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Test bank for Principles of Macroeconomics 7th Edition by N. Gregory Mankiw

Test bank for Principles of Macroeconomics 7th Edition by N. Gregory Mankiw

With its clear and engaging writing style, PRINCIPLES OF ECONOMICS, Seventh Edition, continues to be one of the most popular books on economics available today. Mankiw emphasizes material that you are likely to find interesting about the economy (particularly if you are studying economics for the first time), including real-life scenarios, useful facts, and the many ways economic concepts play a role in the decisions you make every day.

About the Author
Brief Contents
Preface to the Student
Acknowledgments
Contents
Part I: Introduction
Ch 1: Ten Principles of Economics
1-1: How People Make Decisions
1-2: How People Interact
1-3: How the Economy as a Whole Works
1-4: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 2: Thinking like an Economist
2-1: The Economist as Scientist
2-2: The Economist as Policy Adviser
2-3: Why Economists Disagree
2-4: Let’s Get Going
Summary
Quick Check Multiple Choice
Problems and Applications
Appendix: Graphing: A Brief Review
Ch 3: Interdependence and the Gains from Trade
3-1: A Parable for the Modern Economy
3-2: Comparative Advantage: The Driving Force of Specialization
3-3: Applications of Comparative Advantage
3-4: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Part II: How Markets Work
Ch 4: The Market Forces of Supply and Demand
4-1: Markets and Competition
4-2: Demand
4-3: Supply
4-4: Supply and Demand Together
4-5: Conclusion: How Prices Allocate Resources
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 5: Elasticity and Its Application
5-1: The Elasticity of Demand
5-2: The Elasticity of Supply
5-3: Three Applications of Supply, Demand, and Elasticity
5-4: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 6: Supply, Demand, and Government Policies
6-1: Controls on Prices
6-2: Taxes
6-3: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Part III: Markets and Welfare
Ch 7: Consumers, Producers, and the Efficiency of Markets
7-1: Consumer Surplus
7-2: Producer Surplus
7-3: Market Efficiency
7-4: Conclusion: Market Efficiency and Market Failure
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 8: Application: The Costs of Taxation
8-1: The Deadweight Loss of Taxation
8-2: The Determinants of the Deadweight Loss
8-3: Deadweight Loss and Tax Revenue as Taxes Vary
8-4: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 9: Application: International Trade
9-1: The Determinants of Trade
9-2: The Winners and Losers from Trade
9-3: The Arguments for Restricting Trade
9-4: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Part IV: The Economics of the Public Sector
Ch 10: Externalities
10-1: Externalities and Market Inefficiency
10-2: Public Policies toward Externalities
10-3: Private Solutions to Externalities
10-4: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 11: Public Goods and Common Resources
11-1: The Different Kinds of Goods
11-2: Public Goods
11-3: Common Resources
11-4: Conclusion: The Importance of Property Rights
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 12: The Design of the Tax System
12-1: A Financial Overview of the U.S. Government
12-2: Taxes and Efficiency
12-3: Taxes and Equity
11-4: Conclusion: The Trade-Off between Equity and Efficiency
Summary
Quick Check Multiple Choice
Problems and Applications
Part V: Firm Behavior and the Organization of Industry
Ch 13: The Costs of Production
13-1: What are Costs?
13-2: Production and Costs
13-3: The Various Measures of Cost
13-4: Costs in the Short Run and in the Long Run
13-5: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 14: Firms in Competitive Markets
14-1: What is a Competitive Market?
14-2: Profit Maximization and the Competitive Firm’s Supply Curve
14-3: The Supply Curve in a Competitive Market
14-4: Conclusion: Behind the Supply Curve
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 15: Monopoly
15-1: Why Monopolies Arise
15-2: How Monopolies Make Production and Pricing Decisions
15-3: The Welfare Cost of Monopolies
15-4: Price Discrimination
15-5: Public Policy toward Monopolies
15-6: Conclusion: The Prevalence of Monopolies
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 16: Monopolistic Competition
16-1: Between Monopoly and Perfect Competition
16-2: Competition with Differentiated Products
16-3: Advertising
16-4: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 17: Oligopoly
17-1: Markets with Only a Few Sellers
17-2: The Economics of Cooperation
17-3: Public Policy toward Oligopolies
17-4: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Part VI: The Economics of Labor Markets
Ch 18: The Markets for the Factors of Production
18-1: The Demand for Labor
18-2: The Supply of Labor
18-3: Equilibrium in the Labor Market
18-4: The Other Factors of Production: Land and Capital
18-5: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 19: Earnings and Discrimination
