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Principles of Macroeconomics for AP® Courses

Index

Principles of Macroeconomics for AP® CoursesIndex
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Table of contents
  1. Preface
  2. 1 Welcome to Economics!
    1. Introduction
    2. 1.1 What Is Economics, and Why Is It Important?
    3. 1.2 Microeconomics and Macroeconomics
    4. 1.3 How Economists Use Theories and Models to Understand Economic Issues
    5. 1.4 How Economies Can Be Organized: An Overview of Economic Systems
    6. Key Terms
    7. Key Concepts and Summary
    8. Self-Check Questions
    9. Review Questions
    10. Critical Thinking Questions
  3. 2 Choice in a World of Scarcity
    1. Introduction to Choice in a World of Scarcity
    2. 2.1 How Individuals Make Choices Based on Their Budget Constraint
    3. 2.2 The Production Possibilities Frontier and Social Choices
    4. 2.3 Confronting Objections to the Economic Approach
    5. Key Terms
    6. Key Concepts and Summary
    7. Self-Check Questions
    8. Review Questions
    9. Critical Thinking Questions
    10. Problems
  4. 3 Demand and Supply
    1. Introduction to Demand and Supply
    2. 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services
    3. 3.2 Shifts in Demand and Supply for Goods and Services
    4. 3.3 Changes in Equilibrium Price and Quantity: The Four-Step Process
    5. 3.4 Price Ceilings and Price Floors
    6. 3.5 Demand, Supply and Efficiency
    7. Key Terms
    8. Key Concepts and Summary
    9. Self-Check Questions
    10. Review Questions
    11. Critical Thinking Questions
    12. Problems
  5. 4 Labor and Financial Markets
    1. Introduction to Labor and Financial Markets
    2. 4.1 Demand and Supply at Work in Labor Markets
    3. 4.2 Demand and Supply in Financial Markets
    4. 4.3 The Market System as an Efficient Mechanism for Information
    5. Key Terms
    6. Key Concepts and Summary
    7. Self-Check Questions
    8. Review Questions
    9. Critical Thinking Questions
    10. Problems
  6. 5 The Macroeconomic Perspective
    1. Introduction to the Macroeconomic Perspective
    2. 5.1 Measuring the Size of the Economy: Gross Domestic Product
    3. 5.2 Adjusting Nominal Values to Real Values
    4. 5.3 Tracking Real GDP over Time
    5. 5.4 Comparing GDP among Countries
    6. 5.5 How Well GDP Measures the Well-Being of Society
    7. Key Terms
    8. Key Concepts and Summary
    9. Self-Check Questions
    10. Review Questions
    11. Critical Thinking Questions
    12. Problems
  7. 6 Economic Growth
    1. Introduction to Economic Growth
    2. 6.1 The Relatively Recent Arrival of Economic Growth
    3. 6.2 Labor Productivity and Economic Growth
    4. 6.3 Components of Economic Growth
    5. 6.4 Economic Convergence
    6. Key Terms
    7. Key Concepts and Summary
    8. Self-Check Questions
    9. Review Questions
    10. Critical Thinking Questions
    11. Problems
  8. 7 Unemployment
    1. Introduction to Unemployment
    2. 7.1 How the Unemployment Rate Is Defined and Computed
    3. 7.2 Patterns of Unemployment
    4. 7.3 What Causes Changes in Unemployment over the Short Run
    5. 7.4 What Causes Changes in Unemployment over the Long Run
    6. Key Terms
    7. Key Concepts and Summary
    8. Self-Check Questions
    9. Review Questions
    10. Critical Thinking Questions
    11. Problems
  9. 8 Inflation
    1. Introduction to Inflation
    2. 8.1 Tracking Inflation
    3. 8.2 How Changes in the Cost of Living Are Measured
    4. 8.3 How the U.S. and Other Countries Experience Inflation
    5. 8.4 The Confusion Over Inflation
    6. 8.5 Indexing and Its Limitations
    7. Key Terms
    8. Key Concepts and Summary
    9. Self-Check Questions
    10. Review Questions
    11. Critical Thinking Questions
    12. Problems
  10. 9 The International Trade and Capital Flows
    1. Introduction to the International Trade and Capital Flows
    2. 9.1 Measuring Trade Balances
    3. 9.2 Trade Balances in Historical and International Context
    4. 9.3 Trade Balances and Flows of Financial Capital
    5. 9.4 The National Saving and Investment Identity
    6. 9.5 The Pros and Cons of Trade Deficits and Surpluses
    7. 9.6 The Difference between Level of Trade and the Trade Balance
    8. Key Terms
    9. Key Concepts and Summary
    10. Self-Check Questions
    11. Review Questions
    12. Critical Thinking Questions
    13. Problems
  11. 10 The Aggregate Demand/Aggregate Supply Model
    1. Introduction to the Aggregate Demand/Aggregate Supply Model
    2. 10.1 Macroeconomic Perspectives on Demand and Supply
    3. 10.2 Building a Model of Aggregate Demand and Aggregate Supply
    4. 10.3 Shifts in Aggregate Supply
    5. 10.4 Shifts in Aggregate Demand
    6. 10.5 How the AD/AS Model Incorporates Growth, Unemployment, and Inflation
    7. 10.6 Keynes’ Law and Say’s Law in the AD/AS Model
    8. Key Terms
    9. Key Concepts and Summary
    10. Self-Check Questions
    11. Review Questions
    12. Critical Thinking Questions
    13. Problems
  12. 11 The Keynesian Perspective
    1. Introduction to the Keynesian Perspective
    2. 11.1 Aggregate Demand in Keynesian Analysis
    3. 11.2 The Building Blocks of Keynesian Analysis
