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Test bank for ECON MACRO 6th Edition by William A. McEachern

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Test bank for ECON MACRO 6th Edition by William A. McEachern

Test bank for ECON MACRO 6th Edition by William A. McEachern

Learn Macroeconomics YOUR Way with ECON MACRO! ECON MACRO’s easy-reference, paperback textbook presents course content through visually-engaging chapters as well as Chapter Review Cards that consolidate the best review material into a ready-made study tool. With the textbook or on its own, ECON MACRO MindTap allows you to learn on your terms. Read or listen to textbooks and study with the aid of instructor notifications, flashcards and practice quizzes. Track your scores and stay motivated toward your goals. Whether you have more work to do or are ahead of the curve, you’ll know where you need to focus your efforts. And the MindTap Green Dot will charge your confidence along the way. When it’s time to study, everything you’ve flagged or noted can be gathered into a guide you can organize.

Part 1: Introduction to Economics

Chapter 1: The Art and Science of Economic Analysis

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 Economist Are So Smart, Why Aren’t They Rich?

1-6 Final Word

Appendix

Chapter 2: Economic Tools and Ecomonic Systems

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

Chapter 3: Economic Decision Makers

3-1 The Household

3-2 The Firm

3-3 The Government

3-4 The Rest of the World

3-5 Final Word

Chapter 4: Demand, Supply, and Markets

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

Part 2: Fundamentals of Macroeconomics

Chapter 5: Introduction to Macroeconomics

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

Chapter 6: Tracking the U.S. Economy

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

Chapter 7: Unemployment and Inflation

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

Chapter 8: Productivity and Growth

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

Chapter 9: Aggregate Demand

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

Chapter 10: Aggregate Supply

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

Part 3: Fiscal and Monetary Policy

Chapter 11: Fiscal Policy

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

Chapter 12: Federal Budgets and Public Policy

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

Chapter 13: Money and the Financial System

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

Chapter 14: Banking and the Money Supply

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

Chapter 15: Monetary Theory and Policy

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

Chapter 16: Macro Policy Debate: Active or Passive?

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

Part 4: International Economics

Chapter 17: International Trade

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

Chapter 18: International Finance

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

Chapter 19: Economic Development

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 6th Edition by William A. McEachern