- Cover
- Title
- Copyright
- About the Authors
- Brief Contents
- Contents
- Preface
- Acknowledgments
- PART 1 INTRODUCTION
- CHAPTER 1 Ten Principles of Economics
- 1-1 How People Make Decisions
- 1-1a Principle #1: People Face Tradeoffs
- 1-1b Principle #2: The Cost of Something Is What You Give Up to Get It
- 1-1c Principle #3: Rational People Think at the Margin
- 1-1d Principle #4: People Respond to Incentives
- In the News: Even Criminals Respond to Incentives
- Case Study: Ready, Set, Go . . .
- 1-2 How People Interact
- 1-2a Principle #5: Trade Can Make Everyone Better Off
- 1-2b Principle #6: Markets Are Usually a Good Way to Organize Economic Activity
- Case Study: Adam Smith Would Have Loved Uber
- 1-2c Principle #7: Governments Can Sometimes Improve Market Outcomes
- 1-3 How the Economy as a Whole Works
- 1-3a Principle #8: A Country’s Standard of Living Depends on Its Ability to Produce Goods and Services
- 1-3b Principle #9: Prices Rise When the Government Prints Too Much Money
- 1-3c Principle #10: Society Faces a Short-Run Tradeoff between Inflation and Unemployment
- 1-4 Conclusion
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- CHAPTER 2 Thinking Like an Economist
- 2-1 The Economist as Scientist
- 2-1a The Scientific Method: Observation, Theory, and More Observation
- 2-1b The Role of Assumptions
- 2-1c Economic Models
- 2-1d Our First Model: The Circular-Flow Diagram
- 2-1e Our Second Model: The Production Possibilities Frontier
- 2-1f Microeconomics and Macroeconomics
- 2-2 The Economist as Policy Adviser
- 2-2a Positive versus Normative Analysis
- 2-2b Economists in Ottawa
- 2-2c Why Economists’ Advice Is Not Always Followed
- 2-3 Why Economists Disagree
- 2-3a Differences in Scientific Judgments
- 2-3b Differences in Values
- 2-3c Perception versus Reality
- Ask the Experts: Ticket Resale
- 2-4 Let’s Get Going
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- Appendix Graphing: A Brief Review
- Graphs of a Single Variable
- Graphs of Two Variables: The Coordinate System
- Curves in the Coordinate System
- Slope
- Graphing Functions
- Cause and Effect
- Omitted Variables
- Reverse Causality
- Problems and Applications
- CHAPTER 3 Interdependence and the Gains from Trade
- 3-1 A Parable for the Modern Economy
- 3-1a Production Possibilities
- 3-1b Specialization and Trade
- 3-2 Comparative Advantage: The Driving Force of Specialization
- 3-2a Absolute Advantage
- 3-2b Opportunity Cost and Comparative Advantage
- 3-2c Comparative Advantage and Trade
- FYI: The Legacy of Adam Smith and David Ricardo
- 3-2d The Price of Trade
- 3-3 Applications of Comparative Advantage
- 3-3a Should Connor McDavid Shovel His Own Sidewalk?
- In the News: The Future of Free Trade in Canada
- 3-3b Should Canada Trade with Other Countries?
- Ask the Experts: Trade with China
- 3-4 Conclusion
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- PART 2 HOW MARKETS WORK
- CHAPTER 4 The Market Forces of Supply and Demand
- 4-1 Markets and Competition
- 4-1a What Is a Market?
- 4-1b What Is Competition?
