Economics (with Digital Assets, 2 Term ...12th EditionRoger A. Arnold Publisher: Cengage LearningISBN: 9781285738338
Economics (with Digital Assets, 2 Term ...
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Chapter 1 - What Economics Is AboutChapter 1.2 - A Definition Of EconomicsChapter 1.3 - Key Concepts In EconomicsChapter 1.5 - Ceteris Paribus And TheoryChapter A - Working With DiagramsChapter 2 - Production Possibilities Frontier FrameworkChapter 2.1 - The Production Possibilities FrontierChapter 3 - Supply And Demand: TheoryChapter 3.1 - What Is DemandChapter 3.2 - Supply
Chapter 3.3 - The Market: Putting Supply And Demand TogetherChapter 4 - Prices: Free, Controlled, And RelativeChapter 4.1 - PriceChapter 4.2 - Price ControlsChapter 4.3 - Two Prices: Absolute And RelativeChapter 5 - Supply, Demand, And Price: ApplicationsChapter 5.1 - Application 1: Tickets To The Big Bang TheoryChapter 5.2 - Application 2: Easier To Obtain Loans And Ghigher Housing PricesChapter 5.3 - Application 3: The Price Of An Aisle SeatChapter 5.4 - Application 4: What Will Happen To The Price Of Marijuna If The Purchase And Sale Of Marijuna Are LegalizedChapter 5.5 - Application 5: Speculators, Price Vaiability, And PatternsChapter 5.6 - Application 6: Why Is Medical Care So Expensive?Chapter 5.7 - Application 7: Why Do Colleges Use Gpa,s Actss, And Sats, For Purposes Of Admission?Chapter 5.8 - Application 8: Supply And Demand On A FreewayChapter 5.9 - Application 9: Are Renters Better Off?Chapter 5.10 - Application 10: Do You Pay For Good WeatherChapter 5.11 - Application 11: College Super AthletsChapter 5.12 - Application 12: 10 A. M. Classes In CollegeChapter 5.13 - Application 13: Salsa, Chips And BeerChapter 6 - Macroeconomic Measurements, Part I: Prices And UnemploymentChapter 6.1 - Measuring The Price LevelChapter 6.2 - Measuring UnemploymentChapter 7 - Macroeconomic Measurements, Part Ii: Gdp And Real GdpChapter 7.1 - Gross Domestic ProductChapter 7.2 - The Expenditure Approach To Computing Gdp For A Real World EconomyChapter 7.4 - Real GdpChapter 8 - Aggregate Demand And Aggregate SupplyChapter 8.2 - Aggregate DemandChapter 8.3 - Short-run Aggregate SupplyChapter 8.5 - Long Run Aggregate SupplyChapter 9 - Classical Macro Economics And The Self Regulating EconomyChapter 9.1 - The Classical ViewChapter 9.2 - Three States Of The EconomyChapter 9.3 - The Self Regulating EconomyChapter 10 - Kenesian Macroeconomics And Economic Instability: A Critique Of The Self Regulating EconomyChapter 10.1 - Questioning The Classical Position And The Self Regulating EconomyChapter 10.2 - The Simple Keynesian ModelChapter 10.3 - The Simple Keynesian Model In The Ad-as FrameworkChapter 10.4 - The Simple Keynesian Model In The Te-tp FrameworkChapter 11 - Fiscal Policy And The Federal BudgetChapter 11.1 - The Federal BudgetChapter 11.3 - Demand Side Fiscal PolicyChapter 11.4 - Supply Side Fiscal PolicyChapter 12 - Money, Banking And The Financial SystemChapter 12.2 - Defining The Money SupplyChapter 12.3 - How Banking DevelopedChapter 12.4 - The Financial SystemChapter 13 - The Federal Reserve SystemChapter 13.1 - The Structure And Functions Of The Federal Reserve System (the Fed)Chapter 13.3 - Other Fed Tools And Recent Fed ActionsChapter 14 - Money And The EconomyChapter 14.1 - Money And The Price LevelChapter 14.2 - MonetarismChapter 14.3 - InflationChapter 14.4 - Money And Interest RatesChapter 15 - Monetary PolicyChapter 15.1 - Tansmission MechanismChapter 15.4 - Nonactivist Monetary ProposalsChapter D - Bond Prices And The Interest RateChapter 16 - Expectations Theory And The EconomyChapter 16.2 - The Controversy Begins: Are There Really Two Philps Curve?Chapter 16.3 - Rational Expectations And New Classical TheoryChapter 16.5 - Looking At Things From The Supply Side: Real Nusiness Cycle TheoriesChapter 17 - Economic Growth: Resources, Technology, Ideas And InstitutionsChapter 17.2 - A Production Function And Economic GrowthChapter 18 - The Financial Crisis Of 2007-2009Chapter 18.2 - The Financial Crisis As A Balance Sheet ProblemChapter 18.4 - The Taylor Rule And Interest RateChapter 18.7 - The Role Of Leverage And Reularoty Capital ArbitrageChapter 19 - Debates In Macroeconomics Over The Roles And Effects Of GovernmentChapter 19.10 - Demand-side And Supply-side Views Of The Economy And Government Tools For Changing Real GdpChapter 20 - ElasticityChapter 20.1 - Elasticity: Part 1Chapter 20.2 - Elasticity: Part 2Chapter 20.4 - The Relationship Between Taxes And ElasticityChapter 21 - Consumer Choice: Maximizing Utility And Behavioral EconomicsChapter 21.1 - Utilioty TheoryChapter 21.2 - Consumer Equilibrium And DemandChapter 21.3 - Behavioral EconomicsChapter E - Budget Constraint And Indifference Curve AnalysisChapter 22 - Production And CostsChapter 22.2 - Two Sides To Every Business FirmChapter 22.3 - ProductionChapter 22.4 - Costs Of Production: Total, Average, MarginalChapter 22.5 - Production And Costs In The Long RunChapter 23 - Perfect CompetitionChapter 23.1 - The Theory Of Perfect CompetitionChapter 23.2 - Perfect Competition In The Short RunChapter 23.3 - Perfect Competition In The Long RunChapter 23.4 - Topics For Analysis In The Theory Of Perfect CompetitionChapter 24 - MonopolyChapter 24.1 - The Theory Of MonopolyChapter 24.3 - Perfect Competition And MonopolyChapter 24.5 - Price DiscriminationChapter 25 - Monopolistic Competition, Oligopoly, And Game TheoryChapter 25.1 - The Theory Of Monopolistic CompetitionChapter 25.3 - Price And Output Under Cartel TheoryChapter 26 - Government And Product Markets: Antitrust And RegulationChapter 26.1 - AntitrustChapter 26.2 - RegulationChapter 27 - Factor Markets: With Emphasis On The Labor MarketChapter 27.1 - Factor MarketChapter 27.2 - The Labor MarketChapter 28 - Wages, Unions, And LaborChapter 28.2 - Practices Of Labor UnionsChapter 28.3 - Effects Of Labor UnionsChapter 29 - The Distribution Of Income And PovertyChapter 29.1 - Some Facts About Income DistributionChapter 29.2 - Measuring Income EqualityChapter 29.3 - Why Income Inequality ExistsChapter 29.4 - PovertyChapter 30 - Interest, Rent, And ProfitChapter 30.1 - InterestChapter 30.2 - RentChapter 30.4 - The EntrepreneurChapter 31 - Market Failure: Externalities, Public Goods, And Asymmetric InformationChapter 31.1 - ExternaliesChapter 31.2 - Internalizing ExternalitiesChapter 31.3 - Environmental PolicyChapter 31.4 - Publig Goods: Excludable And Non ExcludableChapter 31.5 - Asymmetric InformationChapter 32 - Public Choice And Special Interet Group PoliticsChapter 32.3 - Voters And Rational IgnoranceChapter 32.4 - More About VotingChapter 32.6 - Constitutional EconomicsChapter 33 - Building Theories To Explain Eveday Life: From Observations To Questions To Theories To PredictionsChapter 33.3 - Observation/thought 1: The Birthrates In Various Countries Are DifferentChapter 33.6 - Observation/thought 4: Criminals Are Not RationalChapter 33.10 - Observation/thought 8: People Who Give To Others Often Complain That They End Up Giving Too MuchChapter 34 - International TradeChapter 34.1 - International Trade TheoryChapter 34.2 - Trade RestictionsChapter 35 - International FinanceChapter 35.2 - Flexible Exchange RateChapter 35.3 - Fixed Exchange RateChapter 36 - Globalization And International Impacts On The EconomyChapter 36.4 - The Movment Towards GlobalizationChapter 36.7 - Less Globaliztion Or More A Tug-of-war?Chapter 36.8 - International Factors And Aggregate DemandChapter 36.10 - Factors That Affect Both Aggregate Demand And Aggregate SupplyChapter 36.11 - Deficits: International Effects And Domestic Feedback
Book Details
Ever wonder why you have the number of friends that you do? Would a tax on soda really reduce obesity? What is going on with the financial problems in Greece? Is a tax rebate is better than a tax bonus? ECONOMICS, 12E answers these questions and many more as this book opens up the world of economic analysis. This edition offers more detailed coverage of the financial and economic crisis than any other economics book of its kind on the market. Memorable examples from pop culture illustrate the unexpected places economics occur and show how economic forces link to every day events. This edition offers complete video assets ideal for self-study. "Video Office Hours" digital lectures walk you through worked problems, while new Progression Graphs demonstrate key concepts in graphing for clarification. A new Test Prep Generator available on MindTap enables you to assess your personal economic understanding. Powerful digital resources, including Aplia, MindTap, and Cengage's CourseMate, work with the book's latest content to reflect today's changing economy and equip you with a thorough understanding of contemporary economics.
