Amazon no longer offers textbook rentals. We do!

Contemporary Economics With Infotrac: An Application Approach

by: Carbaugh, Robert J.

Contemporary Economics With Infotrac: An Application Approach

by: Carbaugh, Robert J.

ISBN 13:
9780324314625
ISBN 10:
0324314620
Edition: 4th
Format: Paperback
Copyright: 11/18/2005
Publisher: South-Western College Pub

Rent

Sorry, this item is currently unavailable.

Note: Supplemental materials are not guaranteed with Rental or Used book purchases.

Extend or Purchase Your Rental at Any Time

Need to keep your rental past your due date? At any time before your due date you can extend or purchase your rental through your account.

Summary

With its focus on real world cases and applications, CONTEMPORARY ECONOMICS has earned a reputation for being student-oriented and easy to understand. Inside, you'll find out how economics can save you money, how it works internationally, and how it impacts government policies. Best of all, this easy-to-read version helps you review for class and improve your grades on tests.

Introduction	p. 1
Scarcity and Choice	p. 2
What Is Economics?	p. 3
The Economic Way of Thinking	p. 5
Scarcity	p. 6
Scarcity and Opportunity Cost	p. 8
The Production Possibilities Curve and Opportunity Cost	p. 11
Economic Growth	p. 14
Economic Decline	p. 15
Economic Growth: Trade-Offs Between Current and Future Consumption	p. 16
Production Possibilities Applications	p. 17
Chapter Summary	p. 21
Key Terms and Concepts	p. 22
Self-Test: Multiple-Choice Questions	p. 22
Study Questions and Problems	p. 23
Exploring Further 1.1: A Primer on Tables and Graphs	p. 24
The Microeconomy	p. 29
Market Transactions: Demand and Supply Analysis	p. 30
Markets	p. 31
Demand	p. 32
Supply	p. 36
Demand, Supply, and Equilibrium	p. 40
Shifts in Demand and Supply	p. 42
Contemporary Applications of Supply and Demand	p. 45
Chapter Summary	p. 48
Key Terms and Concepts	p. 49
Self-Test: Multiple-Choice Questions	p. 50
Study Questions and Problems	p. 51
Demand and Supply Applications	p. 55
Price Elasticity of Demand	p. 56
Determinants of Price Elasticity of Demand	p. 58
Airlines Fail to Pass on Full 10-Percent Ticket Tax to Passengers	p. 59
Price Elasticity of Demand and Total Revenue	p. 61
Applications of Price Elasticity of Demand and Total Revenue	p. 62
Price Ceilings and Price Floors	p. 65
Chapter Summary	p. 69
Key Terms and Concepts	p. 70
Self-Test: Multiple-Choice Questions	p. 70
Study Questions and Problems	p. 71
Exploring Further 3.1: Why is Health Care So Expensive?	p. 73
Production and the Costs of Production	p. 77
Short Run versus Long Run	p. 78
Production Function	p. 79
Short-Run Production	p. 79
Short-Run Production Costs	p. 84
Long-Run Production Costs	p. 87
Shifts in Cost Curves	p. 92
Costs and Profit	p. 93
Chapter Summary	p. 95
Key Terms and Concepts	p. 96
Self-Test: Multiple-Choice Questions	p. 96
Study Questions and Problems	p. 98
Competition and Monopoly: Virtues and Vices	p. 101
Perfect Competition	p. 102
Perfect Competition: Profit Maximization in the Short Run	p. 104
Perfect Competition: Long-Run Adjustments and Economic Efficiency	p. 106
Monopoly	p. 109
Barriers to Entry	p. 111
Cable Television: Why Rates Are So High	p. 114
De Beers: The "Gift of Love"	p. 115
Profit Maximization for a Monopoly	p. 116
The Case Against Monopoly	p. 119
Legal Monopoly Examples	p. 120
Chapter Summary	p. 123
Key Terms and Concepts	p. 123
Self Test: Multiple-Choice Questions	p. 123
Study Questions and Problems	p. 125
Exploring Further 5.1: Loss Minimization and the Shut-Down Rule	p. 128
Imperfect Competition	p. 131
Concentration Ratios	p. 132
Monopolistic Competition	p. 134
Despite Competition from Starbucks, Most Independent Coffeehouses Survive	p. 136
