Symbols
A
A.W. Phillips25.3 The Phillips Curve
Abhijit Bannerjee32.2 Improving Countries’ Standards of Living
Abraham García20.3 Components of Economic Growth
absolute advantage33.1 Absolute and Comparative Advantage
Accounting profit7.1 Explicit and Implicit Costs, and Accounting and Economic Profit, 10.1 Monopolistic Competition
acquisition11.1 Corporate Mergers
actual rate of return17.2 How Households Supply Financial Capital
Adam Smith1.1 What Is Economics, and Why Is It Important?, 2.3 Confronting Objections to the Economic Approach, 10.2 Oligopoly, 24.1 Macroeconomic Perspectives on Demand and Supply
adaptive expectations26.1 The Building Blocks of Neoclassical Analysis
additional external costs12.1 The Economics of Pollution
adjustable-rate mortgage (ARM)22.5 Indexing and Its Limitations
Adverse selection16.2 Insurance and Imperfect Information
adverse selection of wage cuts argument21.3 What Causes Changes in Unemployment over the Short Run
Affirmative action15.2 Employment Discrimination
Affordable Care Act (ACA)Introduction to Information, Risk, and Insurance, 16.2 Insurance and Imperfect Information, 18.2 Special Interest Politics
Age Discrimination in Employment Act15.2 Employment Discrimination
aggregate demandIntroduction to the Aggregate Demand/Aggregate Supply Model, 25.1 Aggregate Demand in Keynesian Analysis, 26.1 The Building Blocks of Neoclassical Analysis, 26.2 The Policy Implications of the Neoclassical Perspective, 26.2 The Policy Implications of the Neoclassical Perspective, 28.4 Monetary Policy and Economic Outcomes, 28.5 Pitfalls for Monetary Policy, 29.3 Macroeconomic Effects of Exchange Rates, 30.4 Using Fiscal Policy to Fight Recession, Unemployment, and Inflation, 32.3 Causes of Unemployment around the World, The Expenditure-Output Model
aggregate demand (AD)Introduction to the Macroeconomic Perspective, 24.2 Building a Model of Aggregate Demand and Aggregate Supply
aggregate demand (AD) curve24.2 Building a Model of Aggregate Demand and Aggregate Supply
aggregate demand/aggregate supply (AD/AS)Introduction to Money and Banking
aggregate demand/aggregate supply model24.2 Building a Model of Aggregate Demand and Aggregate Supply, 26.1 The Building Blocks of Neoclassical Analysis
aggregate expenditure functionThe Expenditure-Output Model
aggregate expenditure lineThe Expenditure-Output Model
aggregate expenditure scheduleThe Expenditure-Output Model
aggregate expendituresThe Expenditure-Output Model
aggregate production function20.2 Labor Productivity and Economic Growth, 20.3 Components of Economic Growth, 20.4 Economic Convergence
aggregate supplyIntroduction to the Aggregate Demand/Aggregate Supply Model, 26.1 The Building Blocks of Neoclassical Analysis, 30.4 Using Fiscal Policy to Fight Recession, Unemployment, and Inflation
aggregate supply (AS)Introduction to the Macroeconomic Perspective, 24.2 Building a Model of Aggregate Demand and Aggregate Supply
aggregate supply (AS) curve24.2 Building a Model of Aggregate Demand and Aggregate Supply
aggregate supply curve26.2 The Policy Implications of the Neoclassical Perspective
Agriculture and Food Research Initiative (AFRI)13.2 How Governments Can Encourage Innovation
Aid to Families with Dependent Children (AFDC)14.3 The Safety Net
Alexander Gerschenkron20.4 Economic Convergence
Alfred Marshall3.5 Demand, Supply, and Efficiency
Allocative efficiency2.2 The Production Possibilities Frontier and Social Choices, 8.4 Efficiency in Perfectly Competitive Markets, 9.2 How a Profit-Maximizing Monopoly Chooses Output and Price, 12.6 The Tradeoff between Economic Output and Environmental Protection
American Federation of State15.1 Unions
American Recovery and Reinvestment Act of 200925.2 The Building Blocks of Keynesian Analysis
Anthony Downs18.1 Voter Participation and Costs of Elections
Anti-dumping laws34.3 Arguments in Support of Restricting Imports
Antitrust Division of the Justice Department10.2 Oligopoly
antitrust laws11.1 Corporate Mergers
appreciating29.1 How the Foreign Exchange Market Works
Asian Financial Crisis32.5 Balance of Trade Concerns
asset-liability time mismatch27.3 The Role of Banks
assets28.2 Bank Regulation
asymmetric information16.1 The Problem of Imperfect Information and Asymmetric Information
average cost curve11.3 Regulating Natural Monopolies
average profit7.2 The Structure of Costs in the Short Run
Average total cost7.2 The Structure of Costs in the Short Run
Average variable cost7.2 The Structure of Costs in the Short Run
B
backward-bending supply curve for labor6.3 Labor-Leisure Choices
balance of payments23.3 Trade Balances and Flows of Financial Capital
balance of tradeIntroduction to the International Trade and Capital Flows, 23.6 The Difference between Level of Trade and the Trade Balance, 29.4 Exchange Rate Policies
balance sheet27.3 The Role of Banks
Bank regulation28.2 Bank Regulation
bank run28.2 Bank Regulation
banking system27.2 Measuring Money: Currency, M1, and M2
Barriers to entry9.1 How Monopolies Form: Barriers to Entry
base year22.1 Tracking Inflation
basic quantity equation of money28.5 Pitfalls for Monetary Policy
basket of goods and services22.1 Tracking Inflation
behavioral economics6.4 Intertemporal Choices in Financial Capital Markets
behavioral economists16.1 The Problem of Imperfect Information and Asymmetric Information
biodiversity12.5 International Environmental Issues
Bipartisan Campaign Reform Act (BCRA)18.1 Voter Participation and Costs of Elections
bonds17.2 How Households Supply Financial Capital, 22.5 Indexing and Its Limitations, 27.3 The Role of Banks, 28.3 How a Central Bank Executes Monetary Policy, Appendix C Present Discounted Value
budget constraint2.1 How Individuals Make Choices Based on Their Budget Constraint, 6.1 Consumption Choices, 6.2 How Changes in Income and Prices Affect Consumption Choices, 6.4 Intertemporal Choices in Financial Capital Markets, Appendix B Indifference Curves
budget deficit30.1 Government Spending
budget lineAppendix B Indifference Curves
budget surplus30.1 Government Spending
Bureau of Economic Analysis (BEA)23.1 Measuring Trade Balances
Bureau of Labor Statistics19.5 How Well GDP Measures the Well-Being of Society
business confidence24.4 Shifts in Aggregate Demand
business cycle19.3 Tracking Real GDP over Time
C
capital deepening20.3 Components of Economic Growth
capital gain17.1 How Businesses Raise Financial Capital
cartel10.2 Oligopoly
Celler-Kefauver Act11.1 Corporate Mergers
