount rate, _p259. |
| 970 | 1 | 1 |
_tOpen-market operations, _p259. |
| 970 | 1 | 1 |
_tLimitations of monetary policy, _p260. |
| 970 | 1 | 1 |
_tIs the fed too independent? A recurring question, _p261. |
| 970 | 1 | 1 |
_tConclusion: continuing importance, _p262. |
| 970 | 1 | 2 |
_tMonetary theory: relationships among money, interest rates, and prices, _p264. |
| 970 | 1 | 2 |
_tThe money supply affects output and prices, _p265. |
| 970 | 1 | 1 |
_tEquation of exchange, _p265. |
| 970 | 1 | 1 |
_tThe quantily theory of money, _p266. |
| 970 | 1 | 1 |
_tWhat the evidence shows, _p266. |
| 970 | 1 | 1 |
_tModernizing the quantity theory: the importance of velocity, _p267. |
| 970 | 1 | 2 |
_tDetermination of the interest rate, _p267. |
| 970 | 1 | 1 |
_tClassical explanation of interest, _p268. |
| 970 | 1 | 1 |
_tBroadening the explanation: the loanable-funds theory of interest, _p269. |
| 970 | 1 | 1 |
_tDeriving the real interest rate: a modern view, _p272. |
| 970 | 1 | 1 |
_tConclusion: prices and interest rates move together, _p273. |
| 970 | 1 | 2 |
_tThe propositions of monetarism, _p273. |
| 970 | 1 | 1 |
_tThe quantity theory of money revisited, _p274. |
| 970 | 1 | 1 |
_tDemand for money, _p275. |
| 970 | 1 | 1 |
_tThe stability of velocity, _p277. |
| 970 | 1 | 1 |
_tThe transmission mechanism: portfolio adjustments, _p277. |
| 970 | 1 | 2 |
_tThe monetarist view of monetary policy, _p278. |
| 970 | 1 | 1 |
_tPolicy recommendation: rules, not discretion, _p280. |
| 970 | 1 | 1 |
_tTargets and indicators, _p280. |
| 970 | 1 | 1 |
_tLong-run expected price level (P'), _p282. |
| 970 | 1 | 1 |
_tSumming up: monetarism today, _p284. |
| 970 | 1 | 2 |
_tOrigins: how monetarism evolved, _p285. |
| 970 | 1 | 1 |
_tFisher: the first monetarist, _p285. |
| 970 | 1 | 1 |
_tFriedman: America's best-known monetarist, _p286. |
| 970 | 1 | 2 |
_tPart 4 unemployment, fiscal policy, and macroeconomic equilibrium, _p291. |
| 970 | 1 | 2 |
_tLapses from full employment: the basic keynesian model, _p292. |
| 970 | 1 | 2 |
_tThe keynesian response to classical theory, _p293. |
| 970 | 1 | 1 |
_tAggregate expenditure maay not equal full-employment aggregate income, _p293. |
| 970 | 1 | 1 |
_tSavers and investors are different people with different motivations, _p293. |
| 970 | 1 | 1 |
_tMany prices and wages are sticky, _p294. |
| 970 | 1 | 1 |
_tModern keynesian conclusion: self-correction may take a long time, _p295. |
| 970 | 1 | 2 |
_tConsumption expenditure, _p295. |
| 970 | 1 | 1 |
_tThe propensity to consume, _p295. |
| 970 | 1 | 1 |
_tThe propensity to save, _p297. |
| 970 | 1 | 1 |
_tAverage propensities to consume and to save, _p297. |
| 970 | 1 | 1 |
_tMarginal propensities to consume and to save, _p298. |
| 970 | 1 | 1 |
_tTwo kinds of changes involving consumption, _p299. |
| 970 | 1 | 2 |
_tPrivate investment expenditure, _p300. |
| 970 | 1 | 1 |
_tUnderstanding the MEI, _p300. |
| 970 | 1 | 1 |
_tCost of funds: the rate of interest, _p302. |
| 970 | 1 | 1 |
_tThe MEI and the cost of funds, _p302. |
| 970 | 1 | 1 |
_tDeterminants of the MEI: shifts of the curve, _p302. |
| 970 | 1 | 2 |
_tGovernment expenditure and net foreign expenditure, _p304. |
| 970 | 1 | 1 |
_tConclusion: reviewing the basic relationships, _p304. |
| 970 | 1 | 2 |
_tThe income-expenditure model, _p306. |
| 970 | 1 | 1 |
_tStructure of the model, _p306. |
| 970 | 1 | 1 |
_tThe equilibrium level of income and employment, _p308. |
| 970 | 1 | 1 |
_tInjections and withdrawals: the "Bathhub theorem", _p309. |
| 970 | 1 | 2 |
_tOrigins: keynesian economics, _p310. |
| 970 | 1 | 1 |
_tMany-sided genius, _p310. |
| 970 | 1 | 1 |
_tUnconventional ideas, _p310. |
| 970 | 1 | 1 |
_tIras: do they promote household saving?, _p314. |
| 970 | 1 | 2 |
_tIncome and employment determination: extending macroeconomic principles, _p316. |
| 970 | 1 | 2 |
_tThe multiplier principle, _p317. |
| 970 | 1 | 1 |
_tNumerical illustration, _p317. |
| 970 | 1 | 1 |
_tGraphic illustration, _p318. |
| 970 | 1 | 1 |
_tAlgebraic illustration, _p318. |
| 970 | 1 | 2 |
_tCompleting the income-expenditure model, _p319. |
| 970 | 1 | 1 |
_tComponents of aggregate expenditure, _p321. |
| 970 | 1 | 1 |
_tInflationary and recessionary gaps, _p321. |
| 970 | 1 | 1 |
_tConclusion: understanding business cycles, _p322. |
| 970 | 1 | 2 |
_tThe income-price model: accomodating two views, _p323. |
| 970 | 1 | 1 |
_tReviewing the basic concepts, _p323. |
| 970 | 1 | 1 |
_tInterpreting keynes with an income-price model, _p324. |
| 970 | 1 | 1 |
_tConclusion: short-run determinants are important, _p326. |
| 970 | 1 | 2 |
_tImplications of a varying price level, _p326. |
| 970 | 1 | 1 |
_tLinking the income-expenditure and income -price models, _p327. |
| 970 | 1 | 1 |
_tMultiplier effects, _p328. |
| 970 | 1 | 1 |
_tConclusion: different-sized multipliers, _p328. |
| 970 | 1 | 1 |
_tInternational aspects: the open-economy multiplier, _p329. |
| 970 | 1 | 1 |
_tJust-in-time inventory management: will it reduce recession?, _p332. |
| 970 | 1 | 2 |
_tTaxing, government spending, and the new fiscal policy, _p334. |
| 970 | 1 | 2 |
_tFederal budget management: sources and uses of funds, _p335. |
| 970 | 1 | 1 |
_tWhere the money comes from, _p335. |
| 970 | 1 | 1 |
_tWhere the money goes, _p336. |
| 970 | 1 | 1 |
_tConclusion: budget management and fiscal policy, _p336. |
| 970 | 1 | 2 |
_tThe theory of fiscal policy, _p336. |
| 970 | 1 | 1 |
_tHistorical background: keynesian foundations, _p336. |
