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ECONOMICS A CONTEMPORARY INTRODCTION 10TH EDITION BY WILLIAM A. MCEARCHERN SOLUTIONS MANUAL
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ECONOMICS A CONTEMPORARY INTRODCTION 10TH EDITION BY WILLIAM A. MCEARCHERN SOLUTIONS MANUAL
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, ECONOMICS A CONTEMPORARY INTRODCTION10TH EDITION BY WILLIAM A. MCEARCHERN
SOLUTIONS MANUAL
CONTENTS
Introduction ..................................................................................................................................... 1
1 The Art and Science of Economic Analysis .................................................................................... 3
2 Economic Tools and Economic Systems .......................................................................................... 6
3 Economic Decision Makers ............................................................................................................. 9
4 Demand, Supply, and Markets....................................................................................................... 12
5 Elasticity of Demand and Supply .................................................................................................. 15
6 Consumer Choice and Demand ..................................................................................................... 18
7 Production and Cost in the Firm .................................................................................................... 21
8 Perfect Competition ....................................................................................................................... 24
9 Monopoly....................................................................................................................................... 27
10 Monopolistic Competition and Oligopoly ..................................................................................... 30
11 Resource Markets .......................................................................................................................... 33
12 Labor Markets and Labor Unions .................................................................................................. 36
13 Capital, Interest, Entrepreneurship, and Corporate Finance .......................................................... 40
14 Transaction Costs, Imperfect Information, and Behavioral Economics ........................................ 43
15 Economic Regulation and Antitrust Policy.................................................................................... 46
16 Public Goods and Public Choice ................................................................................................... 49
17 Externalities and the Environment................................................................................................. 52
18 Income Distribution and Poverty ................................................................................................... 55
19 Introduction to Macroeconomics ................................................................................................... 58
20 Tracking the U.S. Economy........................................................................................................... 61
21 Unemployment and Inflation ......................................................................................................... 64
22 Productivity and Growth ............................................................................................................... 67
23 Aggregate Expenditure and Aggregate Demand......................................................................... 70
,iii
, 24 Aggregate Supply ........................................................................................................................... 73
25 Fiscal Policy ................................................................................................................................... 76
26 Federal Budgets and Public Policy ................................................................................................. 79
27 Money and the Financial System ................................................................................................... 82
28 Banking and the Money Supply ..................................................................................................... 85
29 Monetary Theory and Policy .......................................................................................................... 88
30 Macro Policy Debate: Active or Passive? ...................................................................................... 91
31 International Trade ......................................................................................................................... 94
32 International Finance ...................................................................................................................... 97
33 Economic Development ............................................................................................................... 100
Appendix A: Classroom Presentation........................................................................................... 103
Appendix B: Leading a Discussion .............................................................................................. 111
Appendix C: Quizzes and Exams ................................................................................................. 116
Appendix D: Special Challenges Facing the Foreign Graduate Assistant.................................... 121
iv Contents
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