How Well GDP Measures the Well-Being of Society

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

• Discuss how productivity influences the standard of living
• Explain the limitations of GDP as a measure of the standard ...
  Science and Technology OpenStaxCollege 1269 2014-12-29 02:29:15

Comparing GDP among Countries

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

• Explain how GDP can be used to compare the economic welfare of different nations
• Calculate the conversion of GDP ...
  Science and Technology OpenStaxCollege 1510 2014-12-29 02:29:15

Tracking Inflation

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

• Calculate the annual rate of inflation
• Explain and use index numbers and base years when simplifying ...
  Science and Technology OpenStaxCollege 1578 2014-12-29 02:29:15

Introduction to Consumer Choices

Trade Balances and Flows of Financial Capital

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

• Explain the connection between trade balances and flows of financial capital
• Calculate comparative advantage
• Explain balanced trade in terms of ...
  Science and Technology OpenStaxCollege 1450 2014-12-29 02:29:14

Exchange Rate Policies

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

• Differentiate among a floating exchange rate, a soft peg, a hard peg, and a merged currency
...
Science and Technology OpenStaxCollege 1702 2014-12-29 02:29:14

Introduction to Cost and Industry Structure

Introduction to Monopolistic Competition and Oligopoly

How Changes in Income and Prices Affect Consumption Choices

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

• Explain how income, prices, and preferences affect consumer choices
• Contrast the substitution effect and the income ...
  Science and Technology OpenStaxCollege 1485 2014-12-29 02:29:06

Polar Cases of Elasticity and Constant Elasticity

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

• Differentiate between infinite and zero elasticity
• Analyze graphs in order to classify elasticity as constant unitary, ...
  Science and Technology OpenStaxCollege 1537 2014-12-29 02:29:03

Automatic Stabilizers

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

• Describe how discretionary fiscal policy can be used by the federal government to stabilize the economy.
...
Science and Technology OpenStaxCollege 1473 2014-12-29 02:28:57

The Use of Mathematics in Principles of Economics