    4. 11.3 The Expenditure-Output (or Keynesian Cross) Model
    5. 11.4 The Phillips Curve
    6. 11.5 The Keynesian Perspective on Market Forces
    7. Key Terms
    8. Key Concepts and Summary
    9. Self-Check Questions
    10. Review Questions
    11. Critical Thinking Questions
  13. 12 The Neoclassical Perspective
    1. Introduction to the Neoclassical Perspective
    2. 12.1 The Building Blocks of Neoclassical Analysis
    3. 12.2 The Policy Implications of the Neoclassical Perspective
    4. 12.3 Balancing Keynesian and Neoclassical Models
    5. Key Terms
    6. Key Concepts and Summary
    7. Self-Check Questions
    8. Review Questions
    9. Critical Thinking Questions
    10. Problems
  14. 13 Money and Banking
    1. Introduction to Money and Banking
    2. 13.1 Defining Money by Its Functions
    3. 13.2 Measuring Money: Currency, M1, and M2
    4. 13.3 The Role of Banks
    5. 13.4 How Banks Create Money
    6. Key Terms
    7. Key Concepts and Summary
    8. Self-Check Questions
    9. Review Questions
    10. Critical Thinking Questions
    11. Problems
  15. 14 Monetary Policy and Bank Regulation
    1. Introduction to Monetary Policy and Bank Regulation
    2. 14.1 The Federal Reserve Banking System and Central Banks
    3. 14.2 Bank Regulation
    4. 14.3 How a Central Bank Executes Monetary Policy
    5. 14.4 Monetary Policy and Economic Outcomes
    6. 14.5 Pitfalls for Monetary Policy
    7. Key Terms
    8. Key Concepts and Summary
    9. Self-Check Questions
    10. Review Questions
    11. Critical Thinking Questions
    12. Problems
  16. 15 Exchange Rates and International Capital Flows
    1. Introduction to Exchange Rates and International Capital Flows
    2. 15.1 How the Foreign Exchange Market Works
    3. 15.2 Demand and Supply Shifts in Foreign Exchange Markets
    4. 15.3 Macroeconomic Effects of Exchange Rates
    5. 15.4 Exchange Rate Policies
    6. Key Terms
    7. Key Concepts and Summary
    8. Self-Check Questions
    9. Review Questions
    10. Critical Thinking Questions
    11. Problems
  17. 16 Government Budgets and Fiscal Policy
    1. Introduction to Government Budgets and Fiscal Policy
    2. 16.1 Government Spending
    3. 16.2 Taxation
    4. 16.3 Federal Deficits and the National Debt
    5. 16.4 Using Fiscal Policy to Fight Recession, Unemployment, and Inflation
    6. 16.5 Automatic Stabilizers
    7. 16.6 Practical Problems with Discretionary Fiscal Policy
    8. 16.7 The Question of a Balanced Budget
    9. Key Terms
    10. Key Concepts and Summary
    11. Self-Check Questions
    12. Review Questions
    13. Critical Thinking Questions
    14. Problems
  18. 17 The Impacts of Government Borrowing
    1. Introduction to the Impacts of Government Borrowing
    2. 17.1 How Government Borrowing Affects Investment and the Trade Balance
    3. 17.2 Fiscal Policy, Investment, and Economic Growth
    4. 17.3 How Government Borrowing Affects Private Saving
    5. 17.4 Fiscal Policy and the Trade Balance
    6. Key Terms
    7. Key Concepts and Summary
    8. Self-Check Questions
    9. Review Questions
    10. Critical Thinking Questions
    11. Problems
  19. 18 Macroeconomic Policy Around the World
    1. Introduction to Macroeconomic Policy around the World
    2. 18.1 The Diversity of Countries and Economies across the World
    3. 18.2 Improving Countries’ Standards of Living
    4. 18.3 Causes of Unemployment around the World
    5. 18.4 Causes of Inflation in Various Countries and Regions
    6. 18.5 Balance of Trade Concerns
    7. Key Terms
    8. Key Concepts and Summary
    9. Self-Check Questions
    10. Review Questions
    11. Critical Thinking Questions
    12. Problems
  20. A | The Use of Mathematics in Principles of Economics
  21. B | Indifference Curves
  22. C | Present Discounted Value
  23. Answer Key
    1. Chapter 1
    2. Chapter 2
    3. Chapter 3
    4. Chapter 4
    5. Chapter 5
    6. Chapter 6
    7. Chapter 7
    8. Chapter 8
    9. Chapter 9
    10. Chapter 10
    11. Chapter 11
    12. Chapter 12
    13. Chapter 13
    14. Chapter 14
    15. Chapter 15
    16. Chapter 16
    17. Chapter 17
    18. Chapter 18
  24. References
  25. Index
Symbols
401(k) 8.4 The Confusion Over Inflation
A
A.W. Phillips 11.4 The Phillips Curve
Abhijit Bannerjee 18.2 Improving Countries’ Standards of Living
Abraham García 6.3 Components of Economic Growth
Adam Smith 1.1 What Is Economics, and Why Is It Important?, 2.3 Confronting Objections to the Economic Approach, 10.1 Macroeconomic Perspectives on Demand and Supply
adaptive expectations 12.1 The Building Blocks of Neoclassical Analysis
adjustable-rate mortgage (ARM) 8.5 Indexing and Its Limitations
adverse selection of wage cuts argument 7.3 What Causes Changes in Unemployment over the Short Run
aggregate demand Introduction to the Aggregate Demand/Aggregate Supply Model, 11.1 Aggregate Demand in Keynesian Analysis, 12.1 The Building Blocks of Neoclassical Analysis, 12.2 The Policy Implications of the Neoclassical Perspective, 12.2 The Policy Implications of the Neoclassical Perspective, 14.4 Monetary Policy and Economic Outcomes, 14.5 Pitfalls for Monetary Policy, 15.3 Macroeconomic Effects of Exchange Rates, 16.4 Using Fiscal Policy to Fight Recession, Unemployment, and Inflation, 18.3 Causes of Unemployment around the World
