Chapter 1: Foundations and ModelsSection 1.1:
Three Key Economic Ideas
Section 1.2:
The Economic Problem That Every Society Must Solve
Section 1.3:
Economic Models
Section 1.4:
Microeconomics and Macroeconomics
Page 27:
Critical Thinking Exercises
Page 38:
Problems and Applications
Page 22:
Review Questions
Page 22:
Problems and Applications
Chapter 2: Trade-offs, Comparative Advantage, and the Market SystemSection 2.1:
Production Possibilities Frontiers and Opportunity Costs,
Section 2.2:
Comparative Advantage and Trade
Section 2.3:
The Market System
Page 71:
Critical Thinking Exercises
Page 66:
Review Questions
Page 67:
Problems and Applications
Chapter 3: Where Prices Come From: The Interaction of Demand and SupplySection 3.1:
The Demand Side of the Market
Section 3.2:
The Supply Side of the MarketSection 3.3:
Market Equilibrium: Putting Demand and Supply TogetherSection 3.4:
The Effect of Demand and Supply Shifts on Equilibrium
Page 107:
Critical Thinking ExercisesPage 100:
Problems and Applications
Page 100:
Review Questions
Exercise 7
Exercise 8
Exercise 9a
Exercise 9b
Exercise 9c
Exercise 9d
Exercise 9e
Exercise 10
Exercise 11
Exercise 12
Exercise 13
Exercise 14
Exercise 15
Exercise 16a
Exercise 16b
Exercise 17a
Exercise 17b
Chapter 4: Economic Efficiency, Government Price Setting, and TaxesSection 4.1:
Consumer Surplus and Producer Surplus
Section 4.2:
The Efficiency of Competitive Markets
Section 4.3:
Government Intervention in the Market: Price Floors and Price Ceilings
Section 4.4:
The Economic Effect of Taxes
Page 140:
Critical Thinking Exercises
Page 144:
Problems and Applications
Page 144:
Review Questions
Page 134:
Problems and Applications
Page 134:
Review Questions
Chapter 5: Externalities, Environmental Policy, and Public GoodsSection 5.1:
Externalities and Economic Efficiency
Section 5.2:
Private Solutions to Externalities: The Coase Theorem
Section 5.3:
Government Policies to Deal with Externalities
Section 5.4:
Four Categories of Goods
Page 181:
Critical Thinking Exercises
Page 174:
Review Questions
Page 175:
Problems and Applications
Chapter 6: Elasticity: The Responsiveness of Demand and SupplySection 6.1:
The Price Elasticity of Demand and Its Measurement
Section 6.2:
The Determinants of the Price Elasticity of DemandSection 6.3:
The Relationship between Price Elasticity of Demand and Total RevenueSection 6.4:
Other Demand Elasticities
Section 6.5:
Using Elasticity to Analyze the Disappearing Family FarmSection 6.6:
The Price Elasticity of Supply and Its Measurement
Page 217:
Critical Thinking ExercisesPage 209:
Problems and Applications
Page 209:
Review QuestionsExercise 5
Exercise 6a
Exercise 6b
Exercise 6c
Exercise 7
Exercise 9
Exercise 10
Chapter 7: The Economics of Health CareSection 7.1:
The Improving Health of People in the United States
Section 7.2:
Health Care around the World
Section 7.3:
Information Problems and Externalities in the Market for Health Care
Section 7.4:
The Debate over Health Care Policy in the United States
Page 251:
Critical Thinking Exercises
Page 246:
Review Questions
Page 246:
Problems and Applications
Chapter 8: Firms, the Stock Market, and Corporate GovernanceSection 8.1:
Types of Firms
Section 8.2:
How Firms Raise Funds
Section 8.3:
Using Financial Statements to Evaluate a Corporation
Section 8.4:
Recent Issues in Corporate Governance Policy
Page 277:
Critical Thinking ExercisesPage 286:
Review Questions
Page 286:
Problems and Applications
Page 273:
Problems and Applications
Page 273:
Review Questions
Chapter 9: Comparative Advantage and the Gains from International TradeSection 9.1:
The United States in the International Economy
Section 9.2:
Comparative Advantage in International Trade
Section 9.3:
How Countries Gain from International Trade
Section 9.4:
Government Policies That Restrict International Trade
Section 9.5:
The Debate over Trade Policies and Globalization
Page 323:
Critical Thinking Exercises
Page 315:
Review Questions 1
Page 315:
Problems and Applications
Chapter 10: Consumer Choice and Behavioral EconomicsSection 10.1:
Utility and Consumer Decision Making
Section 10.2:
Where Demand Curves Come From
Section 10.3:
Social Influences on Decision Making
Section 10.4:
Behavioral Economics: Do People Make Rational Choices?
