Principles of Macroeconomics
Principles of Macroeconomics
- ISBN 13:
9780132226455
- ISBN 10:
0132226456
- Edition: 8th
- Format: Paperback
- Copyright: 01/01/2009
- Publisher: Pearson College Div
- Newer Edition
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Summary
Case and Fair is the trusted Macroeconomics text that teaches students through stories, graphs, and equations...and now, a new emphasis on excellence in assessment. These two highly-respected economists and educators have revised this best-selling Macroeconomics book to include more current topics and events while maintaining its hallmark feature of teaching economics through stories, graphs, and equations; relevant to students with various learning styles (verbal, visual, and numerical).
Table of Contents
Read morePreface | p. xvii |
Introduction to Economics | p. 1 |
The Scope and Method of Economics | p. 1 |
Why Study Economics? | p. 2 |
To Learn a Way of Thinking | p. 2 |
To Understand Society | p. 4 |
News Analysis: Economics and Global Affairs in 2005 | p. 5 |
To Understand Global Affairs | p. 6 |
To Be an Informed Voter | p. 6 |
The Scope of Economics | p. 7 |
Microeconomics and Macroeconomics | p. 8 |
The Diverse Fields of Economics | p. 8 |
Further Exploration: The Fields of Economics | p. 9 |
The Method of Economics | p. 10 |
Theories and Models | p. 11 |
Economic Policy | p. 14 |
An Invitation | p. 16 |
Summary | p. 16 |
Review Terms and Concepts | p. 16 |
Problem Set | p. 17 |
How to Read and Understand Graphs | p. 17 |
The Economic Problem: Scarcity and Choice | p. 25 |
Scarcity, Choice, and Opportunity Cost | p. 26 |
Scarcity and Choice in a One-Person Economy | p. 26 |
News Analysis Opportunity Costs and Internships | p. 27 |
Scarcity and Choice in an Economy of Two or More | p. 28 |
The Production Possibility Frontier | p. 31 |
Comparative Advantage and the Gains from Trade | p. 36 |
The Economic Problem | p. 39 |
Economic Systems | p. 39 |
Command Economies | p. 39 |
Laissez-Faire Economies: The Free Market | p. 40 |
Mixed Systems, Markets, and Governments | p. 41 |
Looking Ahead | p. 42 |
Summary | p. 42 |
Review Terms and Concepts | p. 43 |
Problem Set | p. 43 |
Demand, Supply, and Market Equilibrium | p. 47 |
Firms and Households: The Basic Decision-Making Units | p. 48 |
Input Markets and Output Markets: The Circular Flow | p. 48 |
Demand in Product/Output Markets | p. 50 |
Changes in Quantity Demanded Versus Changes in Demand | p. 51 |
Price and Quantity Demanded: The Law of Demand | p. 51 |
Other Determinants of Household Demand | p. 54 |
Shift of Demand versus Movement Along a Demand Curve | p. 56 |
From Household Demand to Market Demand | p. 57 |
Supply in Product/Output Markets | p. 59 |
Price and Quantity Supplied: The Law of Supply | p. 60 |
Other Determinants of Supply | p. 61 |
Shift of Supply versus Movement along a Supply Curve | p. 62 |
From Individual Supply to Market Supply | p. 63 |
Market Equilibrium | p. 64 |
Excess Demand | p. 65 |
Excess Supply | p. 66 |
Changes in Equilibrium | p. 67 |
Demand and Supply in Product Markets: A Review | p. 70 |
Looking Ahead: Markets and the Allocation of Resources | p. 70 |
News Analysis: Mad Cow Disease Cuts Demand for Cattle in 2005 | p. 71 |
Summary | p. 72 |
Review Terms and Concepts | p. 73 |
Problem Set | p. 73 |
Demand and Supply Applications | p. 77 |
The Price System: Rationing and Allocating Resources | p. 77 |
Price Rationing | p. 77 |
Constraints on the Market and Alternative Rationing Mechanisms | p. 79 |
News Analysis: Hurricane Katrina and Gasoline Prices in 2005 | p. 83 |
Prices and the Allocation of Resources | p. 84 |
Price Floors | p. 84 |
Supply and Demand Analysis: An Oil Import Fee | p. 85 |