19-1: Some Determinants of Equilibrium Wages
19-2: The Economics of Discrimination
19-3: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 20: Income Inequality and Poverty
20-1: The Measurement of Inequality
20-2: The Political Philosophy of Redistributing Income
20-3: Policies to Reduce Poverty
20-4: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Part VII: Topics for Further Study
Ch 21: The Theory of Consumer Choice
21-1: The Budget Constraint: What the Consumer Can Afford
21-2: Preferences: What the Consumer Wants
21-3: Optimization: What the Consumer Chooses
21-4: Three Applications
21-5: Conclusion: Do People Really Think This Way?
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 22: Frontiers of Microeconomics
22-1: Asymmetric Information
22-2: Political Economy
22-3: Behavioral Economics
22-4: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Part VIII: The Data of Macroeconomics
Ch 23: Measuring a Nation’s Income
23-1: The Economy’s Income and Expenditure
23-2: The Measurement of GDP
23-3: The Components of GDP
23-4: Real versus Nominal GDP
23-5: Is GDP a Good Measure of Economic Well-Being?
23-6: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 24: Measuring the Cost of Living
24-1: The Consumer Price Index
24-2: Correcting Economic Variables for the Effects of Inflation
24-3: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Part IX: The Real Economy in the Long Run
Ch 25: Production and Growth
25-1: Economic Growth around the World
25-2: Productivity: Its Role and Determinants
25-3: Economic Growth and Public Policy
25-4: Conclusion: The Importance of Long-Run Growth
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 26: Saving, Investment, and the Financial System
26-1: Financial Institutions in the U.S. Economy
26-2: Saving and Investment in the National Income Accounts
26-3: The Market for Loanable Funds
26-4: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 27: The Basic Tools of Finance
27-1: Present Value: Measuring the Time Value of Money
27-2: Managing Risk
27-3: Asset Valuation
27-4: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 28: Unemployment
28-1: Identifying Unemployment
28-2: Job Search
28-3: Minimum-Wage Laws
28-4: Unions and Collective Bargaining
28-5: The Theory of Efficiency Wages
28-6: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Part X: Money and Prices in the Long Run
Ch 29: The Monetary System
29-1: The Meaning of Money
29-2: The Federal Reserve System
29-3: Banks and the Money Supply
29-4: The Fed’s Tools of Monetary Control
29-5: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 30: Money Growth and Inflation
30-1: The Classical Theory of Inflation
30-2: The Costs of Inflation
30-3: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Part XI: The Macroeconomics of Open Economies
Ch 31: Open-Economy Macroeconomics: Basic Concepts
31-1: The International Flows of Goods and Capital
31-2: The Prices for International Transactions: Real and Nominal Exchange Rates
31-3: A First Theory of Exchange-Rate Determination: Purchasing-Power Parity
31-4: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 32: A Macroeconomic Theory of the Open Economy
32-1: Supply and Demand for Loanable Funds and for Foreign-Currency Exchange
32-2: Equilibrium in the Open Economy
32-3: How Policies and Events Affect an Open Economy
32-4: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Part XII: Short-Run Economic Fluctuations
Ch 33: Aggregate Demand and Aggregate Supply
33-1: Three Key Facts about Economic Fluctuations
33-2: Explaining Short-Run Economic Fluctuations
33-3: The Aggregate-Demand Curve
33-4: The Aggregate-Supply Curve
33-5: Two Causes of Economic Fluctuations
33-6: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 34: The Influence of Monetary and Fiscal Policy on Aggregate Demand
34-1: How Monetary Policy Influences Aggregate Demand
34-2: How Fiscal Policy Influences Aggregate Demand
34-3: Using Policy to Stabilize the Economy
34-4: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Ch 35: The Short-Run Trade-Off between Inflation and Unemployment
35-1: The Phillips Curve
35-2: Shifts in the Phillips Curve: The Role of Expectations
35-3: Shifts in the Phillips Curve: The Role of Supply Shocks
35-4: The Cost of Reducing Inflation
35-5: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Part XIII: Final Thoughts
Ch 36: Six Debates over Macroeconomic Policy
36-1: Should Monetary and Fiscal Policymakers Try to Stabilize the Economy?
36-2: Should the Government Fight Recessions with Spending Hikes Rather Than Tax Cuts?
36-3: Should Monetary Policy Be Made by Rule Rather Than by Discretion?
36-4: Should the Central Bank Aim for Zero Inflation?
36-5: Should the Government Balance Its Budget?
36-6: Should the Tax Laws Be Reformed to Encourage Saving?
36-7: Conclusion
Summary
Quick Check Multiple Choice
Problems and Applications
Glossary
Index
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Test bank for Principles of Macroeconomics 7th Edition by N. Gregory Mankiw