central bank28.1 The Federal Reserve Banking System and Central Banks, 28.5 Pitfalls for Monetary Policy, 29.3 Macroeconomic Effects of Exchange Rates, 29.4 Exchange Rate Policies
certificate of deposit (CD)17.2 How Households Supply Financial Capital
certificates of deposit (CDs)27.2 Measuring Money: Currency, M1, and M2
ceteris paribus3.2 Shifts in Demand and Supply for Goods and Services, 3.3 Changes in Equilibrium Price and Quantity: The Four-Step Process, 4.1 Demand and Supply at Work in Labor Markets
checking account17.2 How Households Supply Financial Capital
circular flow diagram1.3 How Economists Use Theories and Models to Understand Economic Issues
Civil Rights Act of 196415.2 Employment Discrimination
Civil Rights Act of 199115.2 Employment Discrimination
Clayton Antitrust Act11.1 Corporate Mergers
Clean Air Act12.2 Command-and-Control Regulation, 12.3 Market-Oriented Environmental Tools, 12.4 The Benefits and Costs of U.S. Environmental Laws
Clean Water Act12.2 Command-and-Control Regulation
coins and currency in circulation27.2 Measuring Money: Currency, M1, and M2
coinsurance16.2 Insurance and Imperfect Information
collective bargaining15.1 Unions
collusion10.2 Oligopoly
command-and-control regulation12.2 Command-and-Control Regulation
commodity money27.1 Defining Money by Its Functions
Commodity-backed currencies27.1 Defining Money by Its Functions
common resources13.3 Public Goods
comparative advantage1.1 What Is Economics, and Why Is It Important?, 2.2 The Production Possibilities Frontier and Social Choices, 23.3 Trade Balances and Flows of Financial Capital, 33.1 Absolute and Comparative Advantage, 34.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions
competitive market15.2 Employment Discrimination
compound growth rate20.2 Labor Productivity and Economic Growth
Compound interest17.3 How to Accumulate Personal Wealth
concentration ratio11.1 Corporate Mergers
constant cost industry8.3 Entry and Exit Decisions in the Long Run
constant returns to scale7.3 The Structure of Costs in the Long Run
Constant unitary elasticity5.2 Polar Cases of Elasticity and Constant Elasticity
consumer confidence24.4 Shifts in Aggregate Demand
consumer equilibrium6.1 Consumption Choices
Consumer Price Index (CPI)22.2 How Changes in the Cost of Living are Measured
consumer surplus3.5 Demand, Supply, and Efficiency, 34.1 Protectionism: An Indirect Subsidy from Consumers to Producers
consumption6.1 Consumption Choices
consumption budget constraint2.2 The Production Possibilities Frontier and Social Choices
consumption choice budget constraint6.3 Labor-Leisure Choices
consumption demand19.1 Measuring the Size of the Economy: Gross Domestic Product
consumption functionThe Expenditure-Output Model
contractionary fiscal policy25.3 The Phillips Curve, 30.4 Using Fiscal Policy to Fight Recession, Unemployment, and Inflation
contractionary monetary policy28.4 Monetary Policy and Economic Outcomes, 29.4 Exchange Rate Policies, 31.2 Fiscal Policy, Investment, and Economic Growth
contractual rights20.1 The Relatively Recent Arrival of Economic Growth
convergence20.4 Economic Convergence
converging economy32.4 Causes of Inflation in Various Countries and Regions
coordination argument25.2 The Building Blocks of Keynesian Analysis
core competency1.1 What Is Economics, and Why Is It Important?
core inflation index22.2 How Changes in the Cost of Living are Measured
corporate bond17.1 How Businesses Raise Financial Capital
corporate governance17.1 How Businesses Raise Financial Capital
corporate income tax30.2 Taxation
corporation17.1 How Businesses Raise Financial Capital
cost of living22.2 How Changes in the Cost of Living are Measured
cost-of-living adjustments (COLAs)22.5 Indexing and Its Limitations
cost-plus regulation11.3 Regulating Natural Monopolies
countercyclical28.4 Monetary Policy and Economic Outcomes
County and Municipal Employees (AFSCME)15.1 Unions
coupon rate17.2 How Households Supply Financial Capital
credit card27.2 Measuring Money: Currency, M1, and M2
credit union27.3 The Role of Banks
cross-price elasticity of demand5.4 Elasticity in Areas Other Than Price
crowding out30.6 Practical Problems with Discretionary Fiscal Policy, 31.2 Fiscal Policy, Investment, and Economic Growth
current account balance23.1 Measuring Trade Balances
D
David Ricardo33.1 Absolute and Comparative Advantage
deadweight loss3.5 Demand, Supply, and Efficiency
decreasing cost industry8.3 Entry and Exit Decisions in the Long Run
deductibles16.2 Insurance and Imperfect Information
deflation22.3 How the U.S. and Other Countries Experience Inflation, 28.5 Pitfalls for Monetary Policy
demand3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 13.1 Why the Private Sector Under Invests in Innovation, 19.1 Measuring the Size of the Economy: Gross Domestic Product, 24.1 Macroeconomic Perspectives on Demand and Supply, Introduction to Exchange Rates and International Capital Flows
demand and supply diagram3.5 Demand, Supply, and Efficiency
demand and supply models4.3 The Market System as an Efficient Mechanism for Information
demand curve3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 3.2 Shifts in Demand and Supply for Goods and Services, 5.1 Price Elasticity of Demand and Price Elasticity of Supply, 5.2 Polar Cases of Elasticity and Constant Elasticity, 10.1 Monopolistic Competition, 10.1 Monopolistic Competition, 29.2 Demand and Supply Shifts in Foreign Exchange Markets, 31.2 Fiscal Policy, Investment, and Economic Growth, 34.1 Protectionism: An Indirect Subsidy from Consumers to Producers
demand curves11.1 Corporate Mergers
demand deposits27.2 Measuring Money: Currency, M1, and M2
depository institutions27.3 The Role of Banks
depreciating29.1 How the Foreign Exchange Market Works
diminishing marginal returns7.2 The Structure of Costs in the Short Run
direct investment29.4 Exchange Rate Policies
discount rate28.3 How a Central Bank Executes Monetary Policy
Discouraged workers21.1 How the Unemployment Rate is Defined and Computed
Discrimination15.2 Employment Discrimination
diseconomies of scale7.3 The Structure of Costs in the Long Run
disposable income25.1 Aggregate Demand in Keynesian Analysis
disruptive market change34.5 The Tradeoffs of Trade Policy
diversification17.2 How Households Supply Financial Capital
diversify27.3 The Role of Banks
division of labor1.1 What Is Economics, and Why Is It Important?, 33.3 Intra-industry Trade between Similar Economies
Dodd-Frank Act11.4 The Great Deregulation Experiment