Supply and Demand and Market Efficiency | p. 86 |
Consumer Surplus | p. 87 |
Producer Surplus | p. 88 |
Competitive Markets Maximize the Sum of Producer and Consumer Surplus | p. 89 |
Potential Causes of Deadweight Loss from Under- and Overproduction | p. 89 |
Further Exploration: The Drug Wars: A Matter of Supply and Demand | p. 90 |
Looking Ahead | p. 91 |
Summary | p. 91 |
Review Terms and Concepts | p. 92 |
Problem Set | p. 92 |
Concepts and Problems in Macroeconomics | p. 95 |
Introduction to Macroeconomics | p. 95 |
The Roots of Macroeconomics | p. 96 |
The Great Depression | p. 96 |
Recent Macroeconomic History | p. 96 |
Further Exploration: The Great Depression and John Maynard Keynes | p. 97 |
Macroeconomic Concerns | p. 98 |
Inflation and Deflation | p. 98 |
Output Growth: Short Run and Long Run | p. 99 |
Unemployment | p. 99 |
Government in the Macroeconomy | p. 100 |
Fiscal Policy | p. 100 |
Monetary Policy | p. 100 |
Further Exploration: Macroeconomic Concerns from the Federal Reserve in 2005 | p. 101 |
Growth Policies | p. 101 |
The Components of the Macroeconomy | p. 102 |
The Circular Flow Diagram | p. 102 |
The Three Market Arenas | p. 103 |
The Methodology of Macroeconomics | p. 104 |
Connections to Microeconomics | p. 105 |
Aggregate Demand and Aggregate Supply | p. 105 |
The U.S. Economy Since 1900: Trends and Cycles | p. 106 |
Expansion and Contraction: The Business Cycle | p. 106 |
The U.S. Economy Since 1970 | p. 107 |
Summary | p. 110 |
Review Terms and Concepts | p. 110 |
Problem Set | p. 111 |
Measuring National Output and National Income | p. 113 |
Gross Domestic Product | p. 113 |
Final Goods and Services | p. 114 |
Exclusion of Used Goods and Paper Transactions | p. 114 |
Exclusion of Output Produced Abroad by Domestically Owned Factors of Production | p. 115 |
Calculating GDP | p. 115 |
The Expenditure Approach | p. 116 |
Further Exploration GDP: One of the Great Inventions of the 20th Century-Survey of Current Business | p. 118 |
The Income Approach | p. 120 |
Nominal versus Real GDP | p. 122 |
Calculating Real GDP | p. 122 |
Calculating the GDP Deflator | p. 124 |
The Problems of Fixed Weights | p. 124 |
Limitations of the GDP Concept | p. 125 |
GDP and Social Welfare | p. 125 |
The Underground Economy | p. 126 |
Gross National Income Per Capita | p. 126 |
Looking Ahead | p. 127 |
Summary | p. 127 |
Review Terms and Concepts | p. 128 |
Problem Set | p. 128 |
Long-Run and Short-Run Concerns: Growth, Productivity, Unemployment, and Inflation | p. 131 |
Long-Run Output and Productivity Growth | p. 132 |
Recessions, Depressions, and Unemployment | p. 134 |
Defining and Measuring Unemployment | p. 135 |
Components of the Unemployment Rate | p. 136 |
The Costs of Unemployment | p. 139 |
News Analysis: Jobs and Hurricanes in 2005 | p. 140 |
The Benefits of Recessions | p. 142 |
Inflation | p. 143 |
Defining Inflation | p. 143 |
Price Indexes | p. 143 |
The Costs of Inflation | p. 145 |
Further Exploration: World Economy in Transition: Bias in the US Consumer Price Index-Why It Could Be Important | p. 146 |
Inflation: Public Enemy Number One? | p. 147 |
Looking Ahead | p. 148 |
Summary | p. 148 |
Review Terms and Concepts | p. 149 |
Problem Set | p. 149 |
The Goods and Money Markets | p. 151 |
Aggregate Expenditure and Equilibrium Output | p. 151 |
Aggregate Output and Aggregate Income (Y) | p. 152 |
Income, Consumption, and Saving (Y, C, and S) | p. 153 |
Explaining Spending Behavior | p. 153 |
Planned Investment (I) | p. 157 |
Planned Aggregate Expenditure (AE) | p. 159 |
Equilibrium Aggregate Output (Income) | p. 160 |
The Saving/Investment Approach to Equilibrium | p. 163 |
News Analysis: Inventory Changes Signal Slower Growth | p. 164 |
