Economics Problem Solver (Problem Solvers Solution Guides)

Economics Problem Solver (Problem Solvers Solution Guides) by Editors of REA. paperback edition. ISBN: 9780878915248.

Each Problem Solver is an insightful and essential study and solution guide chock-full of clear, concise problem-solving gems. All your questions can be found in one convenient source from one of the most trusted names in reference solution guides. More useful, more practical, and more informative, these study aids are the best review books and textbook companions available. Nothing remotely as comprehensive or as helpful exists in their subject anywhere. Perfect for undergraduate and graduate studies. Here in this highly useful reference is the finest overview of economics currently available, with hundreds of economics problems that cover everything from fundamental economic concepts to the capitalist economy and business cycles. Each problem is clearly solved with step-by-step detailed solutions. DETAILS - The PROBLEM SOLVERS are unique - the ultimate in study guides. - They are ideal for helping students cope with the toughest subjects. - They greatly simplify study and learning tasks. - They enable students to come to grips with difficult problems by showing them the way, step-by-step, toward solving problems. As a result, they save hours of frustration and time spent on groping for answers and understanding. - They cover material ranging from the elementary to the advanced in each subject. - They work exceptionally well with any text in its field. - PROBLEM SOLVERS are available in 41 subjects. - Each PROBLEM SOLVER is prepared by supremely knowledgeable experts. - Most are over 1000 pages. - PROBLEM SOLVERS are not meant to be read cover to cover. They offer whatever may be needed at a given time. An excellent index helps to locate specific problems rapidly. TABLE OF CONTENTS Introduction Chapter 1: Fundamental Economic Concepts The Method of Economics Scarcity Resources The Production-Possibilities Curve Resources and Production Short Answer Questions for Review Chapter 2: The Capitalist Economy Essential Characteristics Specialization Use of Money Use of Capital Goods The Circular Flow Model Short Answer Questions for Review Chapter 3: Business Organization The Sole Proprietorship The Partnership The Corporation Short Answer Questions for Review Chapter 4: National Income and Price Indices Purpose Defining Gross National Product Other Accounts Calculating National Product and Income Real vs. Monetary Measurement Limitations Short Answer Questions for Review Chapter 5: Consumption, Savings, and Investment The Consumption and Savings Functions The Marginal Propensity to Consume The Average Propensity to Consume The Investment Function Short Answer Questions for Review Chapter 6: Income Determination: The Simple Multiplier Theory Equilibrium Income Determination Leakage-Injections Approach to Equilibrium Multiplier Analysis Disequilibrium NNP Analysis Short Answer Questions for Review Chapter 7: Fiscal Policy and Thriftiness Budgetary Expenditure Patterns Balancing the Budget The Public Debt Fiscal Policy and Taxation The Paradox of Thrift The Deflationary Gap Stabilizing and Destabilizing Factors Short Answer Questions for Review Chapter 8: Taxation Basic Concepts Rate Structure Incidence Corporate Taxation Tax Subsidies Externalities Short Answer Questions for Review Chapter 9: Business Cycles Definition Measurement Role of Investment The Accelerator Alternative Theories Short Answer Questions for Review Chapter 10: Inflation and Unemployment Inflation, Deflation, and Stagflation Unemployment Inflation vs. Unemployment: The Phillips Curve The Government, Firm and Individual: Fighting Inflation Inflation and Interest Rates The Federal Reserve and the Money Supply Milton Friedman and Monetarism Short Answer Questions for Review Chapter 11: Money Nature and Function Types of Money The Supply of Money The Demand for Money The Value of Money IS-LM Analysis Short Answer Questions for Review Chapter 12: The Banking System Institutions The Balance Sheet Fractional Reserve Banking Multiple Deposit Creation Short Answer Questions for Review Chapter 13: Federal Reserve Banks and Monetary Policy Explanation Function of the Fed The Reserve Requirement Operations by the Fed Short Answer Questions for Review Chapter 14: Supply and Demand Definition The Demand Curve The Law of Demand Demand vs. Quantity Demanded The Supply Curve The Law of Supply Supply vs. Quantity Supplied Market Equilibrium Surplus and Shortage Short Answer Questions for Review Chapter 15: Demand and Utility Theory Utility Utility Maximization Indifference The Budget Line The Demand Curve Consumers Surplus Short Answer Questions for Review Chapter 16: Elasticity of Supply and Demand The Elasticity Concept Cross Elasticities Determinants of Elasticity Measures of Elasticity Demand Elasticity and Revenue Elasticity and Market Equilibrium Short Answer Questions for Review Chapter 17: Analysis of Costs Implicit, Explicit, and Opportunity Costs Total, Average, and Marginal Costs Fixed and Variable Costs Law of Diminishing Returns Short Run vs. Lo