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 1411 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 1447 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 1375 2014-12-29 02:28:57

The Use of Mathematics in Principles of Economics

Defining Money by Its Functions

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

• Explain the various functions of money
• Contrast commodity money and fiat money

Introduction to Globalization and Protectionism

The Difference between Level of Trade and the Trade Balance

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

• Identify three factors that influence a country's level of trade
• Differentiate between balance of trade and level of trade

How Government Borrowing Affects Private Saving

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

• Apply Ricardian equivalence to evaluate how government borrowing affects private saving
• Interpret a graphic representation of ...
  Science and Technology OpenStaxCollege 1310 2014-12-29 02:28:38

Adjusting Nominal Values to Real Values

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

• Contrast nominal GDP and real GDP
• Explain GDP deflator
• Calculate real GDP based on nominal GDP values

The Tradeoffs of Trade Policy

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

• Asses the complexity of international trade
• Discuss why a market-oriented economy is so affected by international ...
  Science and Technology OpenStaxCollege 1030 2014-12-29 02:28:36

Microeconomics and Macroeconomics

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

• Describe microeconomics
• Describe macroeconomics
• Contrast monetary policy and fiscal policy