double coincidence of wants27.1 Defining Money by Its Functions
Dow Jones28.5 Pitfalls for Monetary Policy
Dow Jones Index17.2 How Households Supply Financial Capital
dumping33.4 The Benefits of Reducing Barriers to International Trade, 34.3 Arguments in Support of Restricting Imports
duopoly10.2 Oligopoly
E
earned income tax credit (EITC)14.3 The Safety Net
East Asian Tigers32.2 Improving Countries’ Standards of Living
economic efficiency2.3 Confronting Objections to the Economic Approach
economic growthIntroduction to Money and Banking
economic surplus3.5 Demand, Supply, and Efficiency
economies of scale1.1 What Is Economics, and Why Is It Important?, 7.3 The Structure of Costs in the Long Run, 9.1 How Monopolies Form: Barriers to Entry, 33.3 Intra-industry Trade between Similar Economies
effective income tax14.5 Government Policies to Reduce Income Inequality
efficiency3.5 Demand, Supply, and Efficiency
Efficiency wage theory21.3 What Causes Changes in Unemployment over the Short Run
ElasticityIntroduction to Elasticity
elasticity of savings5.4 Elasticity in Areas Other Than Price
Employment Cost Index22.2 How Changes in the Cost of Living are Measured
Equal Employment Opportunity Commission (EEOC)15.2 Employment Discrimination
Equal Pay Act of 196315.2 Employment Discrimination
equilibrium3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 3.5 Demand, Supply, and Efficiency, 4.1 Demand and Supply at Work in Labor Markets, 10.1 Monopolistic Competition, 16.1 The Problem of Imperfect Information and Asymmetric Information, 34.1 Protectionism: An Indirect Subsidy from Consumers to Producers, The Expenditure-Output Model
equilibrium exchange rate29.2 Demand and Supply Shifts in Foreign Exchange Markets
equilibrium price3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 16.1 The Problem of Imperfect Information and Asymmetric Information
equilibrium quantity3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 3.3 Changes in Equilibrium Price and Quantity: The Four-Step Process
estate and gift tax30.2 Taxation
Esther Duflo32.2 Improving Countries’ Standards of Living
European Union (EU)3.4 Price Ceilings and Price Floors
excess reserves28.5 Pitfalls for Monetary Policy
exchange rate19.4 Comparing GDP among Countries, Introduction to Exchange Rates and International Capital Flows, 31.4 Fiscal Policy and the Trade Balance
exchange rates28.5 Pitfalls for Monetary Policy
excise tax30.2 Taxation
exclusive dealing11.2 Regulating Anticompetitive Behavior
expansionary fiscal policy25.3 The Phillips Curve, 30.4 Using Fiscal Policy to Fight Recession, Unemployment, and Inflation
expansionary monetary policy28.4 Monetary Policy and Economic Outcomes, 29.4 Exchange Rate Policies, 31.2 Fiscal Policy, Investment, and Economic Growth, 32.3 Causes of Unemployment around the World
expected inflation26.2 The Policy Implications of the Neoclassical Perspective
expected rate of return17.2 How Households Supply Financial Capital
expenditure multiplier25.2 The Building Blocks of Keynesian Analysis
expenditure-output modelThe Expenditure-Output Model
Exports1.4 How Economies Can Be Organized: An Overview of Economic Systems, 23.1 Measuring Trade Balances, 24.2 Building a Model of Aggregate Demand and Aggregate Supply, 25.1 Aggregate Demand in Keynesian Analysis, 29.3 Macroeconomic Effects of Exchange Rates
exports of goods and services as a percentage of GDP23.2 Trade Balances in Historical and International Context
external costs12.1 The Economics of Pollution
externality12.1 The Economics of Pollution
F
factors of production3.2 Shifts in Demand and Supply for Goods and Services
Federal Deposit Insurance Corporation (FDIC)17.2 How Households Supply Financial Capital, 28.2 Bank Regulation
federal funds rate28.4 Monetary Policy and Economic Outcomes
Federal Open Market Committee (FOMC)28.3 How a Central Bank Executes Monetary Policy
Federal Reserve28.1 The Federal Reserve Banking System and Central Banks, 28.2 Bank Regulation, 28.5 Pitfalls for Monetary Policy, 31.2 Fiscal Policy, Investment, and Economic Growth, 32.5 Balance of Trade Concerns
Federal Reserve Bank27.2 Measuring Money: Currency, M1, and M2
Federal Reserve Economic Data (FRED)Introduction to Financial Markets, 21.2 Patterns of Unemployment, 29.1 How the Foreign Exchange Market Works, 29.4 Exchange Rate Policies
Federal Trade Commission10.2 Oligopoly
Federal Trade Commission (FTC)16.1 The Problem of Imperfect Information and Asymmetric Information
fee-for-service16.2 Insurance and Imperfect Information
fiat money27.1 Defining Money by Its Functions
final goods and services19.1 Measuring the Size of the Economy: Gross Domestic Product
financial capital4.2 Demand and Supply in Financial Markets, 23.3 Trade Balances and Flows of Financial Capital, 23.4 The National Saving and Investment Identity, 28.5 Pitfalls for Monetary Policy, 31.1 How Government Borrowing Affects Investment and the Trade Balance
financial capital market16.1 The Problem of Imperfect Information and Asymmetric Information, 23.4 The National Saving and Investment Identity
financial capital markets16.1 The Problem of Imperfect Information and Asymmetric Information, Introduction to Financial Markets, 30.6 Practical Problems with Discretionary Fiscal Policy, 31.1 How Government Borrowing Affects Investment and the Trade Balance
firm2.2 The Production Possibilities Frontier and Social Choices, 3.2 Shifts in Demand and Supply for Goods and Services, Introduction to Cost and Industry Structure, 10.1 Monopolistic Competition, 10.2 Oligopoly, 13.1 Why the Private Sector Under Invests in Innovation, 15.1 Unions, 17.1 How Businesses Raise Financial Capital, 18.3 Flaws in the Democratic System of Government
Fiscal policy1.2 Microeconomics and Macroeconomics, Introduction to Government Budgets and Fiscal Policy, 32.3 Causes of Unemployment around the World
Fixed costs7.2 The Structure of Costs in the Short Run
floating exchange rate29.4 Exchange Rate Policies
Foreign direct investment (FDI)29.1 How the Foreign Exchange Market Works
foreign exchange market29.1 How the Foreign Exchange Market Works, 29.2 Demand and Supply Shifts in Foreign Exchange Markets
foreign financial capital23.4 The National Saving and Investment Identity
foreign investment capital29.3 Macroeconomic Effects of Exchange Rates
fossil fuels12.5 International Environmental Issues
Francine Blau15.2 Employment Discrimination
free rider13.3 Public Goods
free trade agreements34.4 How Trade Policy Is Enacted: Globally, Regionally, and Nationally