Adjustment to Equilibrium | p. 164 |
The Multiplier | p. 165 |
The Multiplier Equation | p. 167 |
Further Exploration: The Paradox of Thrift | p. 169 |
The Size of the Multiplier in the Real World | p. 169 |
The Multiplier in Action: Recovering From the Great Depression | p. 170 |
Looking Ahead | p. 171 |
Summary | p. 171 |
Review Terms and Concepts | p. 171 |
Problem Set | p. 172 |
Deriving the Multiplier Algebraically | p. 173 |
The Government and Fiscal Policy | p. 175 |
Government in the Economy | p. 176 |
Government Purchases (G), Net Taxes (T), and Disposable Income (Y[subscript d]) | p. 176 |
Equilibrium Output: Y = C + I + G | p. 178 |
Fiscal Policy at Work: Multiplier Effects | p. 180 |
The Government Spending Multiplier | p. 181 |
The Tax Multiplier | p. 182 |
The Balanced-Budget Multiplier | p. 184 |
The Federal Budget | p. 186 |
The Budget | p. 186 |
News Analysis: The Effect of a Natural Disaster on Government Spending and Taxation, 2005 | p. 187 |
The Surplus or Deficit | p. 188 |
The Debt | p. 188 |
The Economy's Influence on the Government Budget | p. 189 |
Tax Revenues Depend on the State of the Economy | p. 189 |
Some Government Expenditures Depend on the State of the Economy | p. 189 |
Automatic Stabilizers | p. 190 |
Fiscal Drag | p. 190 |
Full-Employment Budget | p. 190 |
Looking Ahead | p. 191 |
Summary | p. 191 |
Review Terms and Concepts | p. 192 |
Problem Set | p. 192 |
Deriving the Fiscal Policy Multipliers | p. 193 |
The Case in Which Tax Revenues Depend on Income | p. 194 |
The Money Supply and the Federal Reserve System | p. 197 |
An Overview of Money | p. 197 |
What Is Money? | p. 197 |
News Analysis: Real Goods as a Store of Value During Inflation | p. 199 |
Commodity and Fiat Monies | p. 200 |
Measuring the Supply of Money in the United States | p. 200 |
The Private Banking System | p. 202 |
How Banks Create Money | p. 202 |
A Historical Perspective: Goldsmiths | p. 202 |
The Modern Banking System | p. 203 |
The Creation of Money | p. 205 |
The Money Multiplier | p. 207 |
The Federal Reserve System | p. 208 |
Functions of the Federal Reserve | p. 209 |
News Analysis: Japan's Battle with Deflation | p. 210 |
The Federal Reserve Balance Sheet | p. 210 |
How the Federal Reserve Controls the Money Supply | p. 212 |
The Required Reserve Ratio | p. 212 |
The Discount Rate | p. 213 |
Open Market Operations | p. 214 |
The Supply Curve for Money | p. 217 |
Looking Ahead | p. 218 |
Summary | p. 218 |
Review Terms and Concepts | p. 218 |
Problem Set | p. 219 |
Money Demand, the Equilibrium Interest Rate, and Monetary Policy | p. 221 |
The Demand for Money | p. 221 |
The Transaction Motive | p. 222 |
Money Management and the Optimal Balance | p. 222 |
News Analysis: Money Demand and Interest Rates | p. 224 |
The Speculation Motive | p. 226 |
The Total Demand for Money | p. 226 |
Further Exploration: The Bond Market, the Money Market, and the Speculation Motive | p. 227 |
Transactions Volume and the Price Level | p. 227 |
The Determinants of Money Demand: Review | p. 229 |
The Equilibrium Interest Rate | p. 229 |
Supply and Demand in the Money Market | p. 230 |
Changing the Money Supply to Affect the Interest Rate | p. 231 |
Increases in Y and Shifts in the Money Demand Curve | p. 232 |
Looking Ahead: The Federal Reserve and Monetary Policy | p. 233 |
Summary | p. 233 |
Review Terms and Concepts | p. 234 |
Problem Set | p. 234 |
The Various Interest Rates in the U.S. Economy | p. 235 |
The Demand For Money: A Numerical Example | p. 237 |
Macroeconomic Analysis | p. 239 |
Money, the Interest Rate, and Output: Analysis and Policy | p. 239 |
The Links Between the Goods Market and the Money Market | p. 239 |
