TABLE OF CONTENTS
Preface
Contributors
To the Student
1 The Nature and Method of Economics
2 The Economizing Problem
3 Understanding Individual Markets: Demand and Supply
4 Pure Capitalism and the Market System
5 The Mixed Economy: Private and Public Sectors
6 The United States in the Global Economy
7 Measuring Domestic Output, National Income, and the Price Level
8 Macroeconomic Instability: Unemployment and Inflation
9 Building the Aggregate Expenditures Model
10 Aggregate Expenditures: The Multiplier, Net Exports, and Government
11 Aggregate Demand and Aggregate Supply
12 Fiscal Policy
13 Money and Banking
14 How Banks Create Money
15 The Federal Reserve Banks and Monetary Policy
16 Alternative Views on Macro Theory and Policy
17 The Inflation-Unemployment Relationship
18 Budget Deficits and the Public Debt
19 Economic Growth
20 International Trade
21 Exchange Rates, the Balance of Payments, and Trade Deficits
22 Growth and the Less Developed Countries
23 Russia: An Economy in Transition
Answers to Key Questions A-1
Glossary G-1
Index