frictional unemployment21.4 What Causes Changes in Unemployment over the Long Run
full-employment GDP24.2 Building a Model of Aggregate Demand and Aggregate Supply
G
gain from trade33.1 Absolute and Comparative Advantage
game theory10.2 Oligopoly
Gary Becker15.2 Employment Discrimination
GDP29.1 How the Foreign Exchange Market Works, 29.2 Demand and Supply Shifts in Foreign Exchange Markets
GDP deflator19.2 Adjusting Nominal Values to Real Values, 22.2 How Changes in the Cost of Living are Measured
GDP per capita19.4 Comparing GDP among Countries, 19.5 How Well GDP Measures the Well-Being of Society, 20.3 Components of Economic Growth, 24.3 Shifts in Aggregate Supply, 32.1 The Diversity of Countries and Economies across the World
General Agreement on Tariffs and Trade (GATT)34.4 How Trade Policy Is Enacted: Globally, Regionally, and Nationally
George Psacharopoulos13.1 Why the Private Sector Under Invests in Innovation
globalization1.4 How Economies Can Be Organized: An Overview of Economic Systems, 11.1 Corporate Mergers, 14.4 Income Inequality: Measurement and Causes, Introduction to International Trade, 34.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions
goods and services market1.3 How Economists Use Theories and Models to Understand Economic Issues
Great Depression19.3 Tracking Real GDP over Time, 24.1 Macroeconomic Perspectives on Demand and Supply, Introduction to the Neoclassical Perspective, 26.3 Balancing Keynesian and Neoclassical Models, Introduction to International Trade
Great Recession14.3 The Safety Net, 19.1 Measuring the Size of the Economy: Gross Domestic Product, 19.3 Tracking Real GDP over Time, 22.3 How the U.S. and Other Countries Experience Inflation, Introduction to the Neoclassical Perspective, 32.3 Causes of Unemployment around the World
gross domestic product (GDP)1.4 How Economies Can Be Organized: An Overview of Economic Systems, 12.6 The Tradeoff between Economic Output and Environmental Protection, 19.1 Measuring the Size of the Economy: Gross Domestic Product
gross national product (GNP)19.1 Measuring the Size of the Economy: Gross Domestic Product
growth consensus32.2 Improving Countries’ Standards of Living
H
hard peg29.4 Exchange Rate Policies
Head Start program31.2 Fiscal Policy, Investment, and Economic Growth
Health Care for America Now (HCAN)18.2 Special Interest Politics
health maintenance organization (HMO)16.2 Insurance and Imperfect Information
Herfindahl-Hirschman Index (HHI)11.1 Corporate Mergers
hidden unemployment21.1 How the Unemployment Rate is Defined and Computed
High-income countries34.1 Protectionism: An Indirect Subsidy from Consumers to Producers, 34.3 Arguments in Support of Restricting Imports
I
immigrants15.3 Immigration
imperfect information16.1 The Problem of Imperfect Information and Asymmetric Information
imperfectly competitiveIntroduction to Monopolistic Competition and Oligopoly
implementation lag30.6 Practical Problems with Discretionary Fiscal Policy
implicit contract21.3 What Causes Changes in Unemployment over the Short Run
Imports1.4 How Economies Can Be Organized: An Overview of Economic Systems, 23.1 Measuring Trade Balances, 24.2 Building a Model of Aggregate Demand and Aggregate Supply, 25.1 Aggregate Demand in Keynesian Analysis, 33.2 What Happens When a Country Has an Absolute Advantage in All Goods
income effect6.2 How Changes in Income and Prices Affect Consumption Choices, Appendix B Indifference Curves
income elasticity of demand5.4 Elasticity in Areas Other Than Price
income payments23.1 Measuring Trade Balances
increasing cost industry8.3 Entry and Exit Decisions in the Long Run
index number22.1 Tracking Inflation
indifference curveAppendix B Indifference Curves
individual income tax30.2 Taxation
Individual Retirement Accounts (IRAs)6.4 Intertemporal Choices in Financial Capital Markets
Industrial Revolution20.1 The Relatively Recent Arrival of Economic Growth
inelastic demand5.1 Price Elasticity of Demand and Price Elasticity of Supply
inelastic supply5.1 Price Elasticity of Demand and Price Elasticity of Supply
inequality14.1 Drawing the Poverty Line
infant industry argument32.5 Balance of Trade Concerns, 34.3 Arguments in Support of Restricting Imports
inferior good3.2 Shifts in Demand and Supply for Goods and Services, 5.4 Elasticity in Areas Other Than Price, 6.2 How Changes in Income and Prices Affect Consumption Choices
Infinite elasticity5.2 Polar Cases of Elasticity and Constant Elasticity
InflationIntroduction to Inflation, Introduction to the Aggregate Demand/Aggregate Supply Model, 24.5 How the AD/AS Model Incorporates Growth, Unemployment, and Inflation, 25.3 The Phillips Curve, Introduction to Money and Banking, 28.1 The Federal Reserve Banking System and Central Banks, 32.4 Causes of Inflation in Various Countries and Regions
inflation rate28.4 Monetary Policy and Economic Outcomes
inflation targeting28.5 Pitfalls for Monetary Policy
initial public offering (IPO)17.1 How Businesses Raise Financial Capital
insider-outsider model21.3 What Causes Changes in Unemployment over the Short Run
intellectual property9.1 How Monopolies Form: Barriers to Entry, 13.2 How Governments Can Encourage Innovation
interbank market29.1 How the Foreign Exchange Market Works
interest rate4.2 Demand and Supply in Financial Markets, 25.1 Aggregate Demand in Keynesian Analysis, Appendix C Present Discounted Value
interest rates28.1 The Federal Reserve Banking System and Central Banks, 28.4 Monetary Policy and Economic Outcomes
Intermediate goods19.1 Measuring the Size of the Economy: Gross Domestic Product
intermediate zone24.6 Keynes’ Law and Say’s Law in the AD/AS Model
international capital flows29.4 Exchange Rate Policies
international externalities12.5 International Environmental Issues
international financial flows29.4 Exchange Rate Policies
International Price Index22.2 How Changes in the Cost of Living are Measured
international trade29.3 Macroeconomic Effects of Exchange Rates, 33.3 Intra-industry Trade between Similar Economies, 34.5 The Tradeoffs of Trade Policy
International Trade Commission (ITC)18.3 Flaws in the Democratic System of Government
intertemporal budget constraint6.4 Intertemporal Choices in Financial Capital Markets, 6.4 Intertemporal Choices in Financial Capital Markets
intertemporal choices2.3 Confronting Objections to the Economic Approach
intertemporal decision making4.2 Demand and Supply in Financial Markets