Investment, the Interest Rate, and the Goods Market | p. 240 |
Money Demand, Aggregate Output (Income), and the Money Market | p. 242 |
Combining the Goods Market and the Money Market | p. 244 |
Expansionary Policy Effects | p. 244 |
News Analysis: Interest Rates and Housing | p. 247 |
Contractionary Policy Effects | p. 249 |
The Macroeconomic Policy Mix | p. 250 |
Other Determinants of Planned Investment | p. 250 |
Looking Ahead: The Price Level | p. 251 |
Summary | p. 251 |
Review Terms and Concepts | p. 252 |
Problem Set | p. 252 |
The Is-Lm Diagram | p. 253 |
Aggregate Demand, Aggregate Supply, and Inflation | p. 257 |
The Aggregate Demand Curve | p. 257 |
Deriving the Aggregate Demand Curve | p. 258 |
The Aggregate Demand Curve: A Warning | p. 259 |
Other Reasons for a Downward-Sloping Aggregate Demand Curve | p. 260 |
Aggregate Expenditure and Aggregate Demand | p. 261 |
Shifts of the Aggregate Demand Curve | p. 261 |
The Aggregate Supply Curve | p. 263 |
The Aggregate Supply Curve: A Warning | p. 263 |
Aggregate Supply in the Short Run | p. 264 |
Shifts of the Short-Run Aggregate Supply Curve | p. 266 |
The Equilibrium Price Level | p. 268 |
The Long-Run Aggregate Supply Curve | p. 269 |
Potential GDP | p. 269 |
Aggregate Demand, Aggregate Supply, and Monetary and Fiscal Policy | p. 271 |
Long-Run Aggregate Supply and Policy Effects | p. 272 |
News Analysis: A New Federal Reserve Chairman Nominated in 2005 | p. 273 |
Further Exploration: The Simple "Keynesian" Aggregate Supply Curve | p. 274 |
Causes of Inflation | p. 274 |
Inflation Versus Sustained Inflation: A Reminder | p. 274 |
Demand-Pull Inflation | p. 275 |
Cost-Push, or Supply-Side, Inflation | p. 275 |
Expectations and Inflation | p. 276 |
Money and Inflation | p. 277 |
Sustained Inflation as a Purely Monetary Phenomenon | p. 278 |
Looking Ahead | p. 278 |
Summary | p. 279 |
Review Terms and Concepts | p. 280 |
Problem Set | p. 280 |
The Labor Market, Unemployment, and Inflation | p. 281 |
The Labor Market: Basic Concepts | p. 281 |
The Classical View of the Labor Market | p. 282 |
News Analysis: Employment and Unemployment at the End of 2005 | p. 284 |
The Classical Labor Market and the Aggregate Supply Curve | p. 284 |
The Unemployment Rate and the Classical View | p. 285 |
Explaining the Existence of Unemployment | p. 286 |
Sticky Wages | p. 286 |
Efficiency Wage Theory | p. 287 |
Imperfect Information | p. 287 |
Minimum Wage Laws | p. 288 |
An Open Question | p. 288 |
The Short-Run Relationship Between The Unemployment Rate and Inflation | p. 288 |
The Phillips Curve: A Historical Perspective | p. 290 |
Aggregate Supply and Aggregate Demand Analysis and the Phillips Curve | p. 292 |
Expectations and the Phillips Curve | p. 293 |
Is There a Short-Run Trade-Off Between Inflation and Unemployment? | p. 293 |
The Long-Run Aggregate Supply Curve, Potential GDP, and the Natural Rate of Unemployment | p. 294 |
The Nonaccelerating Inflation Rate of Unemployment (NAIRU) | p. 295 |
Looking Ahead | p. 296 |
Summary | p. 297 |
Review Terms and Concepts | p. 297 |
Problem Set | p. 298 |
Macroeconomic Issues and Policy | p. 299 |
Time Lags Regarding Monetary and Fiscal Policy | p. 299 |
Stabilization: "The Fool in the Shower" | p. 299 |
Recognition Lags | p. 301 |
Implementation Lags | p. 301 |
Response Lags | p. 302 |
Monetary Policy | p. 303 |
Controlling the Interest Rate | p. 303 |
The Fed's Response to the State of the Economy | p. 304 |
Monetary Policy Since 1990 | p. 305 |
Inflation Targeting | p. 308 |
Fiscal Policy: Deficit Targeting | p. 309 |
News Analysis: Will the New Fed Chair Change to Inflation Targeting in 2006? | p. 310 |
The Effects of Spending Cuts on the Deficit | p. 310 |