Advertising	p. 138
Price Discrimination	p. 140
Oligopoly	p. 141
Rivalry in the Soft Drink Industry	p. 142
Game Theory and Oligopoly Behavior	p. 143
Are Airbus' Subsidies the Reason for Boeing's Nosedive?	p. 146
Collusion and Cartels	p. 147
Mergers and Oligopoly	p. 148
Chapter Summary	p. 150
Key Terms and Concepts	p. 150
Self-Test: Multiple-Choice Questions	p. 151
Study Questions and Problems	p. 152
Labor Market Issues	p. 155
Labor Market Equilibrium	p. 156
Do the Minimum Wage Laws Help Workers?	p. 159
Popeyes' Restaurants Fret Over How to Handle a Minimum-Pay Rise	p. 162
Are Workers Better Off with Labor Unions?	p. 164
Outsourcing of Jobs: Threat or Opportunity for U.S. Workers?	p. 168
Do Liberal Immigration Laws Harm American Workers?	p. 170
Chapter Summary	p. 173
Key Terms and Concepts	p. 173
Self-Test: Multiple-Choice Questions	p. 174
Study Questions and Problems	p. 175
Exploring Further 7.1: A Firm's Hiring Decision	p. 177
Government and Markets	p. 179
Market Failure	p. 180
Monopoly Power	p. 181
Antitrust Policy	p. 181
Economic Regulation and Deregulation	p. 183
Public Utility Regulation	p. 183
Partial Deregulation of Electricity Shocks Californians	p. 185
Peak-Load Pricing: Buying Power by the Hour	p. 186
Spillover Effects	p. 188
Should Government Subsidize Professional Sports?	p. 191
Social Regulation	p. 193
Public Goods	p. 195
Inadequate Information	p. 196
Economic Inequality	p. 197
Chapter Summary	p. 198
Key Terms and Concepts	p. 198
Self-Test: Multiple-Choice Questions	p. 199
Study Questions and Problems	p. 200
The Macroeconomy	p. 203
The Mixed Economy of the United States	p. 204
Households as Income Receivers	p. 205
Sources of Income Inequality	p. 206
Households as Spenders	p. 207
The Business Sector	p. 208
Government in the Mixed Economy	p. 210
Reforming Our Social Security System	p. 211
Government Finance	p. 214
Taxation Principles: Benefits-Received versus Ability to Pay	p. 216
Progressive, Regressive, and Proportional Taxes	p. 217
The U.S. Tax Structure	p. 219
Should the U.S. Tax System Be Reformed?	p. 222
Chapter Summary	p. 225
Key Terms and Concepts	p. 226
Self-Test: Multiple-Choice Questions	p. 226
Study Questions and Problems	p. 228
Gross Domestic Product and Economic Growth	p. 231
Measuring an Economy's Output	p. 232
Gross Domestic Product	p. 233
The Components of GDP	p. 234
What GDP Does Not Measure	p. 236
Real GDP versus Nominal GDP	p. 237
Long-Run Economic Growth	p. 239
What Determines Economic Growth?	p. 240
Theories of Economic Growth	p. 248
Is Economic Growth Desirable?	p. 250
Chapter Summary	p. 251
Key Terms and Concepts	p. 252
Self-Test: Multiple-Choice Questions	p. 252
Study Questions and Problems	p. 254
The Business Cycle, Unemployment, and Inflation	p. 257
Business Cycles	p. 258
Unemployment	p. 263
Jobless Expansions: The Productivity and Jobs Connection	p. 268
Inflation	p. 271
Who Benefits From and Who Is Hurt by Inflation?	p. 273
Effects of Severe Inflation	p. 277
Causes of Inflation	p. 278
Chapter Summary	p. 279
Key Terms and Concepts	p. 280
Self-Test: Multiple-Choice Questions	p. 280
Study Questions and Problems	p. 282
Macroeconomic Instability: Aggregate Demand and Aggregate Supply	p. 285
Stability of the Macroeconomy	p. 286
Aggregate Demand and Aggregate Supply	p. 289
Aggregate Demand	p. 290
The Multiplier Effect	p. 292
Aggregate Supply	p. 293
The Origins of Recession	p. 296
The Origins of Inflation Revisited	p. 298
Chapter Summary	p. 301
Key Terms and Concepts	p. 301
Self-Test: Multiple-Choice Questions	p. 302
Study Questions and Problems	p. 303
Exploring Further 12.1: The Nature and Operation of the Multiplier Effect	p. 304
Fiscal Policy and the Federal Budget	p. 309