| 970 | 1 | 1 |
_tNondiscretionary controls: self-correction, _p337. |
| 970 | 1 | 1 |
_tDiscreationary fiscal policy, _p339. |
| 970 | 1 | 1 |
_tConclusion: mixed effects, _p340. |
| 970 | 1 | 2 |
_tProblems of fiscal policy, _p341. |
| 970 | 1 | 1 |
_tMaking policy decisions: choices, forecasting, and timing, _p341. |
| 970 | 1 | 1 |
_tPredicting price-level effects, _p342. |
| 970 | 1 | 1 |
_tRestrictive effect: crowding out, _p342. |
| 970 | 1 | 1 |
_tCoordinating fiscal and monetary policy, _p343. |
| 970 | 1 | 1 |
_tPublic-choice problem: political business cycless, _p344. |
| 970 | 1 | 1 |
_tConclusion: some successes and failures, _p344. |
| 970 | 1 | 2 |
_tFiscal policy and supply-side economics, _p345. |
| 970 | 1 | 1 |
_tRejection of keynesian demand-management policies, _p345. |
| 970 | 1 | 1 |
_tTax cuts to stimulate production, _p346. |
| 970 | 1 | 1 |
_tNonmonetization of government deficits, _p348. |
| 970 | 1 | 1 |
_tConclusion: the new fiscal policy, _p349. |
| 970 | 1 | 2 | _tTake a stand. |
| 970 | 1 | 1 |
_tA balanced budget amendment: is it a good idea?, _p352. |
| 970 | 0 | 1 | _tSupplement. |
| 970 | 1 | 2 |
_tFiscal-policy multipliers in the keynesian income-expenditure model, _p354. |
| 970 | 1 | 2 |
_tThe expenditure multiplier, _p354. |
| 970 | 1 | 2 |
_tThe tax multiplier, _p355. |
| 970 | 1 | 2 |
_tSimultaneous changes, _p356. |
| 970 | 1 | 2 |
_tThe balanced budget multiplier, _p356. |
| 970 | 1 | 2 |
_tSummarizing with three simple formulas, _p356. |
| 970 | 1 | 2 |
_tDoes the balanced budget multiplier work?, _p357. |
| 970 | 1 | 1 |
_tKeynes's legacy: fiscal-policy alternatives, _p359. |
| 970 | 1 | 2 |
_tMoney, interest, and macroeconomic equilibrium, _p360. |
| 970 | 1 | 2 |
_tDetermination of the interest rate, _p360. |
| 970 | 1 | 1 |
_tWhat's meant by "the" interest rate?, _p361. |
| 970 | 1 | 1 |
_tClassical explanation: loanable-funds theory of interest, _361. |
| 970 | 1 | 1 |
_tKeynesian explanation: liquidity preference theory of interest, _p362. |
| 970 | 1 | 1 |
_tPractical implications: interest rates and business investment, _p366. |
| 970 | 1 | 1 |
_tConclusion: interest rates-a continuing concern, _p368. |
| 970 | 1 | 2 |
_tKeynesian macroeconomic theory: putting the pieces together, _p368. |
| 970 | 1 | 1 |
_tOutline of the keynesian theory, _p368. |
| 970 | 1 | 1 |
_tIntegrating some basic relationships, _p369. |
| 970 | 1 | 1 |
_tConclusion: policy-activism choices, _p370. |
| 970 | 1 | 2 |
_tOrigins: how the keynesian revolution came to America, _p371. |
| 970 | 1 | 1 |
_tHicks: the other keynes, _p371. |
| 970 | 1 | 1 |
_tHansen: the American keynes, _p371. |
| 970 | 1 | 2 |
_tPart 5 macroeconomics today: ideas, issues, and policies, _p375. |
| 970 | 1 | 2 |
_tToday's macroeconomic theories: explaining business cycles, _p376. |
| 970 | 1 | 2 |
_tKeynesian economics, _p387. |
| 970 | 1 | 1 |
_tA theory of unemployment, _p378. |
| 970 | 1 | 2 |
_tMonetarism, _p379. |
| 970 | 1 | 1 |
_tThe transmission mechanism, _p380. |
| 970 | 1 | 1 |
_tVelocity of money, _p380. |
| 970 | 1 | 1 |
_tSelf-correction, _p380. |
| 970 | 1 | 2 |
_tRational expectations theory, _p381. |
| 970 | 1 | 1 |
_tWhat are rational expectations?, _p381. |
| 970 | 1 | 1 |
_tFour propostions of rational expectations theory, _p382. |
| 970 | 1 | 1 |
_tComparing rational expectations to other theories, _p383. |
| 970 | 1 | 1 |
_tPolicy implications, _p384. |
| 970 | 1 | 1 |
_tExternal-debt burden: do we "owe it to otherselves"?, _p412. |
| 970 | 1 | 1 |
_tInflationary burden: do deficits cause rising prices and interest rates?, _p414. |
| 970 | 1 | 1 |
_tConclusions: practical debt-management guidelines, _p414. |
| 970 | 1 | 2 |
_tUnderstanding trade deficits, _p415. |
| 970 | 1 | 1 |
_tThe trade balance, _p415. |
| 970 | 1 | 1 |
_tReal aggregate income and the trade balance, _p416. |
| 970 | 1 | 1 |
_tRelative price levels and the trade balance, _p417. |
| 970 | 1 | 1 |
_tForeign exchange rates and the trade balance, _p417. |
| 970 | 1 | 2 |
_tUnderstanding international indebtedness, _p419. |
| 970 | 1 | 1 |
_tWhat does it mean to be a debtor nation?, _p419. |
| 970 | 1 | 1 |
_tChanges in debtor and creditor status, _p420. |
| 970 | 1 | 1 |
_tQuestions concerning international indebtedness, _p421. |
| 970 | 1 | 2 |
_tConclusion: policy options for reducing trade deficts and foreign debt, _p422. |
| 970 | 1 | 1 |
_tTight fiscal policy, _p422. |
| 970 | 1 | 1 |
_tEasy monetary policy, _p423. |
| 970 | 1 | 1 |
_tEasy foreign fiscal-monetary policies, _p423. |
| 970 | 1 | 1 |
_tThe trade deificit: is it result of the budget deficit?, _p426. |
| 970 | 1 | 2 |
_tInternational macroeconomics: recent developments in the global economy, _p428. |
| 970 | 1 | 2 |
_tEconomic integration, _p429. |
| 970 | 1 | 1 |
_tTrade protection, _p429. |
| 970 | 1 | 1 |
_tTrade liberalization and regional integration, _p430. |
| 970 | 1 | 2 |
_tThe United States of Europe?, _p432. |
| 970 | 1 | 1 |
_tObstacles to integration, _p433. |
| 970 | 1 | 1 |
_tAnalyzing the effects of integration, _p434. |
| 970 | 1 | 1 |
_tMonetary and fiscal unification, _p435. |
| 970 | 1 | 1 |
_tConclusion: regional trading blocs, _p436. |
| 970 | 1 | 2 |
_tInternational banking and financial markets, _p437. |
| 970 | 1 | 1 |
_tStructure of international financial markets, _p437. |
| 970 | 1 | 1 |
_tEurocurrencies, _p438. |
| 970 | 1 | 1 |
_tMacroeconomic effects of eurocurrency growth, _p439. |
| 970 | 1 | 2 |