- 4-2 Demand
- 4-2a The Demand Curve: The Relationship between Price and Quantity Demanded
- 4-2b Market Demand versus Individual Demand
- 4-2c Shifts in the Demand Curve
- Case Study: Two Ways to Reduce the Quantity of Smoking Demanded
- 4-3 Supply
- 4-3a The Supply Curve: The Relationship between Price and Quantity Supplied
- 4-3b Market Supply versus Individual Supply
- 4-3c Shifts in the Supply Curve
- 4-4 Supply and Demand Together
- 4-4a Equilibrium
- 4-4b Three Steps to Analyzing Changes in Equilibrium
- Case Study: Marijuana Legalization
- In the News: Supply, Demand, and Technology
- 4-5 Conclusion: How Prices Allocate Resources
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- Appendix the Mathematics of Market equilibrium
- Problems and Applications
- PART 3 THE DATA OF MACROECONOMICS
- CHAPTER 5 Measuring a Nation’s Income
- 5-1 The Economy’s Income and Expenditure
- 5-2 the Measurement of Gross Domestic product
- 5-2a “GDP Is the Market Value …”
- 5-2b “… Of All …”
- 5-2c “… Final …”
- 5-2d “… Goods and Services …”
- 5-2e “… Produced …”
- 5-2f “… Within a Country …”
- 5-2g “… In a Given Period of Time”
- 5-3 the Components of GDP
- 5-3a Consumption
- 5-3b Investment
- 5-3c Government Purchases
- 5-3d Net Exports
- Case Study: The Components of Canadian GDP
- 5-4 real versus Nominal GDP
- 5-4a A Numerical Example
- 5-4b The GDP Deflator
- Case Study: Real GDP over Recent History
- 5-5 GDp and Economic Well-Being
- FYI: Canada’s Official Poverty Line
- Case Study: Measuring Economic Well-Being in Canada
- Case Study: International Differences in GDP and the Quality of Life
- In the News: Identifying the 1 Percent
- 5-6 Conclusion
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- CHAPTER 6 Measuring the Cost of Living
- 6-1 The Consumer Price Index
- 6-1a How the Consumer Price Index Is Calculated
- 6-1b Problems in Measuring the Cost of Living
- FYI: What Is in the CPI’s Basket?
- 6-1c The GDP Deflator versus the Consumer Price Index
- 6-2 Correcting Economic Variables for the Effects of Inflation
- 6-2a Dollar Figures from Different Times
- FYI: The Bank of Canada’s Inflation Calculator
- Case Study: Mr. Index Goes to Hollywood
- 6-2b Indexation
- 6-2c Real and Nominal Interest Rates
- Case Study: Interest Rates in the Canadian Economy
- 6-3 Conclusion
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- PART 4 THE REAL ECONOMY IN THE LONG RUN
- CHAPTER 7 Production and Growth
- 7-1 Economic Growth Around the World
- FYI: Are You Richer Than the Richest American?
- 7-2 Productivity: Its Role and Determinants
- 7-2a Why Productivity Is So Important
- 7-2b How Productivity Is Determined
- FYI: The Production Function
- Case Study: Are Natural Resources a Limit to Growth?
- 7-3 Economic Growth and Public Policy
- 7-3a The Importance of Saving, Investment, and Stable Financial Markets
- 7-3b Diminishing Returns and the Catch-Up Effect
- 7-3c Investment from Abroad
- 7-3d Education
- In the News: Using Experiments to Evaluate Aid
- 7-3e Health and Nutrition
- 7-3f Property Rights and Political Stability
- 7-3g Free Trade
- In the News: One Economist’s Answer
- 7-3h Research and Development
- Case Study: Productivity Slowdowns and Speedups
- 7-3i Population Growth
- Ask the Experts: Innovation and Growth
- 7-4 Conclusion: The Importance of Long-Run Growth
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- CHAPTER 8 Saving, Investment, and the Financial System
- 8-1 Financial Institutions in the Canadian Economy
- 8-1a Financial Markets
- FYI: How to Read Stock Tables
- 8-1b Financial Intermediaries
- 8-1c Summing Up
- 8-2 Saving and Investment in the National Income Accounts
- FYI: Financial Institutions in Crisis
- 8-2a Some Important Identities
- 8-2b The Meaning of Saving and Investment
- 8-3 The Market for Loanable Funds
- 8-3a Supply and Demand for Loanable Funds
- 8-3b Policy 1: Saving Incentives
- 8-3c Policy 2: Investment Incentives
- 8-3d Policy 3: Government Budget Deficits and Surpluses
- Ask the Experts: Fiscal Policy and Saving
- Case Study: The Accumulation of Government Debt in Canada
- FYI: How Large Is Government Debt?
- 8-4 Conclusion
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- CHAPTER 9 Unemployment and Its Natural Rate
- 9-1 Identifying Unemployment
- 9-1a How Is Unemployment Measured?
- Case Study: Labour-Force Participation of Women in the Canadian Economy
- 9-1b Does the Unemployment Rate Measure What We Want It To?
- FYI: The Employment Rate
- 9-1c How Long Are the Unemployed without Work?
- 9-1d Why Are There Always Some People Unemployed?
- FYI: A Tale of Two Recessions
- 9-2 Job Search
- 9-2a Why Some Frictional Unemployment Is Inevitable
- 9-2b Public Policy and Job Search
- 9-2c Employment Insurance
- 9-3 Minimum-Wage Laws
- FYI: Who Earns the Minimum Wage?
- 9-4 Unions and Collective Bargaining
- 9-4a The Economics of Unions
- 9-4b Are Unions Good or Bad for the Economy?