Fiscal Policy	p. 310
Fiscal Policy and Aggregate Demand	p. 311
Fiscal Policy in Action	p. 314
Automatic Stabilizers	p. 316
Problems of Fiscal Policy	p. 318
Fiscal Policy and Aggregate Supply	p. 320
Federal Deficit and Federal Debt	p. 323
Is the Federal Debt Good or Bad?	p. 325
Should There Be a Balanced-Budget Amendment?	p. 326
Chapter Summary	p. 327
Key Terms and Concepts	p. 327
Self-Test: Multiple-Choice Questions	p. 328
Study Questions and Problems	p. 329
Exploring Further 13.1: Fiscal Policy and the Multiplier	p. 331
Money and the Banking System	p. 333
The Meaning of Money	p. 334
Shopping for a Credit Card	p. 336
U.S. Money Supply	p. 338
What Backs the Money Supply?	p. 343
Measuring the Money Supply: M[subscript 1] Money Supply	p. 345
How Your Money Grows Over Time: Compound Interest	p. 346
The Business of Banking	p. 348
The Process of Money Creation	p. 350
The Federal Deposit Insurance Corporation	p. 351
Chapter Summary	p. 352
Key Terms and Concepts	p. 353
Self-Test: Multiple-Choice Questions	p. 354
Study Questions and Problems	p. 355
The Federal Reserve and Monetary Policy	p. 357
The Federal Reserve System	p. 358
Monetary Policy	p. 363
Shifting Aggregate Demand	p. 366
The Recession of 2001 and the Federal Reserve	p. 368
Monetary Policy: Advantages and Disadvantages	p. 371
Should Congress Reduce the Independence of the Federal Reserve?	p. 373
Chapter Summary	p. 374
Key Terms and Concepts	p. 374
Self-Test: Multiple-Choice Questions	p. 375
Study Questions and Problems	p. 376
The International Economy	p. 379
The United States and the Global Economy	p. 380
The United States as an Open Economy	p. 381
The Advantages of Specialization and Trade	p. 382
Comparative Advantage And International Trade	p. 383
Why are Free Trade and Globalization Controversial?	p. 387
Limiting Foreign Competition: Tariffs	p. 389
Arguments for Trade Restrictions	p. 391
Pursuing Trade Liberalization	p. 393
World Trade Organization	p. 394
North American Free Trade Agreement	p. 395
Chapter Summary	p. 396
Key Terms and Concepts	p. 397
Self-Test: Multiple-Choice Questions	p. 397
Study Questions and Problems	p. 398
International Finance	p. 401
The Balance of Payments	p. 402
The U.S. Balance of Payments	p. 404
Foreign Exchange Market	p. 407
Is a Strong Dollar Good? Is a Weak Dollar Bad?	p. 408
Exchange Rate Determination	p. 409
Exchange Rate Systems	p. 412
Monetary Integration for Europe and the United States	p. 413
Chapter Summary	p. 416
Key Terms and Concepts	p. 417
Self-Test: Multiple-Choice Questions	p. 417
Study Questions and Problems	p. 419
Economic Systems and the Developing Countries	p. 423
Economic Systems and the Fundamental Economic Questions	p. 424
Transition Economies	p. 428
The Economics of Developing Countries	p. 430
Obstacles to Economic Development	p. 430
Tensions between Developing Countries and Advanced Countries	p. 434
Economic Growth Strategies	p. 435
Aiding the Developing Countries	p. 436
Chapter Summary	p. 438
Key Terms and Concepts	p. 438
Self-Test: Multiple-Choice Questions	p. 439
Study Questions and Problems	p. 440
Glossary	p. 441
Index	p. 453
Table of Contents provided by Ingram. All Rights Reserved.

Amazon no longer offers textbook rentals. We do!

Contemporary Economics With Infotrac: An Application Approach

Contemporary Economics With Infotrac: An Application Approach

9780324314625

0324314620

Summary

Table of Contents

Supplemental Materials

Write a Review

Amazon no longer offers textbook rentals. We do!

Contemporary Economics With Infotrac: An Application Approach

Contemporary Economics With Infotrac: An Application Approach

9780324314625

0324314620

Summary

Table of Contents

Supplemental Materials

Write a Review

Related Products