Economics Principles For A Changing World - 4th Edition - by CHIANG,  Eric P. - ISBN 9781464186660
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Economics Principles For A Changing Wor...
4th Edition
CHIANG, Eric P.
Publisher: Worth Publishers,
ISBN: 9781464186660

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With this edition, Eric Chiang begins a new era for his acclaimed principles of economics textbook. Formerly CoreEconomics and now titled Economics: Principles for a Changing World, the new edition is thoroughly contemporary, fully integrated print/technology resource that adapts to the way you want to teach. As always, this concise book focuses on the topics most often covered in the principles course, but with this edition, it offers a stronger emphasis than ever on helping students apply an economic way of thinking to the overwhelming flow of data we face every day. Economics: Principles for a Changing World is fully informed by Eric Chiang's experiences teaching thousands of students worldwide, both in person and online. Developing the text, art, media, homework, and ancillaries simultaneously, Chiang translates those experiences into a cohesive approach that embodies the book's founding principles:
  • To use technology as a tool for learning -before lectures, during class, when doing homework, and at exam time
  • To help students harness the data literacy they'll need as consumers of economic information
  • To provide a truly global perspective, showing the different ways people around the world confront economic problems

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The monopolistic competition is a market structure that is characterized by the entry of a large...In a market, the individuals make a trade-off between labor and leisure. In this case, if wage rate...The term ‘land’ refers to the natural resources, which come from the land, because the quantity of...The external benefit, which is also known as the positive externality, is enjoyed by a third party...Network externality refers to goods that exhibit network externalities, which signify the fact that...Yes, the life cycle income is more equally distributed than the transitory income. This is because...The business cycle refers to the periods of progress and decline in an economy. There are mainly...The inflation can be calculated using the methods of price index numbers and GDP deflator. The price...A country that has abundant natural resources may not ensure economic growth. It is not a necessary...APC is an average where the total amount spent on consumption is compared to the total income...The interest rate is the cost of borrowing loans. A higher interest rate indicates that the cost of...The government spending in an economy indicates the total consumption, transfer payments, and the...Money is an asset that is widely accepted as a means of payment. The main functions of money are...The required reserve creates the banking system a ‘fractional reserve’ and the banks can lend only...It is Important for the Federal Reserve Board to be independent because independence permits the...If the economy has lot of slacks, the unemployment exceeds by 6%, and the economy can expand with...The concept of absolute advantage is based on the differences in labor cost and comparative...The difference between the values of export and import of a nation in a given period is known as the...

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