intra-industry trade33.3 Intra-industry Trade between Similar Economies
Investment demand19.1 Measuring the Size of the Economy: Gross Domestic Product
Investment expenditure19.1 Measuring the Size of the Economy: Gross Domestic Product, 25.1 Aggregate Demand in Keynesian Analysis
investment functionThe Expenditure-Output Model
investment income23.3 Trade Balances and Flows of Financial Capital
invisible hand2.3 Confronting Objections to the Economic Approach
involuntary unemployment21.3 What Causes Changes in Unemployment over the Short Run
J
James Tobin29.4 Exchange Rate Policies
Jan Luiten van Zanden20.1 The Relatively Recent Arrival of Economic Growth
Janet L. Yellen28.1 The Federal Reserve Banking System and Central Banks
Jean-Baptiste Say24.1 Macroeconomic Perspectives on Demand and Supply
Joan Robinson18.3 Flaws in the Democratic System of Government
K
key input5.3 Elasticity and Pricing
Keynes’ law24.1 Macroeconomic Perspectives on Demand and Supply, 24.6 Keynes’ Law and Say’s Law in the AD/AS Model
Keynesian aggregate supply curve28.4 Monetary Policy and Economic Outcomes
Keynesian cross diagramThe Expenditure-Output Model
Keynesian economic model32.3 Causes of Unemployment around the World
Keynesian economics26.1 The Building Blocks of Neoclassical Analysis, 26.3 Balancing Keynesian and Neoclassical Models
Keynesian macroeconomic policy30.7 The Question of a Balanced Budget
Keynesian zone24.6 Keynes’ Law and Say’s Law in the AD/AS Model
kinked demand curve10.2 Oligopoly
L
labor force participation rate21.1 How the Unemployment Rate is Defined and Computed
labor market1.3 How Economists Use Theories and Models to Understand Economic Issues, 4.1 Demand and Supply at Work in Labor Markets, 16.1 The Problem of Imperfect Information and Asymmetric Information, 21.3 What Causes Changes in Unemployment over the Short Run
Labor productivity20.2 Labor Productivity and Economic Growth
labor union15.1 Unions
labor-leisure diagramAppendix B Indifference Curves
Laurence Kahn15.2 Employment Discrimination
law of demand3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 4.2 Demand and Supply in Financial Markets
law of diminishing marginal utility2.1 How Individuals Make Choices Based on Their Budget Constraint
law of diminishing returns2.2 The Production Possibilities Frontier and Social Choices, 20.4 Economic Convergence
legal monopoly9.1 How Monopolies Form: Barriers to Entry
legislative lag30.6 Practical Problems with Discretionary Fiscal Policy
lender of last resort28.2 Bank Regulation
leverage cycle28.5 Pitfalls for Monetary Policy
leviathan effect7.3 The Structure of Costs in the Long Run
liability27.3 The Role of Banks
loan market27.3 The Role of Banks
lobbyists18.2 Special Interest Politics
logrolling18.2 Special Interest Politics
long run aggregate supply (LRAS) curve24.2 Building a Model of Aggregate Demand and Aggregate Supply
long-run average cost (LRAC) curve7.3 The Structure of Costs in the Long Run
long-run equilibrium8.3 Entry and Exit Decisions in the Long Run
loose monetary policy28.4 Monetary Policy and Economic Outcomes
Lorenz curve14.4 Income Inequality: Measurement and Causes
M
M1 money supply27.2 Measuring Money: Currency, M1, and M2
M2 money supply27.2 Measuring Money: Currency, M1, and M2
macroeconomic externality25.2 The Building Blocks of Keynesian Analysis
Macroeconomics1.2 Microeconomics and Macroeconomics
marginal analysis2.1 How Individuals Make Choices Based on Their Budget Constraint
marginal benefits12.4 The Benefits and Costs of U.S. Environmental Laws
Marginal cost7.2 The Structure of Costs in the Short Run, 8.2 How Perfectly Competitive Firms Make Output Decisions, 9.2 How a Profit-Maximizing Monopoly Chooses Output and Price, 11.3 Regulating Natural Monopolies
marginal cost curve12.4 The Benefits and Costs of U.S. Environmental Laws
marginal cost curves12.3 Market-Oriented Environmental Tools
marginal propensity to consume (MPC)The Expenditure-Output Model
marginal propensity to import (MPI)The Expenditure-Output Model
marginal propensity to save (MPS)The Expenditure-Output Model
marginal rate of substitutionAppendix B Indifference Curves
marginal revenue8.2 How Perfectly Competitive Firms Make Output Decisions, 9.2 How a Profit-Maximizing Monopoly Chooses Output and Price
marginal tax rates30.2 Taxation
Marginal utility per dollar6.1 Consumption Choices
market1.4 How Economies Can Be Organized: An Overview of Economic Systems, 11.1 Corporate Mergers, 16.2 Insurance and Imperfect Information
market economy1.4 How Economies Can Be Organized: An Overview of Economic Systems, 2.2 The Production Possibilities Frontier and Social Choices, 13.1 Why the Private Sector Under Invests in Innovation, 21.4 What Causes Changes in Unemployment over the Long Run, 22.4 The Confusion Over Inflation
market failure12.1 The Economics of Pollution
market price10.1 Monopolistic Competition
market share11.1 Corporate Mergers
market structureIntroduction to Perfect Competition
marketable permit program12.3 Market-Oriented Environmental Tools
maturity date17.2 How Households Supply Financial Capital
maximizing utility6.1 Consumption Choices
median voter theory18.3 Flaws in the Democratic System of Government
Medicare18.2 Special Interest Politics
medium of exchange27.1 Defining Money by Its Functions
merchandise trade balance23.1 Measuring Trade Balances
merged currency29.4 Exchange Rate Policies
merger11.1 Corporate Mergers
Michael S. Clune15.3 Immigration
Microeconomics1.2 Microeconomics and Macroeconomics
Midpoint Formula5.1 Price Elasticity of Demand and Price Elasticity of Supply
Midpoint Method5.1 Price Elasticity of Demand and Price Elasticity of Supply, 5.1 Price Elasticity of Demand and Price Elasticity of Supply
Milton Friedman26.2 The Policy Implications of the Neoclassical Perspective, 28.5 Pitfalls for Monetary Policy, 29.4 Exchange Rate Policies
minimum resale price maintenance agreement11.2 Regulating Anticompetitive Behavior
minimum wage4.1 Demand and Supply at Work in Labor Markets, 21.3 What Causes Changes in Unemployment over the Short Run, 22.4 The Confusion Over Inflation, 34.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions
modern economic growth20.1 The Relatively Recent Arrival of Economic Growth
Mollie Orshansky14.1 Drawing the Poverty Line
Monetary policy1.2 Microeconomics and Macroeconomics, 28.1 The Federal Reserve Banking System and Central Banks, 28.3 How a Central Bank Executes Monetary Policy, 29.4 Exchange Rate Policies, Introduction to Government Budgets and Fiscal Policy
