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 663 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

How Banks Create Money

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

• Utilize the money multiplier formulate to determine how banks create money
• Analyze and create T-account balance ...
  Science and Technology OpenStaxCollege 974 2014-12-29 02:28:34

Command-and-Control Regulation

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

• Explain command-and-control regulation
• Evaluate the effectiveness of command-and-control regulation

Measuring the Size of the Economy: Gross Domestic Product

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

• Identify the components of GDP on the demand side and on the supply side
• Evaluate how gross domestic product ...
  Science and Technology OpenStaxCollege 1723 2014-12-29 02:28:29

Tracking Real GDP over Time

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

• Explain recessions, depressions, peaks, and troughs
• Evaluate the importance of tracking real GDP over time
• Analyze the impact of economic ...
  Science and Technology OpenStaxCollege 864 2014-12-29 02:28:26

Elasticity in Areas Other Than Price

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

• Calculate the income elasticity of demand and the cross-price elasticity of demand
• Calculate the elasticity in ...
  Science and Technology OpenStaxCollege 895 2014-12-29 02:28:23

How a Profit-Maximizing Monopoly Chooses Output and Price

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

• Explain the perceived demand curve for a perfect competitor and a monopoly
• Analyze a demand curve ...
  Science and Technology OpenStaxCollege 1855 2014-12-29 02:28:23

Introduction to International Trade

International Trade and Its Effects on Jobs, Wages, and Working Conditions

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

• Discuss how international trade influences the job market
• Analyze the opportunity cost of protectionism
• Explain how ...
  Science and Technology OpenStaxCollege 858 2014-12-29 02:28:15

The Question of a Balanced Budget

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

• Understand the arguments for and against requiring the U.S. federal budget to be balanced
• Consider the ...
  Science and Technology OpenStaxCollege 839 2014-12-29 02:28:14

Using Fiscal Policy to Fight Recession, Unemployment, and Inflation

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

• Explain how expansionary fiscal policy can shift aggregate demand and influence the economy
• Explain how contractionary ...
  Science and Technology OpenStaxCollege 1024 2014-12-29 02:28:14