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| Note: Each chapter concludes with a Chapter Summary and Questions and Problems | |
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| Exploring Economics | |
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| What is Economics About? | |
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| Microeconomics versus | |
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| Macroeconomics Economic | |
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| Theories and Reality | |
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| Equity vs. Efficiency | |
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| Key Ideas of Economics Choice and Scarcity | |
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| Force Tradeoffs Opportunity Costs | |
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| Dominate Our Lives Rational Behavior Requires | |
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| Thinking at the Margin People | |
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| Follow Incentives | |
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| Markets are Efficient Government Must Deal with Market Failure Information is Important Specialization and Trade | |
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| Improve Our Lives Productivity | |
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| Determines Our Standard of Living Government can Smooth the Fluctuations in the Overall Economy | |
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| Appendix: Working with Graphs and Formulas | |
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| Production, Economic Growth and Trade Basic Economic Questions and Production | |
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| Basic Economic Questions Resources | |
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| Production and Efficiency | |
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| Production Possibilities and Economic Growth Specialization | |
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| Comparative Advantage, and Trade Absolute and Comparative Advantage | |
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| The Gains from Trade Limits on Trade and Globalization | |
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| Is There a Moral Dimension to Economic Growth? | |
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| Supply and Demand Markets | |
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| The Price System Demand | |
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| The Relationship Between Quantity Demanded and Price | |
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| The Law of Demand | |
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| The Demand Curve Market | |
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| Demand Curves | |
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| Determinants of Demand Changes in Demand Versus | |
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| Changes in Quantity Demanded Supply | |
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| The Relationship Between Quantity Supplied and Price | |
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| The Law of Supply | |
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| The Supply Curve | |
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| Market Supply Curves | |
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| Determinants of Supply Changes in Supply Versus | |
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| Changes in Quantity | |
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| Supplied Market Equilibrium Moving to a New Equilibrium | |
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| Changes in Supply and Demand Putting Supply and Demand to Work | |
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| Excess Grape Supply and Two-Buck Chuck | |
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| Trek Bicycles and Lance Armstrong | |
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| Market Efficiency, Market Failure, and Government | |
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| Intervention Markets and Efficiency Efficient Market Requirements | |
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| The Discipline of Markets Consumer and Producer Surplus | |
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| A Tool for Measuring Economic Efficiency | |
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| Market Failures Accurate Information is Not Widely Available | |
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| Asymmetric Information Problems with Property Rights | |
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| Contract Enforcement Is Problematical | |
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| There Are Significant | |
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| External Costs or Benefits | |
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| Externalities Competitive Markets do Not Prevail | |
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| Monopoly Power Government Controlled Prices | |
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| Price Ceilings | |
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| Price Floors Taxes and Deadweight Loss | |
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| Who Is Watching Your Money? | |
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| Bank Regulation and Information Problems | |
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| Elasticity | |
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| Elasticity of Demand Elasticity as an Absolute Value | |
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| Measuring Elasticity with Percentages | |
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| Elastic and Inelastic Demand | |
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| Determinants of Elasticity Computing | |
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| Price Elasticities | |
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| Elasticity and Total Revenue | |
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| Other Elasticities of Demand Elasticity of Supply Time and Price Elasticity of Supply Taxes and Elasticity | |
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| Elasticity of Demand and Tax Burdens | |
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| Elasticity of Supply and Tax Burdens | |
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| Hubbert’s Peak: Are We Running Out of Oil? | |
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| Consumer Choice and Demand Marginal Utility Analysis | |
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| The Budget Line | |
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| Preferences and Utility Using Marginal Utility Analysis | |
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| Deriving Demand Curves | |
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| Consumer Surplus Marginal Utility Analysis | |
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| A Critique Tipping and Consumer Behavior | |
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| Irrational Consumers: Investing, Gambling, and Saving | |
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| Appendix: Indifference Curve Analysis | |
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| Indifference Curves and Consumer Preferences | |
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| Optimal Consumer | |
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| Choice Using Indifference Curves | |
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| Using Indifference Curves: Economic Analysis of Terrorism | |
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| Auto Advertisements: Utility versus Indifference Curves | |
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| Production and C | |