_tToday's international macroeconomic policy issues, _p439. |
| 970 | 1 | 1 |
_tInternational trade, _p440. |
| 970 | 1 | 1 |
_tInternational finance, _p441 |
| 970 | 1 | 1 |
_tWhat future for global financing?, _p442. |
| 970 | 1 | 1 |
_tRegional trading groups: do they promote global integration?, _p444. |
| 970 | 1 | 2 |
_tPart 6 demand and supply: utility, production, and cost, _p447. |
| 970 | 1 | 2 |
_tElasticity: working with demand and supply, _p448. |
| 970 | 1 | 2 |
_tThe concept of elasticity: responsiveness to changes in price, _p448. |
| 970 | 1 | 1 |
_tMeasuring elasticity, _p450. |
| 970 | 1 | 1 |
_tVisualizing elasticities from graphs, _p452. |
| 970 | 1 | 2 |
_tElasticity of demand and total revenue, _p454. |
| 970 | 1 | 1 |
_tRanges of elasticity, _p454. |
| 970 | 1 | 1 |
_tThinking geometrically: "reading the curves", _p454. |
| 970 | 1 | 1 |
_tAre you a credit card junkie?, _p454. |
| 970 | 1 | 2 |
_tWhat determines elasticity?, _p458. |
| 970 | 1 | 1 |
_tSubstitules, _p458. |
| 970 | 1 | 1 |
_tInexpensiveness, _p458. |
| 970 | 1 | 1 |
_tTime, _p458. |
| 970 | 1 | 2 |
_tModels of demand and supply, _p459. |
| 970 | 1 | 1 |
_tPrice fixing by law, _p459. |
| 970 | 1 | 1 |
_tWho "pays" for rent control?, _p461. |
| 970 | 1 | 1 |
_tEffects of specific taxes and subsidies, _p462. |
| 970 | 1 | 2 |
_tOrigins: the great synthesizer, _p464. |
| 970 | 1 | 1 |
_tMajor contributions, _p465. |
| 970 | 1 | 1 |
_tElasticity, _p465. |
| 970 | 1 | 1 |
_tCeteris paribus, _p465. |
| 970 | 1 | 1 |
_tEnduring structure, _p465. |
| 970 | 1 | 1 |
_tSin taxes: are they desirable?, _p468. |
| 970 | 1 | 2 |
_tIncome and cross elasticity: further applications of demand and supply, _p470. |
| 970 | 1 | 1 |
_tMeasurement and interpretation, _p471. |
| 970 | 1 | 1 |
_tRole of income elasticity in economic development, _p472. |
| 970 | 1 | 2 |
_tCross elasticity of demand, _p474. |
| 970 | 1 | 1 |
_tMeasurement and interpretation, _p474. |
| 970 | 1 | 1 |
_tCross elasticity in antitrust cases, _p477. |
| 970 | 1 | 2 |
_tSome warning notes on assumptions, _p478. |
| 970 | 1 | 1 |
_tSimplification versus complexity, _p478. |
| 970 | 1 | 1 |
_tStatic models versus dynamic reality, _p479. |
| 970 | 1 | 1 |
_tDemand, supply, and price, _p479. |
| 970 | 1 | 1 |
_tThe price system as a rationing (allocative) mechanism, _p479. |
| 970 | 1 | 1 |
_tEngel's law: does it apply to manufacturing?, _p482. |
| 970 | 1 | 2 |
_tLooking behind demand: utility and consumer demand, _p484. |
| 970 | 1 | 2 |
_tExplaining consumer demand, _p484. |
| 970 | 1 | 1 |
_tThe meaning of utility, _p485. |
| 970 | 1 | 1 |
_tConsumer equilibrium, _p487. |
| 970 | 1 | 1 |
_tMarginal utility and demand curves, _p488. |
| 970 | 1 | 2 |
_tConsumer's surplus, _p489. |
| 970 | 1 | 2 |
_tThe diamond-water paradox, _p490. |
| 970 | 1 | 1 |
_tMarginalists' explanation, _p490. |
| 970 | 1 | 1 |
_tDecisions at the margin, _p492. |
| 970 | 1 | 2 |
_tAn income distribution problem, _p492. |
| 970 | 1 | 1 |
_tAssumption 1: marginal-utility curves are known, _p492. |
| 970 | 1 | 1 |
_tAssumption 2: marginal-utility curves are unknown, _p494. |
| 970 | 1 | 1 |
_tThe argument for equality, _p494. |
| 970 | 1 | 2 |
_tTwo major shortcomings of utility theory, _p495. |
| 970 | 1 | 2 |
_tOrigins: utility theory, _p495. |
| 970 | 1 | 1 |
_tJeremy Bentham: the greatest happiness, _p495. |
| 970 | 1 | 1 |
_tWilliam Stanley Jevons: marginal-utility theorist, _p496. |
| 970 | 1 | 1 |
_tAdvertising: does it change consumer tastes?, _p500. |
| 970 | 1 | 2 |
_tIndifference curves, _p502. |
| 970 | 1 | 2 |
_tPrice lines: objective market conditions, _p502. |
| 970 | 1 | 1 |
_tMany possible price lines, _p503. |
| 970 | 1 | 2 |
_tIndifference curves: subjective consumer preferences, _p504. |
| 970 | 1 | 1 |
_tMarginal rate of substitution, _p505. |
| 970 | 1 | 1 |
_tMany possible indifference curves, _p506. |
| 970 | 1 | 1 |
_tDo rats have indifference curves?, _p507. |
| 970 | 1 | 2 |
_tThe equilibrium combination, _p507. |
| 970 | 1 | 2 |
_tWhat happens when income changes?, _p508. |
| 970 | 1 | 2 |
_tWhat happens when price changes?, _p509. |
| 970 | 1 | 2 |
_tDeriving a demand curve, _p510. |
| 970 | 1 | 2 |
_tConclusion: consumers' preferences tell the story, _p511. |
| 970 | 1 | 2 |
_tLooking behind supply: costs of production, _p512. |
| 970 | 1 | 2 |
_tThe production function, _p512. |
| 970 | 1 | 1 |
_tThe law of (eventually) diminishing returns, _p513. |
| 970 | 1 | 1 |
_tHow is the law interpreted?, _p514. |
| 970 | 1 | 2 |
_tUnderstanding cost, _p514. |
| 970 | 1 | 1 |
_tOutlay costs versus opportunity (alternative) costs, _p515. |
| 970 | 1 | 1 |
_tEconomic costs include normal profit, _p515. |
| 970 | 1 | 1 |
_tShort run and long run, _p517. |
| 970 | 1 | 2 |
_tShort-run costs, _p517. |
| 970 | 1 | 1 |
_tCost schedules and curves, _p517. |
| 970 | 1 | 1 |
_tThe average-marginal relationship, _p520. |
| 970 | 1 | 1 |
_tThe total-marginal relationship, _p521. |
| 970 | 1 | 2 |
_tLong-run costs, _p521. |
| 970 | 1 | 1 |
_tAlternative plant sizes, _p521. |
| 970 | 1 | 1 |
_tThe planning curve, _p523. |
| 970 | 1 | 1 |
_tEconomies and diseconomies of scale, _p524. |
| 970 | 1 | 1 |
_t"Economies of scale run amok", _p524. |
| 970 | 1 | 1 |
_tInternatl/external classification, _p524. |
| 970 | 1 | 1 |
_tConclusion: returns to scale and minimum efficient scale, _p525. |
| 970 | 1 | 2 |
_tPart 7 economics of the firm: price and output determination, _p533. |
| 970 | 1 | 2 |