aggregate demand (AD) Introduction to the Macroeconomic Perspective, 10.2 Building a Model of Aggregate Demand and Aggregate Supply
aggregate demand (AD) curve 10.2 Building a Model of Aggregate Demand and Aggregate Supply
aggregate demand/aggregate supply (AD/AS) Introduction to Money and Banking
aggregate demand/aggregate supply model 10.2 Building a Model of Aggregate Demand and Aggregate Supply, 12.1 The Building Blocks of Neoclassical Analysis
aggregate production function 6.2 Labor Productivity and Economic Growth, 6.3 Components of Economic Growth, 6.4 Economic Convergence
aggregate supply Introduction to the Aggregate Demand/Aggregate Supply Model, 12.1 The Building Blocks of Neoclassical Analysis, 16.4 Using Fiscal Policy to Fight Recession, Unemployment, and Inflation
aggregate supply (AS) Introduction to the Macroeconomic Perspective, 10.2 Building a Model of Aggregate Demand and Aggregate Supply
aggregate supply (AS) curve 10.2 Building a Model of Aggregate Demand and Aggregate Supply
aggregate supply curve 12.2 The Policy Implications of the Neoclassical Perspective
Alexander Gerschenkron 6.4 Economic Convergence
Allocative efficiency 2.2 The Production Possibilities Frontier and Social Choices
American Recovery and Reinvestment Act of 2009 11.2 The Building Blocks of Keynesian Analysis
appreciating 15.1 How the Foreign Exchange Market Works
arbitrage 15.2 Demand and Supply Shifts in Foreign Exchange Markets
Asian Financial Crisis 18.5 Balance of Trade Concerns
asset 13.3 The Role of Banks
asset-liability time mismatch 13.3 The Role of Banks
assets 14.2 Bank Regulation
automatic stabilizers 16.5 Automatic Stabilizers, 18.3 Causes of Unemployment around the World
B
balance of payments 9.3 Trade Balances and Flows of Financial Capital
balance of trade Introduction to the International Trade and Capital Flows, 9.6 The Difference between Level of Trade and the Trade Balance, 15.4 Exchange Rate Policies
balance sheet 13.3 The Role of Banks
balanced budget 16.1 Government Spending, 16.7 The Question of a Balanced Budget
bank capital 13.3 The Role of Banks, 14.2 Bank Regulation
Bank regulation 14.2 Bank Regulation
bank run 14.2 Bank Regulation
banking system 13.2 Measuring Money: Currency, M1, and M2
bankrupt 15.3 Macroeconomic Effects of Exchange Rates
bar graph Appendix A The Use of Mathematics in Principles of Economics
Barter 13.1 Defining Money by Its Functions
base year 8.1 Tracking Inflation
basic quantity equation of money 14.5 Pitfalls for Monetary Policy
basket of goods and services 8.1 Tracking Inflation
bonds 8.5 Indexing and Its Limitations, 13.3 The Role of Banks, 14.3 How a Central Bank Executes Monetary Policy, Appendix C Present Discounted Value
budget constraint 2.1 How Individuals Make Choices Based on Their Budget Constraint, Appendix B Indifference Curves
budget deficit 16.1 Government Spending
budget line Appendix B Indifference Curves
budget surplus 16.1 Government Spending
Bureau of Economic Analysis (BEA) 9.1 Measuring Trade Balances
Bureau of Labor Statistics 5.5 How Well GDP Measures the Well-Being of Society
business confidence 10.4 Shifts in Aggregate Demand
business cycle 5.3 Tracking Real GDP over Time
C
capital deepening 6.3 Components of Economic Growth
central bank 14.1 The Federal Reserve Banking System and Central Banks, 14.5 Pitfalls for Monetary Policy, 15.3 Macroeconomic Effects of Exchange Rates, 15.4 Exchange Rate Policies
certificates of deposit (CDs) 13.2 Measuring Money: Currency, M1, and M2
ceteris paribus 3.2 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
circular flow diagram 1.3 How Economists Use Theories and Models to Understand Economic Issues
coins and currency in circulation 13.2 Measuring Money: Currency, M1, and M2
command economy 1.4 How Economies Can Be Organized: An Overview of Economic Systems
commodity money 13.1 Defining Money by Its Functions
Commodity-backed currencies 13.1 Defining Money by Its Functions
comparative advantage 1.1 What Is Economics, and Why Is It Important?, 2.2 The Production Possibilities Frontier and Social Choices, 9.3 Trade Balances and Flows of Financial Capital
complements 3.2 Shifts in Demand and Supply for Goods and Services
compound growth rate 6.2 Labor Productivity and Economic Growth
consumer confidence 10.4 Shifts in Aggregate Demand
Consumer Price Index (CPI) 8.2 How Changes in the Cost of Living Are Measured
consumer surplus 3.5 Demand, Supply and Efficiency
consumption budget constraint 2.2 The Production Possibilities Frontier and Social Choices
consumption demand 5.1 Measuring the Size of the Economy: Gross Domestic Product
contractionary fiscal policy 11.4 The Phillips Curve, 16.4 Using Fiscal Policy to Fight Recession, Unemployment, and Inflation
contractionary monetary policy 14.4 Monetary Policy and Economic Outcomes, 15.4 Exchange Rate Policies, 17.2 Fiscal Policy, Investment, and Economic Growth
contractual rights 6.1 The Relatively Recent Arrival of Economic Growth
convergence 6.4 Economic Convergence
converging economy 18.4 Causes of Inflation in Various Countries and Regions
coordination argument 11.2 The Building Blocks of Keynesian Analysis
core competency 1.1 What Is Economics, and Why Is It Important?