- 9-5 The Theory of Efficiency Wages
- 9-5a Worker Health
- 9-5b Worker Turnover
- 9-5c Worker Effort
- 9-5d Worker Quality
- Case Study: Henry Ford and the Very Generous $5-a-Day Wage
- FYI: Minimum, Efficiency, and Living Wages
- 9-6 Conclusion
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- PART 5 MONEY AND PRICES IN THE LONG RUN
- CHAPTER 10 The Monetary System
- 10-1 The Meaning of Money
- 10-1a The Functions of Money
- 10-1b The Kinds of Money
- 10-1c Money in the Canadian Economy
- In the News: Why Gold?
- FYI: Credit Cards, Debit Cards, and Money
- Case Study: Where Is All the Currency?
- 10-2 The Bank of Canada
- 10-2a The Bank of Canada Act
- 10-2b Monetary Policy
- 10-3 Commercial Banks and the Money Supply
- 10-3a The Simple Case of 100 Percent-Reserve Banking
- 10-3b Money Creation with Fractional-Reserve Banking
- 10-3c The Money Multiplier
- 10-3d Bank Capital, Leverage, and the Financial Crisis of 2007–09
- 10-3e The Bank of Canada’s Tools of Monetary Control
- 10-3f Problems in Controlling the Money Supply
- FYI: The Bank of Canada’s Response to the 2007–09 Financial Crisis
- Case Study: Bank Runs and the Money Supply
- 10-4 Conclusion
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- CHAPTER 11 Money Growth and Inflation
- 11-1 The Classical Theory of Inflation
- 11-1a The Level of Prices and the Value of Money
- 11-1b Money Supply, Money Demand, and Monetary Equilibrium
- 11-1c The Effects of a Monetary Injection
- 11-1d A Brief Look at the Adjustment Process
- 11-1e The Classical Dichotomy and Monetary Neutrality
- 11-1f Velocity and the Quantity Equation
- Case Study: Money and Prices during Hyperinflations
- 11-1g The Inflation Tax
- FYI: Hyperinflation in Zimbabwe
- 11-1h The Fisher Effect
- 11-2 The Costs of Inflation
- 11-2a A Fall in Purchasing Power? The Inflation Fallacy
- 11-2b Shoeleather Costs
- 11-2c Menu Costs
- 11-2d Relative-Price Variability and the Misallocation of Resources
- 11-2e Inflation-Induced Tax Distortions
- 11-2f Confusion and Inconvenience
- 11-2g A Special Cost of Unexpected Inflation: Arbitrary Redistributions of Wealth
- 11-2h Inflation Is Bad, but Deflation May Be Worse
- Case Study: Money Growth, Inflation, and the Bank of Canada
- FYI: Total and Core Inflation and the Bank of Canada’s Inflation Target
- 11-3 Conclusion
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- PART 6 THE MACROECONOMICS OF OPEN ECONOMIES
- CHAPTER 12 Open-Economy Macroeconomics: Basic Concepts
- 12-1 The International Flows of Goods and Capital
- 12-1a The Flow of Goods: Exports, Imports, and Net Exports
- Case Study: The Increasing Openness of the Canadian Economy
- Ask the Experts: Steel and Aluminum Tariffs
- 12-1b The Flow of Financial Resources: Net Capital Outflow
- In the News: Breaking Up the Chain of Production
- 12-1c The Equality of Net Exports and Net Capital Outflow
- FYI: The Current Account Balance
- 12-1d Saving, Investment, and Their Relationship to the International Flows
- 12-1e Summing Up
- Case Study: Saving, Investment, and Net Capital Outflow of Canada
- 12-2 The Prices For International Transactions: Real and Nominal Exchange Rates
- 12-2a Nominal Exchange Rates
- 12-2b Real Exchange Rates
- FYI: The Value of the Canadian Dollar
- FYI: The Euro
- 12-3 A First Theory of Exchange-Rate Determination: Purchasing-Power Parity
- 12-3a The Basic Logic of Purchasing-Power Parity
- 12-3b Implications of Purchasing-Power Parity
- Case Study: The Nominal Exchange Rate during a Hyperinflation
- 12-3c Limitations of Purchasing-Power Parity
- Case Study: The Hamburger Standard
- 12-4 Interest Rate Determination in a Small Open Economy with Perfect Capital Mobility
- 12-4a A Small Open Economy
- 12-4b Perfect Capital Mobility
- 12-4c Limitations to Interest Rate Parity
- 12-5 Conclusion
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- CHAPTER 13 A Macroeconomic Theory of the Small Open Economy