_tPerfect competition: criteria for evaluting competitive behavior, _p534. |
| 970 | 1 | 2 |
_tWhat is perfect competition?, _p535. |
| 970 | 1 | 1 |
_tLarge numbers of buyers and sellers, _p535. |
| 970 | 1 | 1 |
_tHomogeneous commodity, _p535. |
| 970 | 1 | 1 |
_tPerfect knowledge of market prices and quantities, _p536. |
| 970 | 1 | 1 |
_tNo discrimination, _p536. |
| 970 | 1 | 1 |
_tPerfect mobility of resources, _p536. |
| 970 | 1 | 1 |
_tIs perfect competition a fantasy?, _p536. |
| 970 | 1 | 2 |
_tCosts, revenues, and profit maximization in the short run, _p536. |
| 970 | 1 | 1 |
_tTotal cost and total revenue, _p537. |
| 970 | 1 | 1 |
_tMarginal cost and marginal revenue, _p538. |
| 970 | 1 | 1 |
_tInterpreting the MC=MR rule, _p540. |
| 970 | 1 | 1 |
_tAnalyzing short-run equilibrium: some simple geometric relationships, _p541. |
| 970 | 1 | 1 |
_tDeriving supply curves from marginal-cost curves, _p542. |
| 970 | 1 | 1 |
_tMinimizing short-run losses, _p543. |
| 970 | 1 | 2 |
_tLong-run equilibrium of a firm and industry, _p544. |
| 970 | 1 | 1 |
_tGraphic illustration of long-run equilibrium, _p545. |
| 970 | 1 | 1 |
_tThe long-run industry supply curve, _p546. |
| 970 | 1 | 2 |
_tAnalyzing equilibrium: a closer look, _p548. |
| 970 | 1 | 1 |
_tThe equilibrium conditions, _p548. |
| 970 | 1 | 2 |
_tEconomic goals: efficiency, equity, stability, growth, _p548. |
| 970 | 1 | 1 |
_tFavorable features of perfect competition, _p549. |
| 970 | 1 | 1 |
_tUnfavorable features of perfect competition, _p549. |
| 970 | 1 | 1 |
_tLife under perfect competition: on the dull side?, _p550. |
| 970 | 1 | 1 |
_tConclusion: self-correction, _p550. |
| 970 | 1 | 1 |
_tPerfect competition: is it used as an apology for real-world economic problems?, _p554. |
| 970 | 1 | 2 |
_tMonopoly behavior: the other end of the competitive spectrum, _p556. |
| 970 | 1 | 2 |
_tThe meaning of monopoly, _p557. |
| 970 | 1 | 1 |
_tWhat is monopoly?, _p557. |
| 970 | 1 | 1 |
_tSources and types of monopoly, _p557. |
| 970 | 1 | 1 |
_tEconomics in the news Europe's energy monopolies, _p558. |
| 970 | 1 | 2 |
_tPrice and output determination, _p558. |
| 970 | 1 | 1 |
_tCost and revenue schedules, _p559. |
| 970 | 1 | 1 |
_tLooking at the graphs, _p560. |
| 970 | 1 | 1 |
_tUsing the MC=MR principle: some simple geometric relationships, _, _p560. |
| 970 | 1 | 1 |
_tMarginal revenue is not price; marginal cost is not supply, _p562. |
| 970 | 1 | 1 |
_tDo monopolies earn "large" profits?, _p563. |
| 970 | 1 | 2 |
_tWhat's wrong with monopoly?, _p564. |
| 970 | 1 | 1 |
_tEfficiency: monopoly misallocates resources, _p564. |
| 970 | 1 | 1 |
_tEconomics in the news old monopoly, new competition, _p565. |
| 970 | 1 | 1 |
_tEquity: monopoly contributes to income inequality, _p566. |
| 970 | 1 | 1 |
_tGrowth: monopoly lacks incentives for innovation and progress, _p566. |
| 970 | 1 | 1 |
_tConclusion: what can be done about monopoly?, _p566. |
| 970 | 1 | 2 |
_tPrice discrimination, _p567. |
| 970 | 1 | 1 |
_t"Tapping" the demand curve, _p567. |
| 970 | 1 | 1 |
_tDumping, _p568. |
| 970 | 1 | 1 |
_tThe conditions for price discrimination, _p570 |
| 970 | 1 | 1 |
_tIs price discrimination legal?, _p570. |
| 970 | 1 | 1 |
_tEconomics in the news reducing monopoly power at home and abbroad, _p571. |
| 970 | 1 | 2 |
_tMonopolies in the global economy, _p572. |
| 970 | 1 | 1 |
_tAirlines: have they monopolized the skies?, _p576. |
| 970 | 1 | 2 |
_tImperfect competition: real-world competitive behavior, _p578. |
| 970 | 1 | 2 |
_tMonopolistic competition: many sellers, similar products, _p579. |
| 970 | 1 | 1 |
_tProduct differentation is a key factor, _p579. |
| 970 | 1 | 1 |
_tPrice and output determination, _p579. |
| 970 | 1 | 1 |
_tThe importance of selling costs, _p580. |
| 970 | 1 | 1 |
_tClearing up a misconception, _p581. |
| 970 | 1 | 1 |
_tIs adveryising "good" or "bad"?, _p581. |
| 970 | 1 | 1 |
_tMonopolistic competition and efficiency, _p582. |
| 970 | 1 | 1 |
_tConclusion: hotelling's paradox-more is less, _p583. |
| 970 | 1 | 2 |
_tOligopoly: competition among the few, _p583. |
| 970 | 1 | 1 |
_tSome characteristics of olligopolies, _p583. |
| 970 | 1 | 1 |
_tPrice and output determination: the kinked demand curve, _p584. |
| 970 | 1 | 1 |
_tOligopolies in collusion, _p585. |
| 970 | 1 | 1 |
_tSome characteristics of oligopolies, _p583. |
| 970 | 1 | 1 |
_tOligopolies in collusion, _p585. |
| 970 | 1 | 1 |
_tEconomics in the news, _p586. |
| 970 | 1 | 1 |
_tOligopoly price wars, _p587. |
| 970 | 1 | 1 |
_tCartels, _p589. |
| 970 | 1 | 1 |
_tIs the NCAA a cartel?, _p589. |
| 970 | 1 | 1 |
_tOligopoly and efficiency, _p589. |
| 970 | 1 | 1 |
_tConclusion: effective competition, _p591. |
| 970 | 1 | 2 |
_tDo firms really maximize profits?, _p591. |
| 970 | 1 | 1 |
_tDefinitional problems: which concept of profit?, _p591. |
| 970 | 1 | 1 |
_tMeasurement problems: which indicator or profit?, _p592. |
| 970 | 1 | 1 |
_tEconomic environmental conditions: reason for limiting profits, _p592. |
| 970 | 1 | 1 |
_tConclusion: maximize or "satisfice"?, _p593. |
| 970 | 1 | 2 |
_tOrigins: the coincident birth of monopolistic competition, _p593. |
| 970 | 1 | 1 |
_tMany similar ideas, _p594. |
| 970 | 1 | 1 |
_tAnd a few differences, _p594. |
| 970 | 1 | 1 |
_tDivergent paths, _p594. |
| 970 | 1 | 2 |
_tHiring the factors of production: marginal productivity and income distribution, _p598. |
| 970 | 1 | 2 |
