OpenStaxCollege

The Problem of Imperfect Information and Asymmetric Information

<para>By the end of this section, you will be able to:</para><ul><li>Analyze the impact of both imperfect information and asymmetric information</li><li>Evaluate the role of advertisements in creating imperfect information</li><li>Identify ways to reduce the risk of imperfect information</li><li>Explain how imperfect information can affect price, quantity, and quality</li></ul>

The Relatively Recent Arrival of Economic Growth

<para>By the end of this section, you will be able to:</para><ul><li>Explain the conditions that have allowed for modern economic growth in the last two centuries</li><li>Analyze the influence of public policies on the long-run economic growth of an economy</li></ul>

How the Unemployment Rate is Defined and Computed

<para>By the end of this section, you will be able to:</para> <ul> <li>Calculate the labor force percentage and the unemployment rate</li> <li>Explain hidden unemployment and what it means to be in or out of the labor force</li> <li>Evaluate the collection and interpretation of unemployment data</li> </ul>

Appendix H: Tables

Introduction to the Impacts of Government Borrowing

Introduction to the Aggregate Demand/Aggregate Supply Model

In this chapter, you will learn about: <ul><li>Macroeconomic Perspectives on Demand and Supply</li> <li>Building a Model of Aggregate Demand and Aggregate Supply</li> <li>Shifts in Aggregate Supply</li> <li>Shifts in Aggregate Demand</li> <li>How the AD/AS Model Incorporates Growth, Unemployment, and Inflation</li> <li>Keynes’ Law and Say’s Law in the AD/AS Model</li></ul>

Solving Systems with Gaussian Elimination

In this section, you will:<ul><li>Write the augmented matrix of a system of equations.</li><li>Write the system of equations from an augmented matrix.</li><li>Perform row operations on a matrix.</li><li>Solve a system of linear equations using matrices.</li></ul>

Appendix D: Group and Partner Projects

Confidence Interval (Place of Birth)

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

<para>By the end of this section, you will be able to:</para> <ul> <li>Explain the origin and role of the World Trade Organization (WTO) and General Agreement on Tariffs and Trade (GATT)</li> <li>Discuss the significance and provide examples of regional trading agreements</li> <li>Analyze trade policy at the national level</li> <li>Evaluate long-term trends in barriers to trade</li> </ul>

Income Inequality: Measurement and Causes

By the end of this section, you will be able to:<ul><li>Explain the distribution of income, and analyze the sources of income inequality in a market economy</li><li>Measure income distribution in quintiles</li><li>Calculate and graph a Lorenz curve</li><li>Show income inequality through demand and supply diagrams</li></ul>

Probability Distribution Function (PDF) for a Discrete Random Variable