Super Review Macroeconomics: All You Need to Know

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Get all you need to know with Super Reviews! Each Super Review is packed with in-depth, student-friendly topic reviews that fully explain everything about the subject. The Macroeconomics Super Review includes economic problems, demand and supply, economic systems, gross national product, income-expenditure models, fiscal-policy issues, money and banking, inflation, and economic growth. Take the Super Review quizzes to see how much you've learned - and where you need more study. Makes an excellent study aid and textbook companion. Great for self-study!

- From cover to cover, each in-depth topic review is easy-to-follow and easy-to-grasp - Perfect when preparing for homework, quizzes, and exams!
- Review questions after each topic that highlight and reinforce key areas and concepts
- Student-friendly language for easy reading and comprehension
- Includes quizzes that test your understanding of the subject

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Product Details

  • ISBN-13: 9780878911899
  • Publisher: Research & Education Association
  • Publication date: 6/28/2000
  • Series: Super Reviews Study Guides
  • Pages: 240
  • Sales rank: 1,454,281
  • Product dimensions: 5.54 (w) x 8.40 (h) x 0.54 (d)

Read an Excerpt

What This Book Will Do For You...

REA's SUPER REVIEWS provides all you need to know to excel in class and succeed on midterms, finals, and even pop quizzes.

Think of this book as giving you access to your own private tutor. Here, right at your fingertips, is a brisk review to help you not only understand your textbook but also pick up where even some of the best lectures leave off.

Outstanding features include...
- Comprehensive yet concise coverage
- Targeted preparation for subject tests
- Easy-to-follow & format that helps you master the subject matter
- End-of-chapter quizzes that provide pretest tune-up

We think you'll agree that, whether you're prepping for your next test or want to be a stronger contributor in class, REA's truly provides all you need to know!

Larry B. Kling
Super Review Program Director

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Table of Contents

Chapter 1 Introduction to Economics
1.1 What is Economics? 1
1.2 Economic Analysis 2
1.3 The Economic Way of Thinking 4
1.4 Other Important Economic Concepts and Terms 5
Chapter 2 The Economic Problem
2.1 University of the Problem of Scarcity 7
2.2 Universal Problems Caused by Scarcity 8
2.3 Universal Economic Goals 9
2.4 Production Possibilities Curve 11
Chapter 3 Demand and Supply
3.1 Demand 15
3.2 Supply 17
3.3 Market Equilibrium 20
3.4 Shifts in Demand 21
3.5 Shifts in Supply 24
3.6 Price Controls 27
Quiz: Introduction to Economics--Demand and Supply 30
Chapter 4 Economic Systems
4.1 Types of Systems 34
4.2 Circular Flow 36
4.3 How a Market Economy Works 37
4.4 Adam Smith and The Wealth of Nations 42
4.5 Conditions That Must Be Met for a Market Economy to Achieve Allocative and Technical Efficiency 43
4.6 Aptness of the Market Economy Model 45
Chapter 5 The Private Sector of the American Economy
5.1 Private Sector 47
5.2 Households 47
5.3 Types of Business Organization 47
5.4 Distribution of Income and Wealth 50
Chapter 6 The Public Sector of the American Economy
6.1 Public Sector 57
6.2 Government Spending 57
6.3 Taxes 59
6.4 Characteristics of a Good Tax 61
6.5 Principles of Taxation 63
6.6 Deficits, Surpluses, and the Public Debt 65
6.7 Role of Government 65
Quiz: Economic Systems--The Public Sector of the American Economy 68
Chapter 7 Gross National Product
7.1 Measuring GNP 72
7.2 Nominal versus Real Values 75
7.3 Problems with Measuring GNP 78
7.4 Components of GNP and GNI 79
7.5 Other Measures of Income 82
Chapter 8 Macroeconomic Problems of the American Economy
8.1 The Business Cycle 84
8.2 Unemployment 86
8.3 Inflation 91
Quiz: Gross National Product--Macroeconomic Problems of the American Economy 97
Chapter 9 Macroeconomic Models
9.1 What a Good Macroeconomic Model Should Be Able to Do 101
9.2 The Classical Model 101
9.3 The Keynesian Model (Income-Expenditure Model) 104
Quiz: Macroeconomic Models 107
Chapter 10 The Income-Expenditure Model
10.1 Consumption Spending 110
10.2 Investment 115
10.3 Government Spending 118
10.4 Net Exports 118
10.5 Equilibrium in a Closed Private Economy 119
10.6 The Multiplier 122
10.7 Macroeconomic Problems 126
10.8 Fiscal Policy 128
Quiz: The Income-Expenditure Model 133
Chapter 11 Fiscal Policy Issues
11.1 Stabilization Policy 137
11.2 Deficits and the Public Debt 138
Chapter 12 Money and Banking
12.1 What Money Is and Does 145
12.2 The United States' Money Supply 148
12.3 The Financial System 151
12.4 The Money Creation Process 154
Quiz: Fiscal Policy Issues--Money and Banking 160
Chapter 13 Monetary Policy
13.1 The Federal Reserve System 164
13.2 The Demand for Money 171
13.3 Transmission Mechanism for Monetary Policy 172
13.4 Monetarism 173
Chapter 14 Inflation
14.1 Theory of Inflation 178
14.2 Aggregate Demand and Aggregate Supply Model 186
14.3 Anti-Inflation Policy 191
Chapter 15 Economic Growth
15.1 Fundamentals of Economic Growth 196
15.2 Supply-Side Economics 198
Quiz: Monetary Policy--Economic Growth 200
Chapter 16 International Economics
16.1 Income-Expenditure Model with Foreign Sector 204
16.2 International Trade 205
16.3 International Finance 214
Quiz: International Economics 225
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