http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
1 online resource (xxii, 498 pages) : illustrations
Front Cover; Macroeconomics: Private and Public Choice; Table of Contents; MYTHS OF ECONOMICS; OUTSTANDING ECONOMISTS; PERSPECTIVES IN ECONOMICS AND BOXED FEATURES; PREFACE; ACKNOWLEDGMENTS; PRIVATE AND PUBLIC CHOICETHIRD EDITION; PART ONE: THE ECONOMIC WAY OF THINKING-AN INTRODUCTION; CHAPTER 1. THE ECONOMIC APPROACH; WHAT IS ECONOMICS ABOUT?; THE ECONOMIC WAY OF THINKING; POSITIVE AND NORMATIVE ECONOMICS; WHAT DO ECONOMISTS DO?; CHAPTER 2. SOME TOOLS OF THE ECONOMIST; OPPORTUNITY COST IS THE HIGHEST VALUED OPPORTUNITY LOST; THE PRODUCTION POSSIBILITIES CURVE.
Division of labor, specialization, and exchange in accordance with the law of comparative advantagethree economizing decisions facing all nations: what, how, and for whom?; two methods of making decisions-the market and government planning; chapter 3. supply, demand, and the market process; scarcity necessitates rationing; consumer choice and the law of demand; producer choice and the law of supply; markets and the coordination of supply and demand; shifts in demand and changes in quantity demanded; shifts in supply; time and the adjustment process; repealing the laws of supply and demand.
How the market answers the three basic economic questionsthe communicating, coordinating, and motivating functions of the market; chapter 4. supply and demand for the publicsector; ideal economic efficiency; why might the invisible hand fail?; the economics of collective action; conflicts between good economics and good politics; chapter 5. government spending and taxation; what do federal, state, and local governments buy?; how big is government?; taxes to pay for a growing government; the burden of taxation; who pays the tax bill?; the taxes paid in other countries; part two: macroeconomics.
Chapter 6. taking the nation's economic pulsethe concept of the gnp; two ways of measuring gnp; the expenditure approach; the resource cost-income approach; gross national product or gross national cost?; problems with as a measuring rod; gnp and measuring economic welfare; the great contribution of gnp; other related income measures; the real income-real output link; chapter 7. unemployment, economic instability, and inflation; swings in the economic pendulum; employment fluctuations in a dynamic economy; measuring the inflation rate; the effects of inflation.
Chapter 8. the components of aggregate demandthe historical origins of macroeconomics; the keynesian challenge; the concept of aggregate demand; the determinants of consumption; government expenditures and aggregate demand; net exports as a component of demand; investment and aggregate demand; chapter 9. price, output, and underemployment equilibrium-the keynesian model; the keynesian concept of macroequilibrium; leakages and injections-another way of looking at equilibrium; the multiplier principle; the paradox of thrift; business pessimism-a self-fulfilling prophecy.
James D. Gwartney, Richard Stroup ; with the assistance of A.H. Studenmund.