Sample Solutions for this Textbook
We offer sample solutions for Economics (with Digital Assets, 2 Term (12 Months) Printed Access Card) homework problems. See examples below:
The opportunity cost will not be equal to all students in the class. The opportunity cost refers to...The relationship between hot dogs and hot dog buns is that both are complementary goods. The goods...Production–possibility frontier is the combination of different combinations of two goods that a...The market demand curve can be derived by adding each individual’s quantity demand at a different...If the demand rises and supply is constant, the equilibrium price and equilibrium quantity would...The reduction in employment when the wage rate is set above the equilibrium is illustrated below: In...Figure 1 shows the demand curve for colleges A and B as follows: In Figure 1, the vertical axis...Consumer price index (CPI) can be calculated using the following formula: Consumer price...Double counting is the problem of estimating the values of goods and services more than once. During...
Figure-1 shows the aggregate demand curve with different price level. In figure-1, the vertical axis...Figure-1 shows the recessionary gap as follows: In Figure-1, the horizontal axis measures the real...If the economy is in the recessionary gap, then the level of output is less than the full employment...Zero crowding out: In zero crowding out effect, the government increases spending, but the private...M1 and M2 indicate the money supply in the economy. The M1 category involves currency held in hand...The required reserve ratio or cash reserve ratio is inversely related to the money supply. The...According to the monetarists, the general equation of exchange is MV=PQ, in which M is the money...The Keynesian transmission mechanism maintains that money supply affects the aggregate demand...The inverse relation between the bond price and its interest rate is shown in the figure below:...A policy adopted by the Fed, which is ineffective at changing real GDP is called the policy...A production function refers to the output or real GDP, which depend on inputs such as labor,...The difference between the assets and liabilities of a bank is its capital or total net worth. If...Figure 1 shows the aggregate demand and supply curve as follows: In Figure 1, the vertical axis...The midpoint formula for calculating price elasticity of demand is given below: Price elasticity of...The utility maximization is consistent with the law of demand. Assume that a bundle of goods X and Y...Since the income is $4,000 and price of good X is $50, the quantity of good X can be calculated as...This theory was developed by the economists Armen Alchian and Harold Demsetz. They suggest that a...Price is always equal to the marginal revenue of a firm in a perfectly competitive market. This is...Monopolists can earn a profit when its price is greater than the average total cost. A monopoly will...The monopolistic market is a blend of monopoly and perfect competition. In the short run, the...There are five firms in the industry namely A, B, C, D, and E. Each firms’ market share is shown in...The marginal revenue product (MRP) shows the market value of the product, and the value marginal...Decline in employment for a given wage increases because of the elasticity of demand for laborers....It cannot be agreed that the total income earned by different income groups must be always earned...Future value (FV) is $1,000. Interest rate (i) is 5%. Time period (n) is 2. Present value (PV) can...The present value (PV) can be calculated using the formula given below: PV=∑An(1+i)n (1) Here An is...The major reason for market failure is negative externality, that is, a third party suffers from the...Suppose the government decides to make a cost benefit analysis in the economy, it takes 6 persons...No theory cannot perfectly describe the reality because the main job of a theory is to find why the...The production of countries A and B is shown in the table below: Table 1 Country Commodity...Suppose there are two countries, namely A and B. If Country A wants to make trade with Country B, A...The important driving forces of globalization in the recent periods are advancing technology, the...
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