- 13-1 Supply and Demand for Loanable Funds and for Foreign-Currency Exchange
- 13-1a The Market for Loanable Funds
- 13-1b The Market for Foreign-Currency Exchange
- 13-1c Disentangling Supply and Demand in the Market for Foreign-Currency Exchange
- FYI: Purchasing-Power Parity as a Special Case
- 13-2 Equilibrium in the Small Open Economy
- 13-2a Net Capital Outflow: The Link between the Two Markets
- 13-2b Simultaneous Equilibrium in Two Markets
- 13-3 How Policies and Events Affect a Small Open Economy
- 13-3a Increase in World Interest Rates
- FYI: Negative Values of Net Capital Outflow
- 13-3b Government Budget Deficits and Surpluses
- 13-3c Trade Policy
- 13-3d Political Instability and Capital Flight
- In the News: The Open-Economy Trilemma
- 13-3e Currency Manipulation
- 13-4 Conclusion
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- PART 7 SHORT-RUN ECONOMIC FLUCTUATIONS
- CHAPTER 14 Aggregate Demand and Aggregate Supply
- 14-1 Three Key Facts about Economic Fluctuations
- 14-1a Fact 1: Economic Fluctuations Are Irregular and Unpredictable
- 14-1b Fact 2: Most Macroeconomic Quantities Fluctuate Together
- 14-1c Fact 3: As Output Falls, Unemployment Rises
- 14-2 Explaining Short-Run Economic Fluctuations
- 14-2a The Assumptions of Classical Economics
- 14-2b The Reality of Short-Run Fluctuations
- 14-2c The Model of Aggregate Demand and Aggregate Supply
- In the News: The Social Influences of Economic Downturns
- 14-3 The Aggregate-Demand Curve
- 14-3a Why the Aggregate-Demand Curve Slopes Downward
- 14-3b Why the Aggregate-Demand Curve Might Shift
- Case Study: Housing Wealth
- 14-4 The Aggregate-Supply Curve
- 14-4a Why the Aggregate-Supply Curve Is Vertical in the Long Run
- 14-4b Why the Long-Run Aggregate-Supply Curve Might Shift
- 14-4c Using Aggregate Demand and Aggregate Supply to Depict Long-Run Growth and Inflation
- 14-4d Why the Aggregate-Supply Curve Slopes Upward in the Short Run
- 14-4e Why the Short-Run Aggregate-Supply Curve Might Shift
- 14-5 Two Causes of Economic Fluctuations
- 14-5a The Effects of a Shift in Aggregate Demand
- FYI: Monetary Neutrality Revisited
- Case Study: Big Shifts in Aggregate Demand: Two Depressions and World War II
- Case Study: The Recession of 2008–09
- 14-5b The Effects of a Shift in Aggregate Supply
- FYI: The Origins of Aggregate Demand and Aggregate Supply
- Case Study: Oil and the Economy
- 14-6 Conclusion
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- CHAPTER 15 The Influence of Monetary Policy on Aggregate Demand
- 15-1 How Monetary Policy Influences Aggregate Demand
- 15-1a The Theory of Liquidity Preference
- 15-1b The Downward Slope of the Aggregate-Demand Curve
- 15-1c Changes in the Money Supply
- 15-1d Open-Economy Considerations
- FYI: The Zero Lower Bound
- Case Study: Why Central Banks Watch the Stock Market (and Vice Versa)
- 15-2 Using Monetary Policy to Stabilize the Economy
- 15-2a The Case for Active Monetary Stabilization Policy
- 15-2b The Case against Active Monetary Stabilization Policy
- 15-2c The Flexible Exchange Rate as a Stabilizer
- Case Study: The Monetary Policy Response to the Recession of 2007–09
- 15-3 A Quick Summary
- FYI: Interest Rates in the Long Run and the Short Run
- 15-4 Conclusion
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- CHAPTER 16 The Influence of Fiscal Policy on Aggregate Demand
- 16-1 How Fiscal Policy Influences Aggregate Demand
- 16-1a Changes in Government Purchases
- 16-1b The Multiplier Effect
- 16-1c A Formula for the Spending Multiplier
- 16-1d Other Applications of the Multiplier Effect
- 16-1e The Crowding-Out Effect on Investment
- 16-1f Open-Economy Considerations
- 16-1g Changes in Taxes
- FYI: How Fiscal Policy Might Affect Aggregate Supply
- 16-2 Using Fiscal Policy to Stabilize the Economy
- 16-2a The Case for Active Fiscal Stabilization Policy
- 16-2b The Case against Active Fiscal Stabilization Policy
- FYI: How Large Is the Influence of Fiscal Policy on Aggregate Demand?