core inflation index 8.2 How Changes in the Cost of Living Are Measured
corporate income tax 16.2 Taxation
cost 2.2 The Production Possibilities Frontier and Social Choices
cost of living 8.2 How Changes in the Cost of Living Are Measured
cost-of-living adjustments (COLAs) 8.5 Indexing and Its Limitations
countercyclical 14.4 Monetary Policy and Economic Outcomes
credit card 13.2 Measuring Money: Currency, M1, and M2
credit union 13.3 The Role of Banks
crowding out 16.6 Practical Problems with Discretionary Fiscal Policy, 17.2 Fiscal Policy, Investment, and Economic Growth
current account balance 9.1 Measuring Trade Balances
cyclical unemployment 7.3 What Causes Changes in Unemployment over the Short Run, 10.5 How the AD/AS Model Incorporates Growth, Unemployment, and Inflation, 12.2 The Policy Implications of the Neoclassical Perspective
D
deadweight loss 3.5 Demand, Supply and Efficiency
dealers 15.1 How the Foreign Exchange Market Works
debit card 13.2 Measuring Money: Currency, M1, and M2
deficit 17.1 How Government Borrowing Affects Investment and the Trade Balance
deflation 8.3 How the U.S. and Other Countries Experience Inflation, 14.5 Pitfalls for Monetary Policy
demand 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 5.1 Measuring the Size of the Economy: Gross Domestic Product, 10.1 Macroeconomic Perspectives on Demand and Supply, Introduction to Exchange Rates and International Capital Flows
demand and supply diagram 3.5 Demand, Supply and Efficiency
demand and supply models 4.3 The Market System as an Efficient Mechanism for Information
demand curve 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 3.2 Shifts in Demand and Supply for Goods and Services, 15.2 Demand and Supply Shifts in Foreign Exchange Markets, 17.2 Fiscal Policy, Investment, and Economic Growth
demand deposits 13.2 Measuring Money: Currency, M1, and M2
demand schedule 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services
deposit insurance 14.2 Bank Regulation
depository institutions 13.3 The Role of Banks
depreciating 15.1 How the Foreign Exchange Market Works
depreciation 5.1 Measuring the Size of the Economy: Gross Domestic Product
depression 5.3 Tracking Real GDP over Time, 7.2 Patterns of Unemployment
diminishing marginal utility Appendix B Indifference Curves
direct investment 15.4 Exchange Rate Policies
discount rate 14.3 How a Central Bank Executes Monetary Policy
Discouraged workers 7.1 How the Unemployment Rate Is Defined and Computed
discretionary fiscal policy 16.5 Automatic Stabilizers, 18.3 Causes of Unemployment around the World
disposable income 11.1 Aggregate Demand in Keynesian Analysis
diversify 13.3 The Role of Banks
division of labor 1.1 What Is Economics, and Why Is It Important?
dollarize 15.1 How the Foreign Exchange Market Works
double coincidence of wants 13.1 Defining Money by Its Functions
double counting 5.1 Measuring the Size of the Economy: Gross Domestic Product
Dow Jones 14.5 Pitfalls for Monetary Policy
durable goods 5.1 Measuring the Size of the Economy: Gross Domestic Product
E
East Asian Tigers 18.2 Improving Countries’ Standards of Living
economic efficiency 2.3 Confronting Objections to the Economic Approach
economic growth Introduction to Money and Banking
economic surplus 3.5 Demand, Supply and Efficiency
Economics 1.1 What Is Economics, and Why Is It Important?
economies of scale 1.1 What Is Economics, and Why Is It Important?
efficiency 3.5 Demand, Supply and Efficiency
Efficiency wage theory 7.3 What Causes Changes in Unemployment over the Short Run
Employment Cost Index 8.2 How Changes in the Cost of Living Are Measured
equilibrium 3.1 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
equilibrium exchange rate 15.2 Demand and Supply Shifts in Foreign Exchange Markets
equilibrium price 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services
equilibrium quantity 3.1 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 tax 16.2 Taxation
Esther Duflo 18.2 Improving Countries’ Standards of Living
European Union (EU) 3.4 Price Ceilings and Price Floors
excess demand 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services
excess reserves 14.5 Pitfalls for Monetary Policy
excess supply 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services
exchange rate 5.4 Comparing GDP among Countries, Introduction to Exchange Rates and International Capital Flows, 17.4 Fiscal Policy and the Trade Balance
exchange rates 14.5 Pitfalls for Monetary Policy
excise tax 16.2 Taxation
expansionary fiscal policy 11.4 The Phillips Curve, 16.4 Using Fiscal Policy to Fight Recession, Unemployment, and Inflation
expansionary monetary policy 14.4 Monetary Policy and Economic Outcomes, 15.4 Exchange Rate Policies, 17.2 Fiscal Policy, Investment, and Economic Growth, 18.3 Causes of Unemployment around the World
expected inflation 12.2 The Policy Implications of the Neoclassical Perspective
expenditure multiplier 11.2 The Building Blocks of Keynesian Analysis
Exports 1.4 How Economies Can Be Organized: An Overview of Economic Systems, 9.1 Measuring Trade Balances, 10.2 Building a Model of Aggregate Demand and Aggregate Supply, 11.1 Aggregate Demand in Keynesian Analysis, 15.3 Macroeconomic Effects of Exchange Rates
exports of goods and services as a percentage of GDP 9.2 Trade Balances in Historical and International Context
F
factors of production 3.2 Shifts in Demand and Supply for Goods and Services
Federal Deposit Insurance Corporation (FDIC) 14.2 Bank Regulation
federal funds rate 14.4 Monetary Policy and Economic Outcomes
Federal Open Market Committee (FOMC) 14.3 How a Central Bank Executes Monetary Policy
Federal Reserve 14.1 The Federal Reserve Banking System and Central Banks, 14.2 Bank Regulation, 14.5 Pitfalls for Monetary Policy, 17.2 Fiscal Policy, Investment, and Economic Growth, 18.5 Balance of Trade Concerns
Federal Reserve Bank 13.2 Measuring Money: Currency, M1, and M2
Federal Reserve Economic Data (FRED) 7.2 Patterns of Unemployment, 15.1 How the Foreign Exchange Market Works
fiat money 13.1 Defining Money by Its Functions
final goods and services 5.1 Measuring the Size of the Economy: Gross Domestic Product
financial capital 4.2 Demand and Supply in Financial Markets, 9.3 Trade Balances and Flows of Financial Capital, 9.4 The National Saving and Investment Identity, 14.5 Pitfalls for Monetary Policy, 17.1 How Government Borrowing Affects Investment and the Trade Balance
financial capital market 9.4 The National Saving and Investment Identity
