Instant download Test Bank for Economics Private and Public Choice 14th Edition David A Macpherson Download pdf docx epub after payment.
Product details:
- ISBN-10 : 1111970211
- ISBN-13 : 978-1111970215
- Author:
ECONOMICS: PRIVATE AND PUBLIC CHOICE, 14TH EDITION reflects current economic conditions, enabling you to apply economic concepts to the real world. The up-to-date text includes analysis and explanation of measures of economic activity in today’s market. It also includes highlights of the recession of 2008-2009, and an in-depth look at the lives and contributions of notable economists. ECONOMICS: PRIVATE AND PUBLIC CHOICE dispels common economic myths. The text uses the “invisible hand” metaphor to explain economic theory, demonstrating how it works to stimulate the economy. The 14th edition includes a robust set of online multimedia learning tools with video clips and free quizzes designed to support classroom work. A completely updated Aplia interactive learning system is also available–with practice problems, interactive tutorials, online experiences and more.
Table of contents:
Suggested Outlines for One-Semester Courses
Preface
Acknowledgments
I The Economic Way of Thinking – An Introduction
1 The Economic Approach
What Is Economics About?
Man’s Losing Struggle with Scarcity
The Economic Way of Thinking
Normative and Positive Economics
Looking for Action?—Try Economics
Myths of Economics: “Economics rejects the humanitarian side of man.”
Perspectives in Economics: Do Material Goods Bring Happiness?
2 Some Tools of the Economist
Opportunity Cost Is the Highest Valued Opportunity Lost
The Production Possibilities Curve
Trade Tips and Comparative Advantage
Dependence, Specialization, and Exchange
Three Economizing Decisions Facing All Nations: What, How, and for Whom
Two Methods of Making Decisions—The Market and Government Planning
Myths of Economics: “In exchange, if someone gains, someone else must lose. Trading is a zero-sum game.”
3 Market Decisions and the Market Process
Scarcity Necessitates Rationing
Consumer Choice and the Law of Demand
Producer’s Choice and the Law of Supply
Price and Market Equilibrium
Shifts in Demand and Advice on How to Pass Your First Economics Exam
Shifts in Supply
Time and the Adjustment Process
Supply and Demand in Action
Repealing the Laws of Supply and Demand
Rationing and Motivating, the Two Great Attributes of the Market
Myths of Economics: “Rent controls are an effective method of assuring adequate housing at a price the poor can afford.”
4 A Bird’s-Eye View of the Public Sector
Ideal Economic Efficiency
Why Might the Invisible Hand Fail?
Government—A Potential Vehicle for Gain
Redistribution—Dividing the Economic Pie
The Market and the Public Sector—Two Methods of Economic Organization
Conflicts between Good Economics and Good Politics
Outstanding Economist: James Buchanan
5 Taxes and Government Spending
What Do Federal, State, and Local Governments Buy?
Sources of Tax Revenues
The Concept of Incidence
Who Pays the Tax Bill?
The Taxes Others Paid
Myths of Economics: “The growth of the federal government has been the major source of government expansion.”
Controversies in Economics: Is There an Energy Crisis or a Policy Crisis?
II Macroeconomics
6 Taking the Nation’s Economic Pulse
The Concept of the GNP
Two Ways of Measuring GNP
Gross National Product or Gross National Cost?
Five Problems with GNP as a Measuring Rod
What the GNP Does Not Measure
The Great Contribution of GNP
Other Related Income Measures
Outstanding Economist: Simon Kuznets
7 Unemployment, Inflation, and Business Cycles
Swings in the Economic Pendulum
A Hypothetical Business Cycle
Three Different Views of the Business Cycle
The Normal Rate of Unemployment
Cyclical Unemployment
Actual and Potential GNP
Questions and Answers about Inflation
Myths of Economics: “Unemployed resources would not exist if the economy were operating efficiently.”
8 Aggregate Equilibrium and a Simple Keynesian Model
Keynes and the Views of Classical Economists
Tools of Modern Keynesian Analysis
Equilibrium and the Keynesian Model
Adding Government Demand
Leakages and Injections—Another Way of Looking at Equilibrium
Pulling It Together
Outstanding Economist: John Maynard Keynes
9 The Multiplier, Accelerator, and a Keynesian View of the Business Cycle
The Multiplier Principle
Business Pessimism – A Self-Fulfilling Prophecy
Investment Instability and the Accelerator
A Keynesian View of the Business Cycle
Investment and the Cycle
10 Fiscal Policy
Public Policy to Deal with a Recession
Fiscal Policy to Deal with Inflation
The Central Idea of Fiscal Policy
The Full-Employment Budget Concept
Has Real World Fiscal Policy Been Stabilizing?
Automatic Stabilizers
Spending versus Taxing Alternatives
Outstanding Economist: Walter Heller
Perspectives in Economics: Fact and Fiction about the National Debt
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