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The Fourth Edition represents the most comprehensive revision to date, systematically covering modern economic theory. Aided by examples, illustrations and step-by-step explanations, it provides a clear connection between theory and policy. Highlighting aggregate supply and aggregate demand, the Fourth Edition features new sections on current issues in unemployment, inflation, growth, productivity, and fiscal and monetary policy. More so than in other texts, it provides a complete selection of applied micro topics, including chapters on agriculture, natural resources, government regulation, politics and economics. The many special features that enhance the text include: ''key concepts,'' ''key terms'' and ''key-point summaries;'' running glossaries; many charts, graphs and tables; and end-of-chapter problems.
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Table of Contents
Partial table of contents:
BASIC ECONOMIC CONCEPTS.
Economic Problems and Economic Goals.
Specialization, Exchange, and Money.
The Economic Role of Government.
AN INTRODUCTION TO MACROECONOMICS: HIGH EMPLOYMENT, PRICE STABILITY, AND GROWTH.
Measuring National Product and National Income.
Aggregate Demand and Aggregate Supply: Classical and Keynesian Equilibria.
AGGREGATE DEMAND POLICIES.
The Federal Reserve and Monetary Policy.
GREAT MACROECONOMIC ISSUES: AGGREGATE SUPPLY.
How Can Inflation and Unemployment Coexist?.
How Does Inflation Affect the Economy?.
GREAT MACROECONOMIC ISSUES: AGGREGATE DEMAND.
Monetary Policy and Fiscal Policy: Which Is the Key to Aggregate Demand?.
Fixed or Flexible Exchange Rates?.