money market funds27.2 Measuring Money: Currency, M1, and M2
money multiplier28.5 Pitfalls for Monetary Policy
money multiplier formula27.4 How Banks Create Money
money-back guarantee16.1 The Problem of Imperfect Information and Asymmetric Information
monopolistic competitionIntroduction to Monopolistic Competition and Oligopoly
monopoly firm15.1 Unions
Moral hazard16.2 Insurance and Imperfect Information
multiplier effectThe Expenditure-Output Model
municipal bond17.1 How Businesses Raise Financial Capital
mutual funds17.2 How Households Supply Financial Capital
N
National Academy of Engineers13.2 How Governments Can Encourage Innovation
National Academy of Scientists13.2 How Governments Can Encourage Innovation
National Association of Insurance Commissioners16.2 Insurance and Imperfect Information
National Bureau of Economic Research32.5 Balance of Trade Concerns
National Bureau of Economic Research (NBER)19.3 Tracking Real GDP over Time
National Credit Union Administration (NCUA)28.2 Bank Regulation
national debt30.3 Federal Deficits and the National Debt
National Education Association15.1 Unions
national income19.1 Measuring the Size of the Economy: Gross Domestic Product, The Expenditure-Output Model
National Institutes of Health13.2 How Governments Can Encourage Innovation
national interest argument34.3 Arguments in Support of Restricting Imports
National Labor-Management Relations Act15.1 Unions
national saving and investment identity23.4 The National Saving and Investment Identity
National Venture Capital Association17.1 How Businesses Raise Financial Capital
natural monopoly9.1 How Monopolies Form: Barriers to Entry, 10.2 Oligopoly, 11.3 Regulating Natural Monopolies
natural rate of unemployment21.4 What Causes Changes in Unemployment over the Long Run, 24.5 How the AD/AS Model Incorporates Growth, Unemployment, and Inflation, 26.2 The Policy Implications of the Neoclassical Perspective
near-poor14.3 The Safety Net
negative externalities18.2 Special Interest Politics
negative externality12.1 The Economics of Pollution
neoclassical determinants of growth32.1 The Diversity of Countries and Economies across the World
neoclassical economists24.1 Macroeconomic Perspectives on Demand and Supply
neoclassical model28.5 Pitfalls for Monetary Policy
neoclassical perspective26.1 The Building Blocks of Neoclassical Analysis
neoclassical zone24.6 Keynes’ Law and Say’s Law in the AD/AS Model
Net national product (NNP)19.1 Measuring the Size of the Economy: Gross Domestic Product
nominal value19.2 Adjusting Nominal Values to Real Values
nondurable goods19.1 Measuring the Size of the Economy: Gross Domestic Product
nonexcludable13.3 Public Goods
nonrivalrous13.3 Public Goods
Nontariff barriers34.1 Protectionism: An Indirect Subsidy from Consumers to Producers
normal goods5.4 Elasticity in Areas Other Than Price, 6.2 How Changes in Income and Prices Affect Consumption Choices
normative statements2.3 Confronting Objections to the Economic Approach
North American Free Trade Agreement (NAFTA)32.5 Balance of Trade Concerns, 34.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions, 34.4 How Trade Policy Is Enacted: Globally, Regionally, and Nationally
O
Occupational licenses16.1 The Problem of Imperfect Information and Asymmetric Information
open market operations28.3 How a Central Bank Executes Monetary Policy
opportunity cost2.1 How Individuals Make Choices Based on Their Budget Constraint, Introduction to Unemployment, 29.4 Exchange Rate Policies, 33.1 Absolute and Comparative Advantage, 33.2 What Happens When a Country Has an Absolute Advantage in All Goods, 34.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions
opportunity set2.1 How Individuals Make Choices Based on Their Budget Constraint, Appendix B Indifference Curves
Organization of Petroleum Exporting Countries (OPEC)10.2 Oligopoly
out of the labor force21.1 How the Unemployment Rate is Defined and Computed
output10.2 Oligopoly
Oxfam International34.1 Protectionism: An Indirect Subsidy from Consumers to Producers
P
partnership17.1 How Businesses Raise Financial Capital
Patient Protection and Affordable Care Act (PPACA)16.2 Insurance and Imperfect Information
Patient Protection and Affordable Care Act (PPACA)Introduction to Information, Risk, and Insurance
payment system27.3 The Role of Banks
payroll tax30.2 Taxation
Pension insurance16.2 Insurance and Imperfect Information
percentage change22.1 Tracking Inflation
perfect competition8.1 Perfect Competition and Why It Matters
perfect elasticity5.2 Polar Cases of Elasticity and Constant Elasticity
perfect inelasticity5.2 Polar Cases of Elasticity and Constant Elasticity
perfectly competitive firm8.1 Perfect Competition and Why It Matters, 8.2 How Perfectly Competitive Firms Make Output Decisions, 8.3 Entry and Exit Decisions in the Long Run, 9.2 How a Profit-Maximizing Monopoly Chooses Output and Price
perfectly elastic10.1 Monopolistic Competition
Pew Research Center for People and the Press3.3 Changes in Equilibrium Price and Quantity: The Four-Step Process
physical capital7.2 The Structure of Costs in the Short Run, 20.3 Components of Economic Growth, 31.2 Fiscal Policy, Investment, and Economic Growth, 32.2 Improving Countries’ Standards of Living
Physical capital per person26.1 The Building Blocks of Neoclassical Analysis
Pierre Mohnen20.3 Components of Economic Growth
pollution charge12.3 Market-Oriented Environmental Tools
pork-barrel spending18.2 Special Interest Politics
positive externalities13.1 Why the Private Sector Under Invests in Innovation
positive externality12.1 The Economics of Pollution
positive statements2.3 Confronting Objections to the Economic Approach
potential GDP24.2 Building a Model of Aggregate Demand and Aggregate Supply, 25.1 Aggregate Demand in Keynesian Analysis, 25.3 The Phillips Curve, 26.1 The Building Blocks of Neoclassical Analysis, 28.4 Monetary Policy and Economic Outcomes, 28.5 Pitfalls for Monetary Policy, The Expenditure-Output Model
poverty line14.1 Drawing the Poverty Line
poverty rate14.1 Drawing the Poverty Line
poverty trap14.2 The Poverty Trap
predatory pricing9.1 How Monopolies Form: Barriers to Entry, 11.2 Regulating Anticompetitive Behavior
present discounted value (PDV)Appendix C Present Discounted Value
present value17.2 How Households Supply Financial Capital
price2.1 How Individuals Make Choices Based on Their Budget Constraint, 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 3.2 Shifts in Demand and Supply for Goods and Services, 10.2 Oligopoly