_tMarginal-productivity theory: how the firm buys factors of production, _p598. |
| 970 | 1 | 1 |
_tPhysical inputs, outputs, and revenues, _p599. |
| 970 | 1 | 1 |
_tThe most profitable level of input: some simple geometric relationships, _p599. |
| 970 | 1 | 1 |
_tTwo important principles, _p602. |
| 970 | 1 | 2 |
_tDemand for inputs, _p602. |
| 970 | 1 | 1 |
_tChanges in demand, _p603. |
| 970 | 1 | 1 |
_tChanges in the quantity demanded: elasticity of demand for factor services, _p603. |
| 970 | 1 | 1 |
_tThe optimum allocation of inputs, _p603. |
| 970 | 1 | 1 |
_tExtension to imperfect competition, _p605. |
| 970 | 1 | 1 |
_tConclusion: economic efficiency, _p607. |
| 970 | 1 | 2 |
_tMarginal productivity, income distribution, and equity, _p607. |
| 970 | 1 | 2 |
_tOrigins: marginal-productivity theory and the law of income distribution, _p608. |
| 970 | 1 | 1 |
_tNatural law, _p608. |
| 970 | 1 | 1 |
_tMarginal analysis, _p608. |
| 970 | 1 | 1 |
_t"Marginalist school", _p609. |
| 970 | 1 | 1 |
_tExecutive compensation: are American CEO's overpaid?, _p612. |
| 970 | 1 | 2 |
_tDetermination of factor prices: wages, rent, interest, profit, _p614. |
| 970 | 1 | 2 |
_tTheory of wages, _p614. |
| 970 | 1 | 1 |
_tSome wage-determination models, _p615. |
| 970 | 1 | 1 |
_tConclusion: today's wage models, _p618. |
| 970 | 1 | 2 |
_tTheory of rent, _p618. |
| 970 | 1 | 1 |
_tThe meaning of economic rent, _p618. |
| 970 | 1 | 1 |
_tIs rent a cost or a surplus, _p620. |
| 970 | 1 | 2 |
_tTheory of interest, _p620. |
| 970 | 1 | 1 |
_tDemand for loanable funds, _p620. |
| 970 | 1 | 1 |
_tSupply for loanable funds, _p622. |
| 970 | 1 | 1 |
_tDetermination of the interest rate, _p622. |
| 970 | 1 | 1 |
_tConclusion: the allocating function of interest, _p622. |
| 970 | 1 | 2 |
_tTheory of profit, _p623. |
| 970 | 1 | 1 |
_tFriction and monopoly theory, _p623. |
| 970 | 1 | 1 |
_tUncertianty theory, _p624. |
| 970 | 1 | 1 |
_tInnovation theory, _p625. |
| 970 | 1 | 1 |
_tFunctions of profits, _p625. |
| 970 | 1 | 2 |
_tOrigins: the single tax and innovation profits, _p625. |
| 970 | 1 | 1 |
_tHenry George and the single tax, _p626. |
| 970 | 1 | 1 |
_tJoseph Schumpeter and innovation profits, _p627. |
| 970 | 1 | 1 |
_tLabor unions: do they have too much market power?, _p630. |
| 970 | 1 | 2 |
_tGeneral equilibrium: stability, welfare economics, and input-output analysis, _p632. |
| 970 | 1 | 2 |
_tStability of equilibria, _p632. |
| 970 | 1 | 1 |
_tStatics and dynamics, _p634. |
| 970 | 1 | 2 |
_tGeneral equilibrium: "Everything depends on everything else", _p636. |
| 970 | 1 | 1 |
_tPartial and general equilibrium, _p636. |
| 970 | 1 | 1 |
_tA general-equilibrium model: two goods, _p637. |
| 970 | 1 | 1 |
_tInterpendence and the circular flow, _p638. |
| 970 | 1 | 2 |
_tWelfare economics, _p639. |
| 970 | 1 | 1 |
_tPareto optimality, _p640. |
| 970 | 1 | 1 |
_tGeneral equilibrium and pareto optimality-economic efficiency and equity, _p640. |
| 970 | 1 | 1 |
_tImplications for social welfare, _p641. |
| 970 | 1 | 1 |
_tConclusion: norms of efficiency for welfare economics, _p642. |
| 970 | 1 | 2 |
_tInput-output analysis: a different view of equilibrium, _p642. |
| 970 | 1 | 1 |
_tIllustration of an input-output model, _p643. |
| 970 | 1 | 1 |
_tApplication to general equilibrium, _p644. |
| 970 | 1 | 1 |
_tUses and difficulties of the model, _p645. |
| 970 | 1 | 2 |
_tOrigins: the economy as a system, _p645. |
| 970 | 1 | 1 |
_tGeneral equilibrium and welfare economics: the lausanne school, _p645. |
| 970 | 1 | 1 |
_tContinuing influence of the lausanne school, _p646. |
| 970 | 1 | 2 |
_tPart 8 Microeconomics today: ideas: issues, and policies, _p651. |
| 970 | 1 | 2 |
_tIndustrial organization: structure, conduct, performance, _p632. |
| 970 | 1 | 2 |
_tMarket structure, _p653. |
| 970 | 1 | 1 |
_tSeller concentration, _p653. |
| 970 | 1 | 1 |
_tProduct differentiation, _p655. |
| 970 | 1 | 1 |
_tIs your college offering a differentiated product?, _p655. |
| 970 | 1 | 1 |
_tContestability of markets, _p656. |
| 970 | 1 | 1 |
_tConclusion: stability and interrelations, _p657. |
| 970 | 1 | 2 |
_tMarket conduct, _p657. |
| 970 | 1 | 1 |
_tPricing practices and policies, _p657. |
| 970 | 1 | 1 |
_tOther market practices and policies, _p658. |
| 970 | 1 | 1 |
_tResponse to foreign competition, _p660. |
| 970 | 1 | 1 |
_tEconomics in the news, exclusionary trade practices, _p661. |
| 970 | 1 | 1 |
_tConclusion: common behavioral patterns, _p662. |
| 970 | 1 | 2 |
_tMarket performance, _p663. |
| 970 | 1 | 1 |
_tEfficiency, _p663. |
| 970 | 1 | 1 |
_tEquity, _p664. |
| 970 | 1 | 1 |
_tStability, _p664. |
| 970 | 1 | 1 |
_tGrowth, _p665. |
| 970 | 1 | 1 |
_tOligopolies today, _p665. |
| 970 | 1 | 2 |
_tOrigins: A.A. cournot and industrial organization, _p665. |
| 970 | 1 | 1 |
_tMergers: are they good for the economy?, _p668. |
| 970 | 1 | 2 |
_tRegulation: market failure, antitrust, deregulation, _p670. |
| 970 | 1 | 2 |
_tRegulation, _p670. |
| 970 | 1 | 1 |
_tEconomic regulation, _p671. |
| 970 | 1 | 1 |
_tSocial regulation, _p671. |
| 970 | 1 | 1 |
_tIs that really a green bean? Ask the "poison squad", _p671. |
| 970 | 1 | 1 |
_tThe government's regulatory toolbox, _p672. |
| 970 | 1 | 1 |
_tRegulation: benefits and costs, _p673. |
| 970 | 1 | 2 |
_tMarket failure: the economic rationale for regulation, _p674. |
| 970 | 1 | 1 |
_tRegulating monopoly power, _p674. |
| 970 | 1 | 1 |
_tRegulating spillovers, _p675. |
| 970 | 1 | 1 |