financial capital markets 16.6 Practical Problems with Discretionary Fiscal Policy, 17.1 How Government Borrowing Affects Investment and the Trade Balance
financial intermediary 13.3 The Role of Banks
firm 2.2 The Production Possibilities Frontier and Social Choices, 3.2 Shifts in Demand and Supply for Goods and Services
firms 15.1 How the Foreign Exchange Market Works
Fiscal policy 1.2 Microeconomics and Macroeconomics, Introduction to Government Budgets and Fiscal Policy, 18.3 Causes of Unemployment around the World
floating exchange rate 15.4 Exchange Rate Policies
Foreign direct investment (FDI) 15.1 How the Foreign Exchange Market Works
foreign exchange market 15.1 How the Foreign Exchange Market Works, 15.2 Demand and Supply Shifts in Foreign Exchange Markets
foreign financial capital 9.4 The National Saving and Investment Identity
foreign investment capital 15.3 Macroeconomic Effects of Exchange Rates
FRED 15.4 Exchange Rate Policies
frictional unemployment 7.4 What Causes Changes in Unemployment over the Long Run
full-employment GDP 10.2 Building a Model of Aggregate Demand and Aggregate Supply
function Appendix A The Use of Mathematics in Principles of Economics
G
GDP 15.1 How the Foreign Exchange Market Works, 15.2 Demand and Supply Shifts in Foreign Exchange Markets
GDP deflator 5.2 Adjusting Nominal Values to Real Values, 8.2 How Changes in the Cost of Living Are Measured
GDP per capita 5.4 Comparing GDP among Countries, 5.5 How Well GDP Measures the Well-Being of Society, 6.3 Components of Economic Growth, 10.3 Shifts in Aggregate Supply, 18.1 The Diversity of Countries and Economies across the World
globalization 1.4 How Economies Can Be Organized: An Overview of Economic Systems
good 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services
goods and services market 1.3 How Economists Use Theories and Models to Understand Economic Issues
Great Depression 5.3 Tracking Real GDP over Time, 10.1 Macroeconomic Perspectives on Demand and Supply, Introduction to the Neoclassical Perspective, 12.3 Balancing Keynesian and Neoclassical Models
Great Recession 5.1 Measuring the Size of the Economy: Gross Domestic Product, 5.3 Tracking Real GDP over Time, 8.3 How the U.S. and Other Countries Experience Inflation, Introduction to the Neoclassical Perspective, 18.3 Causes of Unemployment around the World
gross domestic product (GDP) 1.4 How Economies Can Be Organized: An Overview of Economic Systems, 5.1 Measuring the Size of the Economy: Gross Domestic Product
gross national product (GNP) 5.1 Measuring the Size of the Economy: Gross Domestic Product
growth consensus 18.2 Improving Countries’ Standards of Living
growth rate Appendix A The Use of Mathematics in Principles of Economics
H
hard peg 15.4 Exchange Rate Policies
Head Start program 17.2 Fiscal Policy, Investment, and Economic Growth
hedge 15.1 How the Foreign Exchange Market Works
hidden unemployment 7.1 How the Unemployment Rate Is Defined and Computed
Human capital 6.2 Labor Productivity and Economic Growth, 12.1 The Building Blocks of Neoclassical Analysis, 16.7 The Question of a Balanced Budget, 17.2 Fiscal Policy, Investment, and Economic Growth, 18.2 Improving Countries’ Standards of Living
hyperinflation 8.3 How the U.S. and Other Countries Experience Inflation
I
implementation lag 16.6 Practical Problems with Discretionary Fiscal Policy
implicit contract 7.3 What Causes Changes in Unemployment over the Short Run
Imports 1.4 How Economies Can Be Organized: An Overview of Economic Systems, 9.1 Measuring Trade Balances, 10.2 Building a Model of Aggregate Demand and Aggregate Supply, 11.1 Aggregate Demand in Keynesian Analysis
income effect Appendix B Indifference Curves
income payments 9.1 Measuring Trade Balances
index number 8.1 Tracking Inflation
indexed 8.5 Indexing and Its Limitations
indifference curve Appendix B Indifference Curves
individual income tax 16.2 Taxation
Industrial Revolution 6.1 The Relatively Recent Arrival of Economic Growth
infant industry argument 18.5 Balance of Trade Concerns
inferior good 3.2 Shifts in Demand and Supply for Goods and Services
Inflation Introduction to Inflation, Introduction to the Aggregate Demand/Aggregate Supply Model, 10.5 How the AD/AS Model Incorporates Growth, Unemployment, and Inflation, 11.4 The Phillips Curve, Introduction to Money and Banking, 14.1 The Federal Reserve Banking System and Central Banks, 18.4 Causes of Inflation in Various Countries and Regions
inflation rate 14.4 Monetary Policy and Economic Outcomes
inflation targeting 14.5 Pitfalls for Monetary Policy
inflationary gap 11.1 Aggregate Demand in Keynesian Analysis
infrastructure 6.3 Components of Economic Growth, 16.7 The Question of a Balanced Budget
innovation 6.2 Labor Productivity and Economic Growth
inputs 3.2 Shifts in Demand and Supply for Goods and Services
insider-outsider model 7.3 What Causes Changes in Unemployment over the Short Run
interbank market 15.1 How the Foreign Exchange Market Works
interest rate 4.2 Demand and Supply in Financial Markets, 11.1 Aggregate Demand in Keynesian Analysis, Appendix C Present Discounted Value
interest rates 14.1 The Federal Reserve Banking System and Central Banks, 14.4 Monetary Policy and Economic Outcomes
Intermediate goods 5.1 Measuring the Size of the Economy: Gross Domestic Product
intermediate zone 10.6 Keynes’ Law and Say’s Law in the AD/AS Model
international capital flows 15.4 Exchange Rate Policies
international financial flows 15.4 Exchange Rate Policies
International Price Index 8.2 How Changes in the Cost of Living Are Measured
international trade 15.3 Macroeconomic Effects of Exchange Rates
intertemporal choices 2.3 Confronting Objections to the Economic Approach
intertemporal decision making 4.2 Demand and Supply in Financial Markets
invention 6.2 Labor Productivity and Economic Growth
inventories 5.1 Measuring the Size of the Economy: Gross Domestic Product
Investment demand 5.1 Measuring the Size of the Economy: Gross Domestic Product
Investment expenditure 5.1 Measuring the Size of the Economy: Gross Domestic Product, 11.1 Aggregate Demand in Keynesian Analysis
investment income 9.3 Trade Balances and Flows of Financial Capital
invisible hand 2.3 Confronting Objections to the Economic Approach
involuntary unemployment 7.3 What Causes Changes in Unemployment over the Short Run
J
James Tobin 15.4 Exchange Rate Policies
Jan Luiten van Zanden 6.1 The Relatively Recent Arrival of Economic Growth
Janet L. Yellen 14.1 The Federal Reserve Banking System and Central Banks
Jean-Baptiste Say 10.1 Macroeconomic Perspectives on Demand and Supply