Page 357:
Critical Thinking Exercises
Page 370:
Review Questions
Page 370:
Problems and Applications
Page 352:
Review Questions
Page 353:
Problems and Applications 1
Chapter 11: Technology, Production, and CostsSection 11.1:
Technology: An Economic Definition
Section 11.2:
The Short Run and the Long Run in Economics
Section 11.3:
The Marginal Product of Labor and the Average Product of Labor
Section 11.4:
The Relationship between Short-Run Production and Short-Run Cost
Section 11.5:
Graphing Cost Curves
Section 11.6:
Costs in the Long Run
Page 401:
Critical Thinking Exercises
Page 411:
Review Questions
Page 411:
Problems and Applications
Page 394:
Problems and Applications
Page 394:
Review Questions
Chapter 12: Firms in Perfectly Competitive MarketsSection 12.1:
Perfectly Competitive Markets
Section 12.2:
How a Firm Maximizes Profit in a Perfectly Competitive Market
Section 12.3:
Illustrating Profit or Loss on the Cost Curve Graph
Section 12.4:
Deciding Whether to Produce or to Shut Down in the Short Run
Section 12.5:
“If Everyone Can Do It, You Can't Make Money at It”: The Entry and Exit of Firms in the Long Run
Section 12.6:
Perfect Competition and Economic Efficiency
Page 449:
Critical Thinking Exercises
Page 442:
Review Questions
Page 442:
Problems and Applications
Chapter 13: Monopolistic Competition: The Competitive Model in a More Realistic SettingSection 13.1:
Demand and Marginal Revenue for a Firm in a Monopolistically Competitive Market
Section 13.2:
How a Monopolistically Competitive Firm Maximizes Profit in the Short Run
Section 13.3:
What Happens to Profits in the Long Run?
Section 13.4:
Comparing Monopolistic Competition and Perfect Competition
Section 13.5:
How Marketing Differentiates Products
Section 13.6:
What Makes a Firm Successful?
Page 477:
Critical Thinking ExercisesPage 470:
Problems and Applications
Page 470:
Review Questions
Chapter 14: Oligopoly: Firms in Less Competitive MarketsSection 14.1:
Oligopoly and Barriers to EntrySection 14.2:
Game Theory and OligopolySection 14.3:
Sequential Games and Business Strategy
Section 14.4:
The Five Competitive Forces ModelPage 505:
Critical Thinking ExercisesPage 504:
Review Questions 1Page 504:
Problems and Applications 1
Exercise 3
Exercise 4a
Exercise 4b
Exercise 5
Exercise 6a
Exercise 6b
Chapter 15: Monopoly and Antitrust PolicySection 15.1:
Is Any Firm Ever Really a Monopoly?
Section 15.2:
Where Do Monopolies Come From?
Section 15.3:
How Does a Monopoly Choose Price and Output?
Section 15.4:
Does Monopoly Reduce Economic Efficiency?
Section 15.5:
Government Policy toward Monopoly
Page 537:
Critical Thinking ExercisesPage 531:
Review Questions
Page 531:
Problems and Applications
Chapter 16: Pricing StrategySection 16.1:
Pricing Strategy, the Law of One Price, and Arbitrage
Section 16.2:
Price Discrimination: Charging Different Prices for the Same Product
Section 16.3:
Other Pricing Strategies
Page 561:
Critical Thinking Exercises
Page 557:
Problems and Applications
Page 557:
Review Questions
Chapter 17: The Markets for Labor and Other Factors of ProductionSection 17.1:
The Demand for Labor,
Section 17.2:
The Supply of Labor,
Section 17.3:
Equilibrium in the Labor Market
Section 17.4:
Explaining Differences in Wages
Section 17.5:
Personnel Economics
Section 17.6:
The Markets for Capital and Natural Resources
Page 599:
Critical Thinking Exercises
Page 592:
Problems and Applications
Page 592:
Review Questions
Chapter 18: Public Choice, Taxes, and the Distribution of IncomeSection 18.1:
Public Choice
Section 18.2:
The Tax System
Section 18.3:
Tax Incidence Revisited: The Effect of Price ElasticitySection 18.4:
Income Distribution and PovertyPage 635:
Critical Thinking ExercisesPage 630:
Problems and Applications
Page 630:
Review Questions
Chapter 19: GDP: Measuring Total Production and IncomeSection 19.1:
Gross Domestic Product Measures Total Production
Section 19.2:
Does GDP Measure What We Want It to Measure?
Section 19.3:
Real GDP versus Nominal GDP
Section 19.4:
Other Measures of Total Production and Total Income
Page 660:
Real-Time Data Exercises
Page 661:
Critical Thinking Exercises
Page 656:
Review Questions
Page 656:
Problems and Applications
Chapter 20: Unemployment and InflationSection 20.1:
Measuring the Unemployment Rate, the Labor Force Participation Rate, and the Employment–Population Ratio
Section 20.2:
Types of Unemployment
Section 20.3:
Explaining Unemployment
Section 20.4:
Measuring Inflation
Section 20.5:
Using Price Indexes to Adjust for the Effects of Inflation
Section 20.6:
Nominal Interest Rates versus Real Interest Rates
Section 20.7:
Does Inflation Impose Costs on the Economy?