_tRegulating imperfect information, _p675. |
| 970 | 1 | 1 |
_tThe counterargument: special interest groups, _p676. |
| 970 | 1 | 1 |
_tConclusion: idealism and reality, _p676. |
| 970 | 1 | 2 |
_tAntitrust policy, _p676. |
| 970 | 1 | 1 |
_tProvisions of antitrust laws, _p676. |
| 970 | 1 | 1 |
_tAntitrust trends, _p677. |
| 970 | 1 | 1 |
_tConclusion: antitrust today, _p679. |
| 970 | 1 | 1 |
_tEconomics in the news collegiate cartel, _p680. |
| 970 | 1 | 2 |
_tDeregulation, _p680. |
| 970 | 1 | 1 |
_tAirline deregulation, _p680. |
| 970 | 1 | 1 |
_tTelephone deregulation, _p681. |
| 970 | 1 | 1 |
_tConclusion: a call for re-regulation?, _p682. |
| 970 | 1 | 2 |
_tRegulation in the global economy, _p682. |
| 970 | 1 | 1 |
_tEffects of regulatory differences on international trade, _p682. |
| 970 | 1 | 1 |
_tInternational market failures, _p682. |
| 970 | 1 | 2 |
_tOrigins: the gadfly of regulation, _p683. |
| 970 | 1 | 1 |
_tBenefit-cost analysis: should it be used to evalute regulation?, _p686. |
| 970 | 1 | 2 |
_tPublic choice: social goods and the public sector, _p688. |
| 970 | 1 | 2 |
_tSocial goods and market failure, _p689. |
| 970 | 1 | 1 |
_tEfficient allocation, _p689. |
| 970 | 1 | 1 |
_tThree types of social goods, _p691. |
| 970 | 1 | 1 |
_tSocial goods: the international dimension, _p691. |
| 970 | 1 | 1 |
_tFinancing public and merit goods, _p692. |
| 970 | 1 | 1 |
_tFinancing international public goods, _p693. |
| 970 | 1 | 1 |
_tConclusion: private and public provision, _p693. |
| 970 | 1 | 2 |
_tVoting and government failure, _p693. |
| 970 | 1 | 1 |
_tUnanimity rule and majorty rule, _p693. |
| 970 | 1 | 1 |
_tRent seeking, _p694. |
| 970 | 1 | 1 |
_tConcentration and dispersion, _p694. |
| 970 | 1 | 1 |
_tRational ignorance and rational abstention, _p695. |
| 970 | 1 | 1 |
_tSpecial interest groups, _p695. |
| 970 | 1 | 1 |
_tWould you sell your vote?, _p696. |
| 970 | 1 | 1 |
_tInefficiency and the behavior of elected officials, _p696. |
| 970 | 1 | 1 |
_tVoting paradox, _p697. |
| 970 | 1 | 2 |
_tBureacuracy and government failure, _p698. |
| 970 | 1 | 1 |
_tDistinguishing feature of government bureacuracy, _p698. |
| 970 | 1 | 1 |
_tImproving efficiency, _p699. |
| 970 | 1 | 2 |
_tThe global economy and government failure, _p699. |
| 970 | 1 | 2 |
_tOrigings: the emergence of public choice from political economy, _p700. |
| 970 | 1 | 1 |
_tDuncan Black: the father of public choice, _p700. |
| 970 | 1 | 1 |
_tKenneth Arrow: "Economist's economist", _p700. |
| 970 | 1 | 1 |
_tJames Buchanan: Self-interest rules politics, _p701. |
| 970 | 1 | 1 |
_tCable television: should consumers pay?, _p704. |
| 970 | 1 | 2 |
_tLabor market: human capital, discrimination, unions, _p706. |
| 970 | 1 | 2 |
_tLabor-market analysis, _p706. |
| 970 | 1 | 1 |
_tCompetitive labor markets, _p708. |
| 970 | 1 | 1 |
_tSegmented labor markets, _p708. |
| 970 | 1 | 1 |
_tInternational labor-market analysis, _p710. |
| 970 | 1 | 1 |
_tConclusion: competitive markets and efficient wage differentials, _p712. |
| 970 | 1 | 2 |
_tHousehold production, _p712. |
| 970 | 1 | 1 |
_tThe labor-leisure trade-off, _p712. |
| 970 | 1 | 1 |
_tAge and the life cycle, _p713. |
| 970 | 1 | 1 |
_tInvesting in human capital, _p714. |
| 970 | 1 | 2 |
_tDicrimination and imperfect information, _p715. |
| 970 | 1 | 1 |
_tEconomics in the news, gender discrimination in the workplace, _p716. |
| 970 | 1 | 1 |
_tOccupational segrepation and antidiscrimination policies, _p717. |
| 970 | 1 | 1 |
_tConclusion: equal opportunities verses equal results, _p718. |
| 970 | 1 | 2 |
_tLabor unions, _p718. |
| 970 | 1 | 1 |
_tCollective bargaining, _p718. |
| 970 | 1 | 1 |
_tSetting labor-management disputes, _p719. |
| 970 | 1 | 1 |
_tWage determination and employment, _p719. |
| 970 | 1 | 1 |
_tIs it featherbedding or redundancy?, _p720. |
| 970 | 1 | 1 |
_tA recent history of union activity, _p722. |
| 970 | 1 | 1 |
_tConclusion: do unions raise workers' income?, _p724. |
| 970 | 1 | 2 |
_tOrigins. the "economic imperialist", _p724. |
| 970 | 1 | 1 |
_tEconomic imperialism, _p724. |
| 970 | 1 | 1 |
_tHuman behavior and labor markets, _p725. |
| 970 | 1 | 1 |
_tPay inequity: would comparable worth close the gender gap?, _p728. |
| 970 | 1 | 2 |
_tPart 9 microeconomics tomorrow: emerging issues, _p731. |
| 970 | 1 | 2 |
_tThe farm problem: agriculture in the world economy, _p732. |
| 970 | 1 | 2 |
_tThe economics of agriculture, _p732. |
| 970 | 1 | 1 |
_tPrice and income inelasticities, _733. |
| 970 | 1 | 1 |
_tHighly competitive structure, _p734. |
| 970 | 1 | 1 |
_tRapid technological change, _p735. |
| 970 | 1 | 1 |
_tResource immobility, _p735. |
| 970 | 1 | 1 |
_tConclusion: agriculture-a declining industry, _p735. |
| 970 | 1 | 2 |
_tFarm policies, _p736. |
| 970 | 1 | 1 |
_tPrice supports, _p736. |
| 970 | 1 | 1 |
_tCrop restriction, _p738. |
| 970 | 1 | 1 |
_tDirect payments, _p739. |
| 970 | 1 | 1 |
_tThe cost of farm subsidies, _p740. |
| 970 | 1 | 1 |
_tSpecial interest groups, _p740. |
| 970 | 1 | 2 |
_tAgriculture and the global economy, _p741. |
| 970 | 1 | 1 |
_tU.S. Trade in farm products, _p741. |
| 970 | 1 | 1 |
_tInternational subsiyd wars, _p741. |
| 970 | 1 | 1 |
_tSubsidies and developing countries, _p742. |
| 970 | 1 | 1 |
_tInternational negotiation under GATT, _p743. |
| 970 | 1 | 1 |
_tEconomics in the news, farm subsidies in Europe, _p744. |
| 970 | 1 | 2 |
_tConclusion: striving for efficiency and equity, _p745. |