John Maynard Keynes 1.3 How Economists Use Theories and Models to Understand Economic Issues, 10.1 Macroeconomic Perspectives on Demand and Supply, 12.1 The Building Blocks of Neoclassical Analysis, 16.6 Practical Problems with Discretionary Fiscal Policy
K
Keynes’ law 10.1 Macroeconomic Perspectives on Demand and Supply, 10.6 Keynes’ Law and Say’s Law in the AD/AS Model
Keynesian aggregate supply curve 14.4 Monetary Policy and Economic Outcomes
Keynesian economic model 18.3 Causes of Unemployment around the World
Keynesian economics 12.1 The Building Blocks of Neoclassical Analysis, 12.3 Balancing Keynesian and Neoclassical Models
Keynesian macroeconomic policy 16.7 The Question of a Balanced Budget
Keynesian zone 10.6 Keynes’ Law and Say’s Law in the AD/AS Model
L
labor force participation rate 7.1 How the Unemployment Rate Is Defined and Computed
labor market 1.3 How Economists Use Theories and Models to Understand Economic Issues, 4.1 Demand and Supply at Work in Labor Markets, 7.3 What Causes Changes in Unemployment over the Short Run
labor markets 8.4 The Confusion Over Inflation
Labor productivity 6.2 Labor Productivity and Economic Growth
labor-leisure diagram Appendix B Indifference Curves
law of demand 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 4.2 Demand and Supply in Financial Markets
law of diminishing marginal utility 2.1 How Individuals Make Choices Based on Their Budget Constraint
law of diminishing returns 2.2 The Production Possibilities Frontier and Social Choices, 6.4 Economic Convergence
law of supply 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services
legislative lag 16.6 Practical Problems with Discretionary Fiscal Policy
lender of last resort 14.2 Bank Regulation
level of trade 9.6 The Difference between Level of Trade and the Trade Balance
leverage cycle 14.5 Pitfalls for Monetary Policy
liability 13.3 The Role of Banks
line graphs Appendix A The Use of Mathematics in Principles of Economics
Liquidity 13.2 Measuring Money: Currency, M1, and M2
living wage 4.1 Demand and Supply at Work in Labor Markets
loan market 13.3 The Role of Banks
long run aggregate supply (LRAS) curve 10.2 Building a Model of Aggregate Demand and Aggregate Supply
loose monetary policy 14.4 Monetary Policy and Economic Outcomes
low-income countries 7.2 Patterns of Unemployment
M
M1 14.5 Pitfalls for Monetary Policy
M1 money supply 13.2 Measuring Money: Currency, M1, and M2
M2 14.5 Pitfalls for Monetary Policy
M2 money supply 13.2 Measuring Money: Currency, M1, and M2
macro economy 7.3 What Causes Changes in Unemployment over the Short Run
macroeconomic externality 11.2 The Building Blocks of Keynesian Analysis
Macroeconomics 1.2 Microeconomics and Macroeconomics
marginal analysis 2.1 How Individuals Make Choices Based on Their Budget Constraint
marginal rate of substitution Appendix B Indifference Curves
marginal tax rates 16.2 Taxation
marginal utility Appendix B Indifference Curves
market 1.4 How Economies Can Be Organized: An Overview of Economic Systems
market economy 1.4 How Economies Can Be Organized: An Overview of Economic Systems, 2.2 The Production Possibilities Frontier and Social Choices, 7.4 What Causes Changes in Unemployment over the Long Run, 8.4 The Confusion Over Inflation
median Appendix A The Use of Mathematics in Principles of Economics
medium of exchange 13.1 Defining Money by Its Functions
menu costs 11.2 The Building Blocks of Keynesian Analysis
merchandise trade balance 9.1 Measuring Trade Balances
merged currency 15.4 Exchange Rate Policies
Microeconomics 1.2 Microeconomics and Macroeconomics
Milton Friedman 12.2 The Policy Implications of the Neoclassical Perspective, 14.5 Pitfalls for Monetary Policy, 15.4 Exchange Rate Policies
minimum wage 4.1 Demand and Supply at Work in Labor Markets, 7.3 What Causes Changes in Unemployment over the Short Run, 8.4 The Confusion Over Inflation
model 1.3 How Economists Use Theories and Models to Understand Economic Issues
modern economic growth 6.1 The Relatively Recent Arrival of Economic Growth
Monetary policy 1.2 Microeconomics and Macroeconomics, 14.1 The Federal Reserve Banking System and Central Banks, 14.3 How a Central Bank Executes Monetary Policy, 15.4 Exchange Rate Policies, Introduction to Government Budgets and Fiscal Policy
money 13.1 Defining Money by Its Functions
money market funds 13.2 Measuring Money: Currency, M1, and M2
money multiplier 14.5 Pitfalls for Monetary Policy
money multiplier formula 13.4 How Banks Create Money
N
Nasdaq 14.5 Pitfalls for Monetary Policy
National Bureau of Economic Research 18.5 Balance of Trade Concerns
National Bureau of Economic Research (NBER) 5.3 Tracking Real GDP over Time
National Credit Union Administration (NCUA) 14.2 Bank Regulation
national debt 16.3 Federal Deficits and the National Debt
national income 5.1 Measuring the Size of the Economy: Gross Domestic Product
national saving and investment identity 9.4 The National Saving and Investment Identity
natural rate of unemployment 7.4 What Causes Changes in Unemployment over the Long Run, 10.5 How the AD/AS Model Incorporates Growth, Unemployment, and Inflation, 12.2 The Policy Implications of the Neoclassical Perspective
negative slope Appendix A The Use of Mathematics in Principles of Economics
neoclassical determinants of growth 18.1 The Diversity of Countries and Economies across the World
neoclassical economists 10.1 Macroeconomic Perspectives on Demand and Supply
neoclassical model 14.5 Pitfalls for Monetary Policy
neoclassical perspective 12.1 The Building Blocks of Neoclassical Analysis
neoclassical zone 10.6 Keynes’ Law and Say’s Law in the AD/AS Model
Net national product (NNP) 5.1 Measuring the Size of the Economy: Gross Domestic Product
net worth 13.3 The Role of Banks, 14.2 Bank Regulation
nominal GDP 5.2 Adjusting Nominal Values to Real Values, 14.5 Pitfalls for Monetary Policy
nominal interest rate 8.4 The Confusion Over Inflation, 14.5 Pitfalls for Monetary Policy
nominal value 5.2 Adjusting Nominal Values to Real Values
nondurable goods 5.1 Measuring the Size of the Economy: Gross Domestic Product
normal good 3.2 Shifts in Demand and Supply for Goods and Services
normative statements 2.3 Confronting Objections to the Economic Approach
North American Free Trade Agreement (NAFTA) 18.5 Balance of Trade Concerns
O
open market operations 14.3 How a Central Bank Executes Monetary Policy
opportunity cost 2.1 How Individuals Make Choices Based on Their Budget Constraint, Introduction to Unemployment, 15.4 Exchange Rate Policies
