Test bank for Brief Principles of Macroeconomics 6th Edition by N. Gregory Mankiw
Test bank for Brief Principles of Macroeconomics 6th Edition by N. Gregory Mankiw
BRIEF PRINCIPLES OF MACROECONOMICS, Sixth Edition, became a best-seller after its introduction and continues to be the most popular and widely used text in the economics classroom. Instructors found it the perfect complement to their teaching. A text by a superb writer and economist that stressed the most important concepts without overwhelming students with an excess of detail was a formula that was quickly imitated but has yet to be matched. The sixth edition features a strong revision of content in all eighteen chapters. Dozens of new applications emphasize the real-world relevance of economics for today’s students through interesting news articles, realistic case studies, and engaging problems. The premier ancillary package is the most extensive in the industry, using a team of instructors/preparers that have been with the project since the first edition. The text material is again fully integrated into Aplia, the best-selling online homework solution. “I have tried to put myself in the position of someone seeing economics for the first time. My goal is to emphasize the material that students should and do find interesting about the study of the economy.” N. Gregory Mankiw.
Additional ISBNs
1133455549, 147373519X, 9781133455547, 9781473735194, 9781111548001
Table of Content
About The Author
Brief Contents
Preface: To the Student
Acknowledgments
Table of Contents
PART I: Introduction
Chapter 1: Ten Principles of Economics
How People Make Decisions
How People Interact
How the Economy as a Whole Works
Conclusion
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
Chapter 2: Thinking Like an Economist
The Economist as Scientist
The Economist as Policy Adviser
Why Economists Disagree
Let’s Get Going
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
Appendix: Graphing: A Brief Review
Chapter 3: Interdependence and the Gains from Trade
A Parable for the Modern Economy
Comparative Advantage: The Driving Force of Specialization
Applications of Comparative Advantage
Conclusion
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
PART II: How Markets Work
Chapter 4: The Market Forces of Supply and Demand
Markets and Competition
Demand
Supply
Supply and Demand Together
Conclusion: How Prices Allocate Resources
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
PART III: The Data of Macroeconomics
Chapter 5: Measuring a Nation’s Income
The Economy’s Income and Expenditure
The Measurement of Gross Domestic Product
The Components of GDP
Real versus Nominal GDP
Is GDP a Good Measure of Economic Well-Being?
Conclusion
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
Chapter 6: Measuring the Cost of Living
The Consumer Price Index
Correcting Economic Variables for the Effects of Inflation
Conclusion
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
PART IV: The Real Economy in the Long Run
Chapter 7: Production and Growth
Economic Growth around the World
Productivity: Its Role and Determinants
Economic Growth and Public Policy
Conclusion: The Importance of Long-Run Growth
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
Chapter 8: Saving, Investment, and the Financial System
Financial Institutions in the U.S. Economy
Saving and Investment in the National Income Accounts
The Market for Loanable Funds
Conclusion
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
Chapter 9: The Basic Tools of Finance
Present Value: Measuring the Time Value of Money
Managing Risk
Asset Valuation
Conclusion
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
Chapter 10: Unemployment
Identifying Unemployment
Job Search
Minimum-Wage Laws
Unions and Collective Bargaining
The Theory of Efficiency Wages
Conclusion
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
PART V: Money and Prices in the Long Run
Chapter 11: The Monetary System
The Meaning of Money
The Federal Reserve System
Banks and the Money Supply
The Fed’s Tools of Monetary Control
Conclusion
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
Chapter 12: Money Growth and Inflation
The Classical Theory of Inflation
The Costs of Inflation
Conclusion
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
PART VI: The Macroeconomics of Open Economies
Chapter 13: Open-Economy Macroeconomics: Basic Concepts
The International Flows of Goods and Capital
The Prices for International Transactions: Real and Nominal Exchange Rates
A First Theory of Exchange-Rate Determination: Purchasing-Power Parity
Conclusion
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
Chapter 14: A Macroeconomic Theory of the Open Economy
Supply and Demand for Loanable Funds and for Foreign-Currency Exchange
Equilibrium in the Open Economy
How Policies and Events Affect an Open Economy
Conclusion
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
PART VII: Short-Run Economic Fluctuations
Chapter 15: Aggregate Demand and Aggregate Supply
Three Key Facts about Economic Fluctuations
Explaining Short-Run Economic Fluctuations
The Aggregate-Demand Curve
The Aggregate-Supply Curve
Two Causes of Economic Fluctuations
Conclusion
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
Chapter 16: The Influence of Monetary and Fiscal Policy on Aggregate Demand
How Monetary Policy Influences Aggregate Demand
How Fiscal Policy Influences Aggregate Demand
Using Policy to Stabilize the Economy
Conclusion
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
Chapter 17: The Short-Run Trade-off between Inflation and Unemployment
The Phillips Curve
Shifts in the Phillips Curve: The Role of Expectations
Shifts in the Phillips Curve: The Role of Supply Shocks
The Cost of Reducing Inflation
Conclusion
SUMMARY
KEY CONCEPTS
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
PART VIII: Final Thoughts
Chapter 18: Six Debates over Macroeconomic Policy
Should Monetary and Fiscal Policymakers Try to Stabilize the Economy?
Should the Government Fight Recessions with Spending Hikes Rather Than Tax Cuts?
Should Monetary Policy Be Made by Rule Rather Than by Discretion?
Should the Central Bank Aim for Zero Inflation?
Should the Government Balance Its Budget?
Should the Tax Laws Be Reformed to Encourage Saving?
Conclusion
SUMMARY
QUESTIONS FOR REVIEW
PROBLEMS AND APPLICATIONS
Glossary
Index
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