Test bank for ECON MACRO 5th Edition by William A. McEachern


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Test bank for ECON MACRO 5th Edition by William A. McEachern

Test bank for ECON MACRO 5th Edition by William A. McEachern

4LTR Press solutions give students the option to choose the format that best suits their learning preferences. This option is perfect for those students who focus on the textbook as their main course resource. Readers gain a strong understanding of economic principles with the hundreds of lively examples found in ECON Macro. This book draws on familiar life experiences to help explain economic concepts, choices, institutions, and events. A friendly writing style is makes the material clear and more direct. Understandable graphs and exhibits include captions that summarize key points for review, color-coded curves, and helpful labels for clarification.

Ch 1: The Art and Science of Economic Analysis

Ch 1: Learning Outcomes

1-1: The Economic Problem: Scarce Resources, Unlimited Wants

1-2: The Art of Economic Analysis

1-3: The Science of Economic Analysis

1-4: Some Pitfalls of Faulty Economic Analysis

1-5: If Economists Are So Smart, Why Aren’t They Rich?

1-6: Final Word

Study Tools 1

Chapter 1: Problems


Ch 2: Economic Tools and Economic Systems

Ch 2: Learning Outcomes

2-1: Choice and Opportunity Cost

2-2: Comparative Advantage, Specialization, and Exchange

2-3: The Economy’s Production Possibilities

2-4: Economic Systems

2-5: Final Word

Study Tools 2

Chapter 2: Problems

Ch 3: Economic Decision Makers

Ch 3: Learning Outcomes

3-1: The Household

3-2: The Firm

3-3: The Government

3-4: The Rest of the World

3-5: Final Word

Study Tools 3

Chapter 3: Problems

Ch 4: Demand, Supply, and Markets

Ch 4: Learning Outcomes

4-1: Demand

4-2: What Shifts a Demand Curve?

4-3: Supply

4-4: What Shifts a Supply Curve?

4-5: Demand and Supply Create a Market

4-6: Changes in Equilibrium Price and Quantity

4-7: Disequilibrium

4-8: Final Word

Study Tools 4

Chapter 4: Problems

Ch 5: Introduction to Macroeconomics

Ch 5: Learning Outcomes

5-1: The National Economy

5-2: Economic Fluctuations and Growth

5-3: Aggregate Demand and Aggregate Supply

5-4: A Brief History of the U.s. Economy

5-5: Final Word

Study Tools 5

Chapter 5: Problems

Ch 6: Tracking the U.S. Economy

Ch 6: Learning Outcomes

6-1: The Product of a Nation

6-2: Circular Flow of Income and Expenditure

6-3: Limitations of National Income Accounting

6-4: Accounting for Price Changes

6-5: Final Word

Study Tools 6

Chapter 6: Problems

Ch 7: Unemployment and Inflation

Ch 7: Learning Outcomes

7-1: Unemployment: Its Measure and Sources

7-2: Other Unemployment Issues

7-3: Inflation: Its Measure and Sources

7-4: Effects of Inflation

7-5: Final Word

Study Tools 7

Chapter 7: Problems

Ch 8: Productivity and Growth

Ch 8: Learning Outcomes

8-1: The Theory of Productivity and Growth

8-2: Productivity and Growth in Practice

8-3: Other Issues of Technology and Growth

8-4: Final Word

Study Tools 8

Chapter 8: Problems

Ch 9: Aggregate Demand

Ch 9: Learning Outcomes

9-1: Consumption

9-2: Nonincome Determinants of Consumption

9-3: Other Spending Components

9-4: Aggregate Expenditure and Income

9-5: The Simple Spending Multiplier

9-6: The Aggregate Demand Curve

9-7: Final Word

Study Tools 9

Chapter 9: Problems

Ch 10: Aggregate Supply

Ch 10: Learning Outcomes

10-1: Aggregate Supply in the Short Run

10-2: From the Short Run to the Long Run

10-3: Aggregate Supply in the Long Run

10-4: Changes in Aggregate Supply

10-5: Final Word

Study Tools 10

Chapter 10: Problems

Ch 11: Fiscal Policy

Ch 11: Learning Outcomes

11-1: Theory of Fiscal Policy

11-2: Fiscal Policy Up to the Stagflation of the 1970s

11-3: Limits on Fiscal Policy’s Effectiveness

11-4: Fiscal Policy from 1980 to 2007

11-5: Fiscal Policy During and After the Great Recession

11-6: Final Word

Study Tools 11

Chapter 11: Problems

Ch 12: Federal Budgets and Public Policy

Ch 12: Learning Outcomes

12-1: The Federal Budget Process

12-2: Fiscal Impact of the Federal Budget

12-3: The National Debt in Perspective

12-4: Federal Debt and the Economy

12-5: Final Word

Study Tools 12

Chapter 12: Problems

Ch 13: Money and the Financial System

Ch 13: Learning Outcomes

13-1: The Birth of Money

13-2: Money and Banking

13-3: Financial Institutions in the United States

13-4: Banking During and After the Great Recession of 2007–2009

13-5: Final Word

Study Tools 13

Chapter 13: Problems

Ch 14: Banking and the Money Supply

Ch 14: Learning Outcomes

14-1: Money Aggregates

14-2: How Banks Work

14-3: How Banks Create Money

14-4: The Fed’s Tools of Monetary Control

14-5: Final Word

Study Tools 14

Chapter 14: Problems

Ch 15: Monetary Theory and Policy

Ch 15: Learning Outcomes

15-1: The Demand and Supply of Money

15-2: Money and Aggregate Demand in the Short Run

15-3: Money and Aggregate Demand in the Long Run

15-4: Targets for Monetary Policy

15-5: Final Word

Study Tools 15

Chapter 15: Problems

Ch 16: Macro Policy Debate: Active or Passive?

Ch 16: Learning Outcomes

16-1: Active Policy Versus Passive Policy

16-2: The Role of Expectations

16-3: Policy Rules Versus Discretion

16-4: The Phillips Curve

16-5: Final Word

Study Tools 16

Chapter 16: Problems

Ch 17: International Trade

Ch 17: Learning Outcomes

17-1: The Gains from Trade

17-2: Trade Restrictions and Welfare Loss

17-3: Efforts to Reduce Trade Barriers

17-4: Arguments for Trade Restrictions

17-5: Final Word

Study Tools 17

Chapter 17: Problems

Ch 18: International Finance

Ch 18: Learning Outcomes

18-1: Balance of Payments

18-2: Foreign Exchange Rates and Markets

18-3: Other Factors Influencing Foreign Exchange Markets

18-4: International Monetary System

18-5: Final Word

Study Tools 18

Chapter 18: Problems

Ch 19: Economic Development

Ch 19: Learning Outcomes

19-1: Worlds Apart

19-2: Productivity: Key to Development

19-3: International Trade and Development

19-4: Foreign Aid and Economic Development

19-5: Final Word

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Test bank for ECON MACRO 5th Edition by William A. McEachern