opportunity set 2.1 How Individuals Make Choices Based on Their Budget Constraint, Appendix B Indifference Curves
out of the labor force 7.1 How the Unemployment Rate Is Defined and Computed
P
payment system 13.3 The Role of Banks
payroll tax 16.2 Taxation
peak 5.3 Tracking Real GDP over Time
pensions 8.4 The Confusion Over Inflation
per capita GDP 8.1 Tracking Inflation, 9.5 The Pros and Cons of Trade Deficits and Surpluses
percentage change 8.1 Tracking Inflation
Pew Research Center for People and the Press 3.3 Changes in Equilibrium Price and Quantity: The Four-Step Process
Phillips curve 11.4 The Phillips Curve, 12.2 The Policy Implications of the Neoclassical Perspective
physical capital 6.3 Components of Economic Growth, 17.2 Fiscal Policy, Investment, and Economic Growth, 18.2 Improving Countries’ Standards of Living
Physical capital per person 12.1 The Building Blocks of Neoclassical Analysis
pie chart Appendix A The Use of Mathematics in Principles of Economics
pie graph Appendix A The Use of Mathematics in Principles of Economics
Pierre Mohnen 6.3 Components of Economic Growth
portfolio investment 15.1 How the Foreign Exchange Market Works, 15.4 Exchange Rate Policies
positive slope Appendix A The Use of Mathematics in Principles of Economics
positive statements 2.3 Confronting Objections to the Economic Approach
potential GDP 10.2 Building a Model of Aggregate Demand and Aggregate Supply, 11.1 Aggregate Demand in Keynesian Analysis, 11.4 The Phillips Curve, 12.1 The Building Blocks of Neoclassical Analysis, 14.4 Monetary Policy and Economic Outcomes, 14.5 Pitfalls for Monetary Policy
present discounted value (PDV) Appendix C Present Discounted Value
price 2.1 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
price ceiling 3.4 Price Ceilings and Price Floors, 3.5 Demand, Supply and Efficiency
price control 3.5 Demand, Supply and Efficiency
Price controls 3.4 Price Ceilings and Price Floors, 4.3 The Market System as an Efficient Mechanism for Information
price floor 3.4 Price Ceilings and Price Floors, 3.5 Demand, Supply and Efficiency
price level 8.1 Tracking Inflation
private enterprise 1.4 How Economies Can Be Organized: An Overview of Economic Systems
private markets 8.5 Indexing and Its Limitations
Producer Price Index (PPI) 8.2 How Changes in the Cost of Living Are Measured
producer surplus 3.5 Demand, Supply and Efficiency
production function 6.2 Labor Productivity and Economic Growth
production possibilities frontier (PPF) 2.2 The Production Possibilities Frontier and Social Choices
Productive efficiency 2.2 The Production Possibilities Frontier and Social Choices
Productivity growth 6.2 Labor Productivity and Economic Growth, 10.3 Shifts in Aggregate Supply
progressive tax 16.2 Taxation
property rights 6.1 The Relatively Recent Arrival of Economic Growth
proportional tax 16.2 Taxation
purchasing power parity 18.1 The Diversity of Countries and Economies across the World
purchasing power parity (PPP) 5.4 Comparing GDP among Countries, 15.2 Demand and Supply Shifts in Foreign Exchange Markets
Q
quality/new goods bias 8.2 How Changes in the Cost of Living Are Measured
quantitative easing (QE) 14.4 Monetary Policy and Economic Outcomes
quantity demanded 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 15.4 Exchange Rate Policies
quantity supplied 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 15.4 Exchange Rate Policies
R
rational expectations 12.1 The Building Blocks of Neoclassical Analysis
real GDP 5.2 Adjusting Nominal Values to Real Values, Introduction to the International Trade and Capital Flows, 9.5 The Pros and Cons of Trade Deficits and Surpluses, 11.1 Aggregate Demand in Keynesian Analysis, 12.1 The Building Blocks of Neoclassical Analysis, 14.5 Pitfalls for Monetary Policy, 14.5 Pitfalls for Monetary Policy
real interest rate 8.4 The Confusion Over Inflation
real value 5.2 Adjusting Nominal Values to Real Values
recession 5.3 Tracking Real GDP over Time, 7.2 Patterns of Unemployment, 10.1 Macroeconomic Perspectives on Demand and Supply, 10.4 Shifts in Aggregate Demand, 11.2 The Building Blocks of Keynesian Analysis, 14.5 Pitfalls for Monetary Policy, 17.4 Fiscal Policy and the Trade Balance, 18.3 Causes of Unemployment around the World
recessionary gap 11.1 Aggregate Demand in Keynesian Analysis
recognition lag 16.6 Practical Problems with Discretionary Fiscal Policy
redistributions 8.4 The Confusion Over Inflation, 8.4 The Confusion Over Inflation
regressive tax 16.2 Taxation
relative wage coordination argument 7.3 What Causes Changes in Unemployment over the Short Run
reserve requirement 14.3 How a Central Bank Executes Monetary Policy
reserves 13.3 The Role of Banks, 14.2 Bank Regulation, 14.3 How a Central Bank Executes Monetary Policy, 15.4 Exchange Rate Policies
revenue 16.3 Federal Deficits and the National Debt
Ricardian equivalence 17.3 How Government Borrowing Affects Private Saving
Richard Easterlin 6.1 The Relatively Recent Arrival of Economic Growth
Robert Shiller 8.4 The Confusion Over Inflation
Robert Solow 12.3 Balancing Keynesian and Neoclassical Models
rule of law 6.1 The Relatively Recent Arrival of Economic Growth
S
salary 4.1 Demand and Supply at Work in Labor Markets
savings deposits 13.2 Measuring Money: Currency, M1, and M2
Say’s law 10.1 Macroeconomic Perspectives on Demand and Supply, 10.6 Keynes’ Law and Say’s Law in the AD/AS Model
Scarcity 1.1 What Is Economics, and Why Is It Important?, 2.3 Confronting Objections to the Economic Approach
Sebastian Edwards 18.5 Balance of Trade Concerns
Securitization 13.3 The Role of Banks
service 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services
services 5.1 Measuring the Size of the Economy: Gross Domestic Product, 11.1 Aggregate Demand in Keynesian Analysis
shift in demand 3.2 Shifts in Demand and Supply for Goods and Services
shift in supply 3.2 Shifts in Demand and Supply for Goods and Services
short run aggregate supply (SRAS) curve 10.2 Building a Model of Aggregate Demand and Aggregate Supply
shortage 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services
shortages 8.4 The Confusion Over Inflation
slope 2.2 The Production Possibilities Frontier and Social Choices, Appendix A The Use of Mathematics in Principles of Economics
smart card 13.2 Measuring Money: Currency, M1, and M2
Social Security Indexing Act of 1972 8.5 Indexing and Its Limitations
social surplus 3.5 Demand, Supply and Efficiency
soft peg 15.4 Exchange Rate Policies
special economic zones (SEZ) 6.3 Components of Economic Growth
specialization 1.1 What Is Economics, and Why Is It Important?