Economic Stability and Deficit Reduction | p. 312 |
Summary | p. 313 |
Fiscal Policy Since 1990 | p. 313 |
Summary | p. 316 |
Review Terms and Concepts | p. 316 |
Problem Set | p. 316 |
The Stock Market and the Economy | p. 319 |
Stocks and Bonds | p. 319 |
Bonds | p. 319 |
Stocks | p. 320 |
Further Exploration: Reading a Bond Table | p. 321 |
Further Exploration: Reading the Stock Pages | p. 322 |
Determining the Price of a Stock | p. 322 |
The Stock Market Since 1948 | p. 323 |
Stock Market Effects on the Economy | p. 325 |
The Crash of October 1987 | p. 325 |
The Boom of 1995-2000 | p. 326 |
Fed Policy and the Stock Market | p. 330 |
The Post-Boom Economy | p. 330 |
News Analysis: Housing Wealth in 2006 | p. 331 |
Summary | p. 332 |
Review Terms and Concepts | p. 332 |
Problem Set | p. 332 |
Household and Firm Behavior in the Macroeconomy: A Further Look | p. 335 |
Households: Consumption and Labor Supply Decisions | p. 335 |
The Keynesian Theory of Consumption: A Review | p. 335 |
The Life-Cycle Theory of Consumption | p. 336 |
News Analysis: A New Pattern of Consumption and Income, 1946-1947 | p. 338 |
The Labor Supply Decision | p. 338 |
Interest Rate Effects on Consumption | p. 340 |
Government Effects on Consumption and Labor Supply: Texes and Transfers | p. 341 |
A Possible Employment Constraint on Households | p. 341 |
A Summary of Household Behavior | p. 342 |
The Household Sector Since 1970 | p. 343 |
Firms: Investment and Employment Decisions | p. 345 |
Expectations and Animal Spirits | p. 347 |
Excess Labor and Excess Capital Effects | p. 348 |
Inventory Investment | p. 349 |
A Summary of Firm Behavior | p. 350 |
The Firm Sector Since 1970 | p. 350 |
Productivity and the Business Cycle | p. 353 |
The Relationship Between Output and Unemployment | p. 354 |
The Size of the Multiplier | p. 355 |
Summary | p. 356 |
Review Terms and Concepts | p. 357 |
Problem Set | p. 358 |
Long-Run Growth | p. 359 |
The Growth Process: From Agriculture to Industry | p. 359 |
The Sources of Economic Growth | p. 361 |
An Increase in Labor Supply | p. 361 |
Increases in Physical Capital | p. 363 |
Increases in Human Capital | p. 364 |
Increases in Productivity | p. 364 |
Growth and Productivity in the United States | p. 365 |
Sources of Growth in the U.S. Economy: 1929-1982 | p. 366 |
Labor Productivity: 1952 I-2003 II | p. 367 |
Economic Growth and Public Policy | p. 368 |
Suggested Public Policies | p. 368 |
News Analysis: Productivity Gains in Health Care | p. 369 |
Further Exploration: Can We Really Measure Productivity Changes? | p. 370 |
Growth Policy: A Long-Run Proposition | p. 371 |
The Pros and Cons of Growth | p. 372 |
The Progrowth Argument | p. 372 |
The Antigrowth Argument | p. 373 |
Summary: No Right Answer | p. 375 |
Summary | p. 375 |
Review Terms and Concepts | p. 376 |
Problem Set | p. 376 |
Debates in Macroeconomics: Monetarism, New Classical Theory, and Supply-Side Economics | p. 379 |
Keynesian Economics | p. 379 |
Monetarism | p. 380 |
The Velocity of Money | p. 380 |
The Quantity Theory of Money | p. 381 |
Inflation as a Purely Monetary Phenomenon | p. 382 |
The Keynesian/Monetarist Debate | p. 383 |
New Classical Macroeconomics | p. 384 |
The Development of New Classical Macroeconomics | p. 384 |
News Analysis: Inflation and Money Supply in Latin America | p. 385 |
Rational Expectations | p. 385 |
Evaluating Rational-Expectations Theory | p. 388 |
Real Business Cycle Theory | p. 388 |
Supply-Side Economics | p. 389 |
Evaluating Supply-Side Economics | p. 390 |
Testing Alternative Macroeconomic Models | p. 391 |
Summary | p. 392 |
Review Terms and Concepts | p. 392 |
Problem Set | p. 393 |
The World Economy | p. 395 |