price cap regulation11.3 Regulating Natural Monopolies
price control3.5 Demand, Supply, and Efficiency
Price controls3.4 Price Ceilings and Price Floors, 4.3 The Market System as an Efficient Mechanism for Information, 18.2 Special Interest Politics
Price elasticity5.1 Price Elasticity of Demand and Price Elasticity of Supply
price elasticity of demand5.1 Price Elasticity of Demand and Price Elasticity of Supply
price elasticity of supply5.1 Price Elasticity of Demand and Price Elasticity of Supply
price level22.1 Tracking Inflation
price taker8.1 Perfect Competition and Why It Matters
prisoner’s dilemma10.2 Oligopoly
private benefits13.1 Why the Private Sector Under Invests in Innovation
private company17.1 How Businesses Raise Financial Capital
private enterprise1.4 How Economies Can Be Organized: An Overview of Economic Systems, 7.1 Explicit and Implicit Costs, and Accounting and Economic Profit
private insurance16.2 Insurance and Imperfect Information
private rates of return13.1 Why the Private Sector Under Invests in Innovation
Producer Price Index (PPI)22.2 How Changes in the Cost of Living are Measured
producer surplus3.5 Demand, Supply, and Efficiency, 34.1 Protectionism: An Indirect Subsidy from Consumers to Producers
product differentiation10.1 Monopolistic Competition
production function20.2 Labor Productivity and Economic Growth
production possibilities frontier (PPF)2.2 The Production Possibilities Frontier and Social Choices
production possibility frontier (PPF)12.6 The Tradeoff between Economic Output and Environmental Protection, 33.1 Absolute and Comparative Advantage
production technologies7.3 The Structure of Costs in the Long Run
Productive efficiency2.2 The Production Possibilities Frontier and Social Choices, 8.4 Efficiency in Perfectly Competitive Markets, 10.1 Monopolistic Competition, 12.6 The Tradeoff between Economic Output and Environmental Protection
profit margin7.2 The Structure of Costs in the Short Run
profit-maximizing10.1 Monopolistic Competition
profits10.2 Oligopoly
progressive tax30.2 Taxation
progressive tax system14.5 Government Policies to Reduce Income Inequality
property rights12.3 Market-Oriented Environmental Tools, 20.1 The Relatively Recent Arrival of Economic Growth
proportional tax30.2 Taxation
protectionism34.1 Protectionism: An Indirect Subsidy from Consumers to Producers, 34.1 Protectionism: An Indirect Subsidy from Consumers to Producers, 34.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions
public company17.1 How Businesses Raise Financial Capital
public good13.3 Public Goods
Public policy14.5 Government Policies to Reduce Income Inequality
purchasing power parity32.1 The Diversity of Countries and Economies across the World
purchasing power parity (PPP)19.4 Comparing GDP among Countries, 29.2 Demand and Supply Shifts in Foreign Exchange Markets
Q
quality/new goods bias22.2 How Changes in the Cost of Living are Measured
quantitative easing (QE)28.4 Monetary Policy and Economic Outcomes
quantity demanded3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 10.2 Oligopoly, 29.4 Exchange Rate Policies
R
race to the bottom34.3 Arguments in Support of Restricting Imports
rational expectations26.1 The Building Blocks of Neoclassical Analysis
rational ignorance18.1 Voter Participation and Costs of Elections
real GDP19.2 Adjusting Nominal Values to Real Values, Introduction to the International Trade and Capital Flows, 23.5 The Pros and Cons of Trade Deficits and Surpluses, 25.1 Aggregate Demand in Keynesian Analysis, 26.1 The Building Blocks of Neoclassical Analysis, 28.5 Pitfalls for Monetary Policy, 28.5 Pitfalls for Monetary Policy, The Expenditure-Output Model
real interest rate22.4 The Confusion Over Inflation
recession19.3 Tracking Real GDP over Time, 21.2 Patterns of Unemployment, 24.1 Macroeconomic Perspectives on Demand and Supply, 24.4 Shifts in Aggregate Demand, 25.2 The Building Blocks of Keynesian Analysis, 28.5 Pitfalls for Monetary Policy, 31.4 Fiscal Policy and the Trade Balance, 32.3 Causes of Unemployment around the World
recognition lag30.6 Practical Problems with Discretionary Fiscal Policy
Redistribution14.5 Government Policies to Reduce Income Inequality
regressive tax30.2 Taxation
relative wage coordination argument21.3 What Causes Changes in Unemployment over the Short Run
reserve requirement28.3 How a Central Bank Executes Monetary Policy
reserves27.3 The Role of Banks, 28.2 Bank Regulation, 28.3 How a Central Bank Executes Monetary Policy, 29.4 Exchange Rate Policies
restrictive practices11.2 Regulating Anticompetitive Behavior
Retirement insurance16.2 Insurance and Imperfect Information
revenue7.1 Explicit and Implicit Costs, and Accounting and Economic Profit, 30.3 Federal Deficits and the National Debt
Ricardian equivalence31.3 How Government Borrowing Affects Private Saving
Richard Easterlin20.1 The Relatively Recent Arrival of Economic Growth
risk group16.2 Insurance and Imperfect Information
Robert Shiller22.4 The Confusion Over Inflation
Robert Solow26.3 Balancing Keynesian and Neoclassical Models
S
safety net14.3 The Safety Net
Sarbanes-Oxley Act11.4 The Great Deregulation Experiment
savings account17.2 How Households Supply Financial Capital
savings deposits27.2 Measuring Money: Currency, M1, and M2
Say’s law24.1 Macroeconomic Perspectives on Demand and Supply, 24.6 Keynes’ Law and Say’s Law in the AD/AS Model
Scarcity1.1 What Is Economics, and Why Is It Important?, 2.3 Confronting Objections to the Economic Approach
Sebastian Edwards32.5 Balance of Trade Concerns
Securitization27.3 The Role of Banks
Service Employees International Union15.1 Unions
services19.1 Measuring the Size of the Economy: Gross Domestic Product, 25.1 Aggregate Demand in Keynesian Analysis
shareholders17.1 How Businesses Raise Financial Capital
Sherman Antitrust Act11.1 Corporate Mergers
shift in demand3.2 Shifts in Demand and Supply for Goods and Services
shift in supply3.2 Shifts in Demand and Supply for Goods and Services
short run aggregate supply (SRAS) curve24.2 Building a Model of Aggregate Demand and Aggregate Supply
short-run average cost (SRAC) curves7.3 The Structure of Costs in the Long Run
shortages22.4 The Confusion Over Inflation
Simple interest17.3 How to Accumulate Personal Wealth
slope2.2 The Production Possibilities Frontier and Social Choices, Appendix A The Use of Mathematics in Principles of Economics