stagflation 10.3 Shifts in Aggregate Supply, 11.4 The Phillips Curve
standard of deferred payment 13.1 Defining Money by Its Functions
standard of living 5.5 How Well GDP Measures the Well-Being of Society
standardized employment budget 16.5 Automatic Stabilizers
standards of living 18.1 The Diversity of Countries and Economies across the World
sticky 7.3 What Causes Changes in Unemployment over the Short Run
sticky wages and prices 11.2 The Building Blocks of Keynesian Analysis
stocks Appendix C Present Discounted Value
store of value 13.1 Defining Money by Its Functions
structural unemployment 7.4 What Causes Changes in Unemployment over the Long Run
structures 5.1 Measuring the Size of the Economy: Gross Domestic Product
subprime loans 13.3 The Role of Banks
substitute 3.2 Shifts in Demand and Supply for Goods and Services
substitution bias 8.2 How Changes in the Cost of Living Are Measured
substitution effect Appendix B Indifference Curves
sunk costs 2.1 How Individuals Make Choices Based on Their Budget Constraint
supply 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 10.1 Macroeconomic Perspectives on Demand and Supply, Introduction to Exchange Rates and International Capital Flows
supply curve 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 3.2 Shifts in Demand and Supply for Goods and Services, 15.2 Demand and Supply Shifts in Foreign Exchange Markets, 17.2 Fiscal Policy, Investment, and Economic Growth
supply schedule 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services
surplus 3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services, 9.1 Measuring Trade Balances, 17.1 How Government Borrowing Affects Investment and the Trade Balance
surpluses 8.4 The Confusion Over Inflation
T
T-account 13.3 The Role of Banks
tax 10.4 Shifts in Aggregate Demand
Technological change 6.2 Labor Productivity and Economic Growth
technology 6.3 Components of Economic Growth, 18.2 Improving Countries’ Standards of Living
The Land of Funny Money 8.4 The Confusion Over Inflation
theory 1.3 How Economists Use Theories and Models to Understand Economic Issues
tight monetary policy 14.4 Monetary Policy and Economic Outcomes
time deposits 13.2 Measuring Money: Currency, M1, and M2
time series Appendix A The Use of Mathematics in Principles of Economics
Tobin taxes 15.4 Exchange Rate Policies
trade balance 5.1 Measuring the Size of the Economy: Gross Domestic Product
trade deficit 5.1 Measuring the Size of the Economy: Gross Domestic Product, Introduction to the International Trade and Capital Flows, 18.5 Balance of Trade Concerns
trade surplus 5.1 Measuring the Size of the Economy: Gross Domestic Product, Introduction to the International Trade and Capital Flows, 18.5 Balance of Trade Concerns
tradeoffs 2.3 Confronting Objections to the Economic Approach
traditional economy 1.4 How Economies Can Be Organized: An Overview of Economic Systems
Transaction costs 13.3 The Role of Banks
Treasury bills 14.4 Monetary Policy and Economic Outcomes
Treasury bonds 14.4 Monetary Policy and Economic Outcomes
trough 5.3 Tracking Real GDP over Time
twin deficits 17.3 How Government Borrowing Affects Private Saving
U
U.S. Census Bureau 3.2 Shifts in Demand and Supply for Goods and Services
U.S. Department of Commerce 9.1 Measuring Trade Balances
U.S. Patent and Trademark Office 6.3 Components of Economic Growth
underemployed 7.1 How the Unemployment Rate Is Defined and Computed
underground economies 1.4 How Economies Can Be Organized: An Overview of Economic Systems
unemployment Introduction to the Aggregate Demand/Aggregate Supply Model, 10.5 How the AD/AS Model Incorporates Growth, Unemployment, and Inflation, 11.4 The Phillips Curve, Introduction to Money and Banking, 14.1 The Federal Reserve Banking System and Central Banks, 18.3 Causes of Unemployment around the World
unemployment rate 7.1 How the Unemployment Rate Is Defined and Computed, 14.4 Monetary Policy and Economic Outcomes
unilateral transfers 9.1 Measuring Trade Balances
unit of account 13.1 Defining Money by Its Functions
usury laws 4.2 Demand and Supply in Financial Markets
utility 2.1 How Individuals Make Choices Based on Their Budget Constraint, Appendix B Indifference Curves
V
variable Appendix A The Use of Mathematics in Principles of Economics
velocity 14.5 Pitfalls for Monetary Policy
W
wage 4.1 Demand and Supply at Work in Labor Markets
Wages 7.4 What Causes Changes in Unemployment over the Long Run, 8.1 Tracking Inflation, 8.4 The Confusion Over Inflation
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