International Trade, Comparative Advantage, and Protectionism | p. 395 |
Trade Surpluses and Deficits | p. 396 |
The Economic Basis for Trade: Comparative Advantage | p. 396 |
Absolute Advantage versus Comparative Advantage | p. 397 |
Terms of Trade | p. 401 |
Exchange Rates | p. 402 |
The Sources of Comparative Advantage | p. 404 |
The Heckscher-Ohlin Theorem | p. 405 |
Other Explanations for Observed Trade Flows | p. 405 |
Trade Barriers: Tariffs, Export Subsidies, and Quotas | p. 405 |
News Analysis: New Trade Agreement with Central American and the Dominican Republic-2005 | p. 408 |
Free Trade or Protection? | p. 409 |
The Case for Free Trade | p. 409 |
The Case for Protection | p. 410 |
Further Exploration: A Petition | p. 412 |
An Economic Consensus | p. 413 |
Summary | p. 413 |
Review Terms and Concepts | p. 415 |
Problem Set | p. 415 |
Open-Economy Macroeconomics: The Balance of Payments and Exchange Rates | p. 417 |
The Balance of Payments | p. 418 |
The Current Account | p. 419 |
The Capital Account | p. 420 |
The United States as a Debtor Nation | p. 421 |
Equilibrium Output (Income) in an Open Economy | p. 422 |
The International Sector and Planned Aggregate Expenditure | p. 422 |
Imports and Exports and the Trade Feedback Effect | p. 424 |
Import and Export Prices and the Price Feedback Effect | p. 425 |
The Open Economy with Flexible Exchange Rates | p. 426 |
The Market for Foreign Exchange | p. 426 |
Factors That Affect Exchange Rates | p. 429 |
The Effects of Exchange Rates on the Economy | p. 432 |
News Analysis: The Dollar, China, and Trade in 2006 | p. 434 |
An Interdependent World Economy | p. 436 |
Summary | p. 436 |
Review Terms and Concepts | p. 437 |
Problem Set | p. 437 |
World Monetary Systems Since 1900 | p. 438 |
Globalization | p. 443 |
The Global Circular Flow | p. 443 |
A Brief History of Economic Globalization | p. 445 |
The Benefits and Costs of Globalization | p. 446 |
The Free-Trade Debate Revisited | p. 446 |
Trade, Growth, and Poverty | p. 448 |
The Globalization of Labor Markets: The Economics of Immigration and Outsourcing | p. 449 |
Capital Mobility | p. 452 |
News Analysis: Outsourcing Is Not Just Customer Service Reps in India | p. 453 |
Public Policy and Globalization | p. 454 |
Global Externalities and Public Goods | p. 454 |
Nongovernmental Organizations and International Economics: The Washington Consensus | p. 455 |
Globalization, Capitalism, and Democracy | p. 456 |
A Final Word | p. 457 |
Summary | p. 457 |
Review Terms and Concepts | p. 458 |
Problem Set | p. 458 |
Economic Growth in Developing and Transitional Economies | p. 459 |
Life in the Developing Nations: Population and Poverty | p. 460 |
Economic Development: Sources and Strategies | p. 461 |
The Sources of Economic Development | p. 462 |
Strategies for Economic Development | p. 463 |
News Analysis: Trade and Development in Africa-2003 | p. 466 |
Growth versus Development: The Policy Cycle | p. 467 |
Issues in Economic Development | p. 467 |
Population Growth | p. 468 |
Developing-Country Debt Burdens | p. 470 |
Economies in Transition | p. 471 |
Political Systems and Economic Systems: Socialism, Capitalism, and Communism | p. 472 |
Central Planning Versus the Market | p. 473 |
The End of the Soviet Union | p. 474 |
The Transition to a Market Economy | p. 474 |
Six Basic Requirements for Successful Transition | p. 474 |
News Analysis: Russia's Economy in 2005 | p. 475 |
Summary | p. 479 |
Review Terms and Concepts | p. 480 |
Problem Set | p. 480 |
Glossary | p. G-1 |
Solutions to Even-Numbered Problems | p. S-1 |
Index | p. I-1 |
Photo Credits | P-1 |
Table of Contents provided by Ingram. All Rights Reserved. |
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