| 970 | 1 | 1 |
_tSolution: encourage exodus, _p745. |
| 970 | 1 | 1 |
_tThe family farm: should we act to save it?, _p748. |
| 970 | 1 | 2 |
_tSocial problems: financial insecurity, poverty, health care, _p750. |
| 970 | 1 | 2 |
_tSocial security: providing for the elderly and disabled, _p750. |
| 970 | 1 | 1 |
_tThe U.S. Social security system, _p751. |
| 970 | 1 | 1 |
_tHow does social security work?, _p751. |
| 970 | 1 | 1 |
_tWhat are its problem?, _p751. |
| 970 | 1 | 1 |
_tSupport for the elderly in other countries, _p752. |
| 970 | 1 | 1 |
_tConclusion: how can social security be improved?, _p752. |
| 970 | 1 | 2 |
_tPoverty: providing for the poor, _p753. |
| 970 | 1 | 1 |
_tWhat is poverty?, _p755. |
| 970 | 1 | 1 |
_tTypes of poverty, _p755. |
| 970 | 1 | 1 |
_tImmigration: the global exhange of poverty, _p756. |
| 970 | 1 | 1 |
_tAttacking poverty, _p756. |
| 970 | 1 | 1 |
_tEconomics in the news, profile of the poor, _p760. |
| 970 | 1 | 1 |
_tConclusion: a combination of programs, _p762. |
| 970 | 1 | 2 |
_tHealth care: providing for the sick, _p762. |
| 970 | 1 | 1 |
_tA mixed health-care system, _p762. |
| 970 | 1 | 1 |
_tDemand for health-care services, _p763. |
| 970 | 1 | 1 |
_tSupply of health-care services, _p765. |
| 970 | 1 | 1 |
_tAn international comparison of health care, _p765. |
| 970 | 1 | 1 |
_tEconomics in the news, nursing's lack of market power, _p767. |
| 970 | 1 | 1 |
_tConclusion: a mix of private and public provision, _p767. |
| 970 | 1 | 2 |
_tOrigins: the poor laws and workfare, _p768. |
| 970 | 1 | 1 |
_tNational health insurance: should government provide it?, _p772. |
| 970 | 1 | 2 |
_tThe economics of crime, _p774. |
| 970 | 1 | 2 |
_tIllegal drugs, _p774. |
| 970 | 1 | 1 |
_tSoft drugs, _p774. |
| 970 | 1 | 1 |
_tHard drugs, _p775. |
| 970 | 1 | 1 |
_tRestrict supply, _p776. |
| 970 | 1 | 1 |
_tRestrict demand, _p776. |
| 970 | 1 | 1 |
_tLegalize the market, _p777. |
| 970 | 1 | 2 |
_tConclusion: economic and noneconomic crimes, _p778. |
| 970 | 1 | 2 |
_tNatural resources: energy and the environment, _p780. |
| 970 | 1 | 2 |
_tExhaustible and renewable resources, _p781. |
| 970 | 1 | 1 |
_tThe price of a natural resource, _p781. |
| 970 | 1 | 1 |
_tEconomics in the news, betting the planet, _p783. |
| 970 | 1 | 1 |
_tSwitching point to substitute resources, _p785. |
| 970 | 1 | 1 |
_tEfficiency and equity, _p786. |
| 970 | 1 | 2 |
_tEnergy policy, _p786. |
| 970 | 1 | 2 |
_tEnvironmental pollution: a spillover cost, _p788. |
| 970 | 1 | 1 |
_tThe efficient level of pollution, _p788. |
| 970 | 1 | 1 |
_tPollution and growth, _p790. |
| 970 | 1 | 1 |
_tThe coase theorem and voluntary negotiation, _p790. |
| 970 | 1 | 1 |
_tEnvironmental policies, _p791. |
| 970 | 1 | 2 |
_tEnvironmental resources in the global economy, _p792. |
| 970 | 1 | 1 |
_tInternational spillover costs, _p793. |
| 970 | 1 | 1 |
_tEnvironmental quality and international trade, _p794. |
| 970 | 1 | 1 |
_tGlobal warming: should we act?, _p796. |
| 970 | 1 | 2 |
_tThe economics of information: uncertainty, risk, financial markets, _p798. |
| 970 | 1 | 2 |
_tInformation, _p799. |
| 970 | 1 | 1 |
_tInformation scarcity and the economics of search, _p799. |
| 970 | 1 | 1 |
_tInformation asymmetry, _p801. |
| 970 | 1 | 1 |
_tAdverse selection, _p801. |
| 970 | 1 | 1 |
_tMoral hazard, _p802. |
| 970 | 1 | 1 |
_tConclusion: information-a scarce good, _p802. |
| 970 | 1 | 2 |
_tUncertainty and risk, _p802. |
| 970 | 1 | 1 |
_tRisk preferences and the marginal utility of income, _p803. |
| 970 | 1 | 1 |
_tInsurance: trading risk for certanity, _p803. |
| 970 | 1 | 1 |
_tConclusion: pitfalls of insurance, _p804. |
| 970 | 1 | 1 |
_tEconomics in the news, justice and moral hazard, _p804. |
| 970 | 1 | 2 |
_tFinancial markets, _p805. |
| 970 | 1 | 1 |
_tFutures markets and hedging, _p805. |
| 970 | 1 | 1 |
_tArbitage and speculation, _p805. |
| 970 | 1 | 1 |
_tThe stabilizing effect of arbitrage and speculation, _p806. |
| 970 | 1 | 1 |
_tArbitrage and speculation in foreign exchange markets, _p807. |
| 970 | 1 | 1 |
_tConclusion: information and efficient markets, _p808. |
| 970 | 1 | 2 |
_tOrigins: information and risk, _p808. |
| 970 | 1 | 1 |
_tFredrich A. von hayek: information and markets, _p808. |
| 970 | 1 | 1 |
_tJohn von Neumann and Oskar morgenstern, _p809. |
| 970 | 1 | 1 |
_tMoral Hazard: is it the cause of bank failures?, _p812. |
| 970 | 1 | 2 |
_tInternational economics and the world's economies, _p815. |
| 970 | 1 | 2 |
_tInternational trade: the commerce of nations, _p816. |
| 970 | 1 | 2 |
_tWhy trade?, _p816. |
| 970 | 1 | 1 |
_tSpecialization and trade, _p818. |
| 970 | 1 | 1 |
_tSpecialization and the gains from trade, _p819. |
| 970 | 1 | 1 |
_tTerms of trade, _p820. |
| 970 | 1 | 1 |
_tIncreasing costs and incomplete specialization, _p821. |
| 970 | 1 | 2 |
_tThe case for free trade, _p821. |
| 970 | 1 | 1 |
_tAbsolute advantage, _p821. |
| 970 | 1 | 1 |
_tComparative advantage, _p822. |
| 970 | 1 | 1 |
_tConclusion: the argument for free trade, _p822. |
| 970 | 1 | 2 |
_tFree trade versus import protection, _p822. |
| 970 | 1 | 1 |
_tAnalyzing quotas and tariffs, _p822. |
| 970 | 1 | 1 |
_tEconomics in the news, "us" is "them", _p823. |
| 970 | 1 | 1 |
_tVisible and invisible effects of protection, _p825. |
| 970 | 1 | 1 |
_tConclusion: tariffs preferred to quotas, _p826. |
| 970 | 1 | 2 |
_tArguments for protection, _p826. |
| 970 | 1 | 1 |
_tInfant industry argument, _p826. |