Page 698:
Real-Time Data Exercises
Page 701:
Critical Thinking ExercisesPage 691:
Review Questions
Page 691:
Problems and Applications
Chapter 21: Economic Growth, the Financial System, and Business CyclesSection 21.1:
Long-Run Economic Growth
Section 21.2:
Saving, Investment, and the Financial SystemSection 21.3:
The Business CyclePage 734:
Real-Time Data ExercisesPage 735:
Critical Thinking ExercisesPage 730:
Problems and ApplicationsPage 730:
Review Questions
Chapter 22: Long-Run Economic Growth: Sources and PoliciesSection 22.1:
Economic Growth over Time and around the World
Section 22.2:
What Determines How Fast Economies Grow?
Section 22.3:
Economic Growth in the United States
Section 22.4:
Why Isn't the Whole World Rich?
Section 22.5:
Growth Policies
Page 775:
Real-Time Data Exercises
Page 775:
Critical Thinking Exercises
Page 768:
Review Questions
Page 768:
Problems and Applications
Chapter 23: Aggregate Expenditure and Output in the Short RunSection 23.1:
The Aggregate Expenditure Model
Section 23.2:
Determining the Level of Aggregate Expenditure in the Economy
Section 23.3:
Graphing Macroeconomic Equilibrium
Section 23.4:
The Multiplier Effect
Section 23.5:
The Aggregate Demand Curve
Page 817:
Real-Time Data Exercises
Page 817:
Critical Thinking Exercises
Page 819:
Review Questions
Page 811:
Problems and Applications 1
Page 811:
Review Questions
Chapter 24: Aggregate Demand and Aggregate Supply AnalysisSection 24.1:
Aggregate Demand
Section 24.2:
Aggregate SupplySection 24.3:
Macroeconomic Equilibrium in the Long Run and the Short RunSection 24.4:
A Dynamic Aggregate Demand and Aggregate Supply ModelPage 856:
Real-Time Data ExercisesPage 857:
Critical Thinking ExercisesPage 849:
Review Questions
Page 849:
Problems and Applications
Chapter 25: Money, Banks, and the Federal Reserve SystemSection 25.1:
What Is Money, and Why Do We Need It?
Section 25.2:
How Is Money Measured in the United States Today?Section 25.3:
How Do Banks Create Money?Section 25.4:
The Federal Reserve SystemSection 25.5:
The Quantity Theory of MoneyPage 898:
Real-Time Data ExercisesPage 899:
Critical Thinking ExercisesPage 892:
Problems and Applications 1Page 892:
Review Questions
Chapter 26: Monetary PolicyCOMING SOON
Section 27.1:
What Is Fiscal Policy?
Section 27.2:
The Effects of Fiscal Policy on Real GDP and the Price Level
Section 27.3:
Fiscal Policy in the Dynamic Aggregate Demand and Aggregate Supply Model
Section 27.4:
The Government Purchases and Tax Multipliers
Section 27.5:
The Limits to Using Fiscal Policy to Stabilize the Economy
Section 27.6:
Deficits, Surpluses, and Federal Government Debt
Section 27.7:
Long-Run Fiscal Policy and Economic Growth
Page 988:
Critical Thinking Exercises
Page 988:
Real-Time Data Exercises
Page 993:
Review Questions
Page 981:
Review Questions
Page 981:
Problems and Applications
Chapter 28: Inflation, Unemployment, and Federal Reserve PolicySection 28.1:
The Discovery of the Short-Run Trade-off between Unemployment and Inflation
Section 28.2:
The Short-Run and Long-Run Phillips Curves
Section 28.3:
Expectations of the Inflation Rate and Monetary Policy
Section 28.4:
Federal Reserve Policy from the 1970s to the Present
Page 1027:
Real-Time Data Exercises
Page 1027:
Critical Thinking Exercises
Page 1021:
Review Questions
Page 1021:
Problems and Applications
Chapter 29: Macroeconomics in an Open EconomySection 29.1:
The Balance of Payments: Linking the United States to the International Economy
Section 29.2:
The Foreign Exchange Market and Exchange Rates
Section 29.3:
The International Sector and National Saving and InvestmentSection 29.4:
The Effect of a Government Budget Deficit on InvestmentSection 29.5:
Monetary Policy and Fiscal Policy in an Open EconomyPage 1057:
Critical Thinking ExercisesPage 1057:
Real-Time Data ExercisesPage 1051:
Problems and Applications 1
Page 1051:
Review Questions
Chapter 30: The International Financial SystemCOMING SOON
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