How Individuals Make Choices Based on Their Budget Constraint

By the end of this section, you will be able to:

• Calculate and graph budgets constraints
• Explain opportunity sets and opportunity costs
• Evaluate the law of diminishing ...
  Science and Technology OpenStaxCollege 1822 2014-12-29 02:29:41

What Happens When a Country Has an Absolute Advantage in All Goods

By the end of this section, you will be able to:

• Show the relationship between production costs and comparative advantage
• Identify situations of mutually beneficial trade
• Identify ...
  Science and Technology OpenStaxCollege 2851 2014-12-29 02:29:39

Fiscal Policy and the Trade Balance

By the end of this section, you will be able to:

• Discuss twin deficits as they related to budget and trade deficit
• Explain the relationship between budget ...
  Science and Technology OpenStaxCollege 1477 2014-12-29 02:29:36

How Changes in the Cost of Living are Measured

By the end of this section, you will be able to:

• Use the Consumer Price Index (CPI) to calculate U.S. inflation rates
• Identify several ways the Bureau ...
  Science and Technology OpenStaxCollege 1458 2014-12-29 02:29:35

The Problem of Imperfect Information and Asymmetric Information

By the end of this section, you will be able to:

• Analyze the impact of both imperfect information and asymmetric information
• Evaluate the role of advertisements in creating imperfect information
• Identify ...
  Science and Technology OpenStaxCollege 1326 2014-12-29 02:29:35

The Relatively Recent Arrival of Economic Growth

By the end of this section, you will be able to:

• Explain the conditions that have allowed for modern economic growth in the last two centuries
• Analyze the influence of ...
  Science and Technology OpenStaxCollege 1638 2014-12-29 02:29:35

How the Unemployment Rate is Defined and Computed

By the end of this section, you will be able to:

• Calculate the labor force percentage and the unemployment rate
• Explain hidden unemployment and what it means ...
  Science and Technology OpenStaxCollege 1560 2014-12-29 02:29:34

Introduction to the Impacts of Government Borrowing

How Trade Policy Is Enacted: Globally, Regionally, and Nationally

By the end of this section, you will be able to:

• Explain the origin and role of the World Trade Organization (WTO) and General Agreement on Tariffs ...
  Science and Technology OpenStaxCollege 1497 2014-12-29 02:29:30

Government Spending

By the end of this section, you will be able to:

• Identify U.S. budget deficit and surplus trends over the past five decades
• Explain the differences between ...
  Science and Technology OpenStaxCollege 1637 2014-12-29 02:29:29

International Environmental Issues

By the end of this section, you will be able to:

• Explain biodiversity
• Analyze the partnership of high-income and low-income countries in efforts to address international externalities
...
Science and Technology OpenStaxCollege 1866 2014-12-29 02:29:24

The Economics of Pollution

By the end of this section, you will be able to:

• Explain and give examples of positive and negative externalities
• Identify equilibrium price and quantity
• Evaluate how ...
  Science and Technology OpenStaxCollege 1596 2014-12-29 02:29:17