| 970 | 1 | 1 |
_tIn defense of protection, _p827. |
| 970 | 1 | 1 |
_tNational security argument, _p828. |
| 970 | 1 | 1 |
_tWage protection argument, _p828. |
| 970 | 1 | 1 |
_tEmployment protection argument, _p828. |
| 970 | 1 | 1 |
_tConclusion:fundamental principle, _p829. |
| 970 | 1 | 2 |
_tStrategic trade policy: a case for protection?, _p829. |
| 970 | 1 | 1 |
_t"A banana into a cage of monkeys", _p830. |
| 970 | 1 | 1 |
_tWho will be the sacrificial lamb?, _p831. |
| 970 | 1 | 1 |
_tEconomics in the news, airbus: predatory pricing?, _p832. |
| 970 | 1 | 1 |
_tThe airbus example, _p832. |
| 970 | 1 | 1 |
_tCritiques of STP?, _p832. |
| 970 | 1 | 1 |
_tConclusion: free trade still is preferred, _p833. |
| 970 | 1 | 2 |
_tGATT and multilateral trade negotiations, _p833. |
| 970 | 1 | 1 |
_tNondiscrimination in trade, _p833. |
| 970 | 1 | 1 |
_tReduction of tariffs, _p833. |
| 970 | 1 | 1 |
_tElimination of import quotas, _p834. |
| 970 | 1 | 1 |
_tResolution of differences through consultation, _p834. |
| 970 | 1 | 1 |
_tJapanese trade practices: are they unfair?, _p836. |
| 970 | 1 | 2 |
_tInternational finance: the payments of nations, _p838. |
| 970 | 1 | 2 |
_tThe balance of payments, _p838. |
| 970 | 1 | 2 |
_tThe foreign exchange market, _p839. |
| 970 | 1 | 1 |
_tGraphic illustration, _p839. |
| 970 | 1 | 1 |
_tShifts of the curves: causes and effects, _p842. |
| 970 | 1 | 1 |
_tConclusion: important ideas and potential problems, _p842. |
| 970 | 1 | 2 |
_tFlexible versus fixed exchange rates, _p843. |
| 970 | 1 | 1 |
_tFlexible (floating) exchange rates, _p843. |
| 970 | 1 | 1 |
_tFixed exchange rates, _p844. |
| 970 | 1 | 2 |
_tToday's problems and policies, _p846. |
| 970 | 1 | 1 |
_tFiscal and monetary policies, _p847. |
| 970 | 1 | 1 |
_tThe BigMac index: a guide to currency values, _p848. |
| 970 | 1 | 1 |
_tTrade controls, _p849. |
| 970 | 1 | 1 |
_tExchange controls, _p849. |
| 970 | 1 | 2 |
_tOrigins: international economics, _p849. |
| 970 | 1 | 1 |
_tDavid Ricardo: comparative advantage, _p850. |
| 970 | 1 | 1 |
_tJames Meade: modern international-trade theory, _p850. |
| 970 | 1 | 1 |
_tBertil Ohlin: general global equilibrium, _p851. |
| 970 | 1 | 1 |
_tThe European community: should it adopt a single currency?, _p854. |
| 970 | 1 | 2 |
_tEconomic development: the less developed and newly industrializing countries, _p856. |
| 970 | 1 | 2 |
_tThe meaning of economic development, _p856. |
| 970 | 1 | 1 |
_tWhat is economic development?, _p857. |
| 970 | 1 | 1 |
_tEconomic and "environmental" differences, _p857. |
| 970 | 1 | 2 |
_tLow-income LDCs: stagnant growth, _p859. |
| 970 | 1 | 1 |
_tPhysical capital, _p859. |
| 970 | 1 | 1 |
_tAgricultural development, _p859. |
| 970 | 1 | 1 |
_tPopulation growth, _p861. |
| 970 | 1 | 1 |
_tHuman capital, _p861. |
| 970 | 1 | 1 |
_tDevelopment strategies after world war II, _p862. |
| 970 | 1 | 1 |
_tEconomics in the news, who eats how much?, _p863. |
| 970 | 1 | 1 |
_tConclusion: ineffective development strategies, _p864. |
| 970 | 1 | 2 |
_tInvestment and aid in LCDs, _p864. |
| 970 | 1 | 1 |
_tPrivate foreign investment, _p865. |
| 970 | 1 | 1 |
_tForeign aid, _p865. |
| 970 | 1 | 1 |
_tForeign loans, _p866. |
| 970 | 1 | 2 |
_tNewly industrializing countries: the pacific rim, _p867. |
| 970 | 1 | 1 |
_tSouth Korea: conglomerate model, _p867. |
| 970 | 1 | 1 |
_tTaiwan: competitive model, _p869. |
| 970 | 1 | 1 |
_tSingapore: indicative-planning model, _p869. |
| 970 | 1 | 1 |
_tHong Kong: Laissez-faire model, _p870. |
| 970 | 1 | 1 |
_tThailand-Asia's new fifth "tiger"?, _p870. |
| 970 | 1 | 1 |
_tConclusion: lessons for LDCs, _p871. |
| 970 | 1 | 2 |
_tMarket-based development strategy, _p872. |
| 970 | 1 | 2 |
_tOrigins: an architect of economic development, _p872. |
| 970 | 1 | 1 |
_tEconomics in the news, free markets take hold, _p873. |
| 970 | 1 | 2 |
_tTransitional economics: from central planning to free markets, _p876. |
| 970 | 1 | 2 |
_tUnderstanding capitalism and socialism, _p877. |
| 970 | 1 | 1 |
_tCapitalism and free markets, _p877. |
| 970 | 1 | 1 |
_tSocialism and central planning, _p877. |
| 970 | 1 | 1 |
_tMarxian roots of socialism and communism, _p878. |
| 970 | 1 | 2 |
_tWhy central planning failed, _p878. |
| 970 | 1 | 1 |
_tInadequate market information, _p879. |
| 970 | 1 | 1 |
_tInsufficient incentive systems, _p880. |
| 970 | 1 | 1 |
_tConclusion: evaluating performance of centrally planned economies, _p881. |
| 970 | 1 | 2 |
_tImplementing market reforms, _p884. |
| 970 | 1 | 1 |
_tRevise the legal system, _p884. |
| 970 | 1 | 1 |
_tPrivatize property, _p885. |
| 970 | 1 | 1 |
_tEstablish free markets, _p886. |
| 970 | 1 | 1 |
_tInstitute financial reforms, _p886. |
| 970 | 1 | 1 |
_tEconomics in the news, coupon money, _p888. |
| 970 | 1 | 1 |
_tEstablish currency convertibility, _p889. |
| 970 | 1 | 2 |
_tMinimizing the adjustment period, _p890. |
| 970 | 1 | 1 |
_tPrivatize property quickly, _p890. |
| 970 | 1 | 1 |
_tEliminate monetary overhang, _p890. |
| 970 | 1 | 1 |
_tProvide a safety net, _p891. |
| 970 | 1 | 1 |
_tCan foreign aid help?, _p891. |
| 970 | 1 | 2 |
_tOrigins: scientific socialism, _p892. |
| 970 | 1 | 1 |
_tMajor works, _p892. |
| 970 | 1 | 1 |
_tFailed expectations, _p892. |
| 970 | 1 | 1 |
_tAfter communism: free-market capitalism?, _p896. |
| 970 | 0 | 1 |
_aIndex, _pI-1. |
| 970 | 0 | 1 |
_aDictionary of economic terms and concepts, _pD-1. |
| 999 |
_c6097 _d6097 |
||
| 003 | KOHA | ||