- 16-2c Automatic Stabilizers
- Case Study: The Fiscal Policy Recession of 2007–09
- 16-3 A Quick Summary
- 16-4 Conclusion
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- CHAPTER 17 The Short-Run Tradeoff between Inflation and Unemployment
- 17-1 The Phillips Curve
- 17-1a Origins of the Phillips Curve
- 17-1b Aggregate Demand, Aggregate Supply, and the Phillips Curve
- 17-2 Shifts in the Phillips Curve: The Role of Expectations
- 17-2a The Long-Run Phillips Curve
- 17-2b The Meaning of “Natural”
- 17-2c Reconciling Theory and Evidence
- 17-2d The Short-Run Phillips Curve
- 17-2e The Natural Experiment for the Natural-Rate Hypothesis
- 17-3 Shifts in the Phillips Curve: the Role of Supply Shocks
- 17-4 The Cost of Reducing Inflation
- 17-4a The Sacrifice Ratio
- 17-4b Rational Expectations and the Possibility of Costless Disinflation
- FYI: Measuring Expectations of Inflation
- 17-4c Disinflation in the 1980s
- 17-4d The Zero-Inflation Target
- In the News: How to Keep Expected Inflation Low
- 17-4e Anchored Expectations
- 17-4f The 2008–09 Recession
- 17-5 Looking Ahead
- 17-6 Conclusion
- Summary
- Key Concepts
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- PART 8 FINAL THOUGHTS
- CHAPTER 18 Five Debates over Macroeconomic Policy
- 18-1 Should Monetary and Fiscal Policymakers Try to Stabilize the Economy?
- 18-1a Pro: Policymakers Should Try to Stabilize the Economy
- 18-1b Con: Policymakers Should Not Try to Stabilize the Economy
- 18-2 Should Monetary Policy Be Made by an Independent Central Bank?
- 18-2a Pro: Monetary Policy Should Be Made by an Independent Central Bank
- 18-2b Con: Monetary Policy Should Not Be Made by an Independent Central Bank
- 18-3 Should the Central Bank Aim for Zero Inflation?
- 18-3a Pro: The Central Bank Should Aim for Zero Inflation
- 18-3b Con: The Central Bank Should Not Aim for Zero Inflation
- FYI: Price-Level Targeting
- 18-4 Should Governments Balance Their Budgets?
- 18-4a Pro: Governments Should Balance Their Budgets
- 18-4b Con: Governments Should Not Balance Their Budgets
- FYI: Progress on Debt Reduction?
- 18-5 Should the Tax Laws Be Reformed to Encourage Saving?
- 18-5a Pro: The Tax Laws Should Be Reformed to Encourage Saving
- 18-5b Con: The Tax Laws Should Not Be Reformed to Encourage Saving
- 18-6 Conclusion
- Summary
- Questions for Review
- Quick Check Multiple Choice
- Problems and Applications
- Glossary
- Index
Solution Manuals For Principles of Macroeconomics, 8th Canadian Edition N. Gregory Mankiw
$30.00
ISBN-10: 0176872833
ISBN-13: 9780176872830
Related products
Economics
Solution Manuals for Microeconomics: Theory and Applications, 12th Edition Edgar K. Browning
Wiley ISBN: 978-1-118-75887-8 September 2014 576 Pages
Publish Date: Nov 29, 2017 Web Version Last Updated: Feb 11, 2020 Hardcover: ISBN-10: 1-947172-44-1 ISBN-13: 978-1-947172-44-9 Digital: ISBN-10: 1-947172-45-X ISBN-13: 978-1-947172-45-6
Test Bank for Macroeconomics Tenth Edition N. Gregory Mankiw Macmillan Learning E-book ISBN:9781319106058 Sapling Plus ISBN:9781319106072 Loose-Leaf ISBN:9781319106010 Hardcover ISBN:9781319105990
McGraw Hill ISBN10: 1260243060 ISBN13: 9781260243062 Copyright: 2021 Environmental Economics is an introduction to the basic principles of environmental economics as they have been developed in the past and as they continue to evolve. It is about the way human decisions affect the quality of the environment, how human values and institutions shape our demands for improvement in the quality of that environment, and, most especially, about how to design effective public policies to bring about these improvements.
Macmillan Learning Test Bank for Loose-leaf Version for Macroeconomics: Canadian Edition E-book ISBN:9781319259297 Sapling ISBN:9781319259358 Loose-Leaf ISBN:9781319115593