Test Bank Principles of Economics 1st Edition by Betsey Stevenson

Test Bank Principles of Economics 1st Edition by Betsey Stevenson

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Test Bank Principles of Economics 1st Edition by Betsey Stevenson

Principles of Economics introduces students to the fundamentals of economics, emphasizing practical applications and economic intuition. The text integrates real-life examples to help students connect theoretical concepts with everyday decisions. It covers both microeconomic and macroeconomic principles, with a focus on developing critical thinking and analytical skills.

ISBN-10: 1429237864, ISBN-13: 978-1429237864

Betsey Stevenson, Justin Wolfers

Table of Contents

Preface
A Quick Review of Math and Graphing

Part I: Foundations of Economics
1. The Core Principles of Economics
2. Demand: Thinking Like a Buyer
3. Supply: Thinking Like a Seller
4. Where Supply Meets Demand

Part II: Analyzing Markets
5. Elasticity: Measuring Responsiveness
6. When Governments Intervene in Markets
7. Welfare and Efficiency
8. The Gains from Trade

Part III: Applications and Policy Issues
9. International Trade
10. Externalities
11. The Labor Market
12. Wages, Workers, and Management
13. Inequality, Social Insurance, and Redistribution

Part IV: Market Structure and Business Strategy
14. Market Structure and Market Power
15. Entry, Exit, and Long Run Profits
16. Business Strategy
17. Sophisticated Pricing Strategies
18. Game Theory & Strategic Choices

Part V: Advanced Decisions
19. Decisions under Uncertainty
20. Decisions with Private Information

Part VI: Economic Growth in the Long Run
21. Sizing Up the Economy
22. Economic Growth
23. Unemployment
24. Inflation

Part VII: Micro Foundations of Macroeconomics
25. Consumption and Saving
26. Investment
27. The Financial Sector
28. International Finance and the Exchange Rate

Part VIII: The Business Cycle
29. Business Cycles
30. IS-MP Analysis: Interest Rates and Output
30A. Aggregate Expenditure and the Multiplier
31. The Phillips Curve
32. The Fed Model: Linking Interest Rates, Output, and Inflation
33. Aggregate Demand and Aggregate Supply

Part IX: Macroeconomic Policy
34. Monetary Policy
35. Government Spending, Taxes, and Fiscal Policy