social benefits13.1 Why the Private Sector Under Invests in Innovation
social costs12.1 The Economics of Pollution
social rate of return13.1 Why the Private Sector Under Invests in Innovation
Social Security Indexing Act of 197222.5 Indexing and Its Limitations
social surplus3.5 Demand, Supply, and Efficiency
soft peg29.4 Exchange Rate Policies
sole proprietorship17.1 How Businesses Raise Financial Capital
special economic zones (SEZ)20.3 Components of Economic Growth
Special interest groups18.2 Special Interest Politics
Special Supplemental Food Program for Women, Infants and Children (WIC)14.3 The Safety Net
specialization1.1 What Is Economics, and Why Is It Important?, 33.1 Absolute and Comparative Advantage
spillovers12.1 The Economics of Pollution
splitting up the value chain33.3 Intra-industry Trade between Similar Economies
Standard & Poor’s 500 index17.2 How Households Supply Financial Capital
standard of deferred payment27.1 Defining Money by Its Functions
standard of living19.5 How Well GDP Measures the Well-Being of Society
standardized employment budget30.5 Automatic Stabilizers
standards of living32.1 The Diversity of Countries and Economies across the World
sticky wages and prices25.2 The Building Blocks of Keynesian Analysis
store of value27.1 Defining Money by Its Functions
straight-line demand curve5.1 Price Elasticity of Demand and Price Elasticity of Supply
structural unemployment21.4 What Causes Changes in Unemployment over the Long Run
subprime loans27.3 The Role of Banks
substitution bias22.2 How Changes in the Cost of Living are Measured
substitution effect6.2 How Changes in Income and Prices Affect Consumption Choices, Appendix B Indifference Curves
sunk costs2.1 How Individuals Make Choices Based on Their Budget Constraint, 7.2 The Structure of Costs in the Short Run
Supplemental Nutrition Assistance Program (SNAP)14.3 The Safety Net
supply3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 24.1 Macroeconomic Perspectives on Demand and Supply, Introduction to Exchange Rates and International Capital Flows
supply curve3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 3.2 Shifts in Demand and Supply for Goods and Services, 29.2 Demand and Supply Shifts in Foreign Exchange Markets, 31.2 Fiscal Policy, Investment, and Economic Growth, 34.1 Protectionism: An Indirect Subsidy from Consumers to Producers
supply curves11.1 Corporate Mergers
surplus3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 23.1 Measuring Trade Balances, 31.1 How Government Borrowing Affects Investment and the Trade Balance
surpluses22.4 The Confusion Over Inflation
T
T-account27.3 The Role of Banks
Taft-Hartley Act15.1 Unions
Tariffs33.4 The Benefits of Reducing Barriers to International Trade, 34.1 Protectionism: An Indirect Subsidy from Consumers to Producers
tax incidence5.3 Elasticity and Pricing
Technological change20.2 Labor Productivity and Economic Growth
technology13.1 Why the Private Sector Under Invests in Innovation, 20.3 Components of Economic Growth, 32.2 Improving Countries’ Standards of Living
Temporary Assistance for Needy Families (TANF)14.3 The Safety Net
The Land of Funny Money22.4 The Confusion Over Inflation
tight monetary policy28.4 Monetary Policy and Economic Outcomes
time deposits27.2 Measuring Money: Currency, M1, and M2
Tobin taxes29.4 Exchange Rate Policies
total costs7.2 The Structure of Costs in the Short Run, 8.2 How Perfectly Competitive Firms Make Output Decisions
Total revenue8.2 How Perfectly Competitive Firms Make Output Decisions, 9.2 How a Profit-Maximizing Monopoly Chooses Output and Price
total surplus3.5 Demand, Supply, and Efficiency
total utility6.1 Consumption Choices
trade deficit19.1 Measuring the Size of the Economy: Gross Domestic Product, Introduction to the International Trade and Capital Flows, 32.5 Balance of Trade Concerns
trade secrets9.1 How Monopolies Form: Barriers to Entry
trade surplus19.1 Measuring the Size of the Economy: Gross Domestic Product, Introduction to the International Trade and Capital Flows, 32.5 Balance of Trade Concerns
traditional economy1.4 How Economies Can Be Organized: An Overview of Economic Systems
Transaction costs27.3 The Role of Banks
Treasury bills28.4 Monetary Policy and Economic Outcomes
Treasury bond17.1 How Businesses Raise Financial Capital
Treasury bonds28.4 Monetary Policy and Economic Outcomes
twin deficits31.3 How Government Borrowing Affects Private Saving
Tying sales11.2 Regulating Anticompetitive Behavior
Tyler Cowen13.3 Public Goods
U
U.S. Census Bureau3.2 Shifts in Demand and Supply for Goods and Services
U.S. Department of Commerce23.1 Measuring Trade Balances
U.S. Department of the Treasury17.1 How Businesses Raise Financial Capital
U.S. Patent and Trademark Office20.3 Components of Economic Growth
underground economies1.4 How Economies Can Be Organized: An Overview of Economic Systems
unemploymentIntroduction to the Aggregate Demand/Aggregate Supply Model, 24.5 How the AD/AS Model Incorporates Growth, Unemployment, and Inflation, 25.3 The Phillips Curve, Introduction to Money and Banking, 28.1 The Federal Reserve Banking System and Central Banks, 32.3 Causes of Unemployment around the World
Unemployment insurance16.2 Insurance and Imperfect Information
unemployment rate21.1 How the Unemployment Rate is Defined and Computed, 28.4 Monetary Policy and Economic Outcomes
unilateral transfers23.1 Measuring Trade Balances
unit of account27.1 Defining Money by Its Functions
Unitary elasticities5.1 Price Elasticity of Demand and Price Elasticity of Supply
United Mineworkers union15.1 Unions
utility2.1 How Individuals Make Choices Based on Their Budget Constraint, 6.1 Consumption Choices, Appendix B Indifference Curves
utility maximizing16.1 The Problem of Imperfect Information and Asymmetric Information
utility-maximizing18.1 Voter Participation and Costs of Elections
utility-maximizing choice6.2 How Changes in Income and Prices Affect Consumption Choices
V
Variable costs7.2 The Structure of Costs in the Short Run
Venture capital17.1 How Businesses Raise Financial Capital
W
wage elasticity of labor supply5.4 Elasticity in Areas Other Than Price
Wages21.4 What Causes Changes in Unemployment over the Long Run, 22.1 Tracking Inflation, 22.4 The Confusion Over Inflation
Walter McMahon13.1 Why the Private Sector Under Invests in Innovation
Workman’s compensation insurance16.2 Insurance and Imperfect Information
Z
Zero elasticity5.2 Polar Cases of Elasticity and Constant Elasticity