Principles of Economics (6th edition)

This is an electronic version of the print textbook. Due to electronic rights restrictions, some third - pdf free download
Uploaded by N. Gregory Mankiw

8K downloads 5K Views 69MB Size

Recommend Documents


Principles of Microeconomics, 6th Edition
Firm Behavior and the organization oF industry 13 The Costs of Production 14 Firms in Competitive Markets The - pdf free download

Download Principles of Economics 7th Edition by Mankiw Solutions Manual
Link full download :http://testbankcollection.com/download/principles-of-economics-7th-edition-by-mankiw-solutions-manual/ - pdf free download

Essentials of Statistics for Business and Economics, 6th Edition
CUMULATIVE PROBABILITIES FOR THE STANDARD NORMAL DISTRIBUTION Entries in this table give the area under - pdf free download

Essentials of Economics, 2nd Edition
This page intentionally left blank SECOND EDITION ESSENTIALS OF ECONOMICS Senior Publisher: Catherine - pdf free download

Economics, 10th Edition
ECONOMICS TENTH EDITION MICHAEL PARKIN University of Western Ontario Editor in Chief Donna Battista Senior - pdf free download

Principles of Marketing, 12th Edition
Principles of Marketing, 12th Edition - djvu free download

Principles of Marketing (14th Edition)
5 Specialized Features to Enhance Your Learning 1 New coverage in every chapter of the fourteenth - pdf free download

Systems Architecture, 6th Edition
Systems Architecture, Sixth Edition, is the most comprehensive introduction to information systems hardware and software in business. This new edition remains an indispensable tool for IS students, emphasizing a managerial, broad systems perspective

Idea Transcript


This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable information on pricing, previous editions, changes to current editions, and alternate formats, please visit www.cengage.com/highered to search by ISBN#, author, title, or keyword for materials in your areas of interest.

Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.

Economics Principles of

Sixth Edition

Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.

Principles of Economics, 6E N. Gregory Mankiw Vice President of Editorial, Business: Jack W. Calhoun Editor-in-Chief: Joseph Sabatino Executive Editor: Mike Worls Developmental Editor: Jane Tufts Contributing Editors: Jennifer E. Thomas and Katie Trotta Editorial Assistant: Allyn Bissmeyer Senior Marketing Manager: John Carey Associate Marketing Manager: Betty Jung Senior Content Project Manager: Colleen A. Farmer

© 2012, 2009 South-Western, Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may be reproduced, transmitted, stored, or used in any form or by any means graphic, electronic, or mechanical, including but not limited to photocopying, recording, scanning, digitizing, taping, web distribution, information networks, or information storage and retrieval systems, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the publisher. For product information and technology assistance, contact us at Cengage Learning Customer & Sales Support, 1-800-354-9706 For permission to use material from this text or product, submit all requests online at www.cengage.com/permissions Further permissions questions can be emailed to [email protected]

Media Editor: Sharon Morgan Senior Frontlist Buyer, Manufacturing: Kevin Kluck Senior Marketing Communications Manager: Sarah Greber Production Service: Cadmus Senior Art Director: Michelle Kunkler Cover and Internal Designer: Ke Design Internal Illustrations: Larry Moore

ExamView® is a registered trademark of eInstruction Corp. Windows is a registered trademark of the Microsoft Corporation used herein under license. Macintosh and Power Macintosh are registered trademarks of Apple Computer, Inc. used herein under license. © 2008 Cengage Learning. All Rights Reserved. Library of Congress Control Number: 2010941869 Cengage Learning WebTutorTM is a trademark of Cengage Learning.

Cover Image: © Chalmers Bequest, Hackney Art Gallery, UK / Bridgeman Art Library International; © marc fischer / iStockphoto

ISBN 13: 978-0-538-45305-9 ISBN 10: 0-538-45305-2

Rights Acquisitions Specialist, Photos: John Hill

South-Western Cengage Learning 5191 Natorp Boulevard Mason, OH 45040 USA Cengage Learning products are represented in Canada by Nelson ­Education, Ltd. For your course and learning solutions, visit www.cengage.com Purchase any of our products at your local college store or at our preferred online store www.cengageBrain.com

Printed in the United States of America 1  2  3  4  5  6  7  14  13  12  11

Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.

Economics Principles of

Sixth Edition N. Gregory Mankiw HARVARD UNIVERSITY

Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.

Copyright 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.

To Catherine, Nicholas, and Peter, my other contributions to the next generation

Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.

about the

author

N. Gregory Mankiw is professor of economics at Harvard University. As a student, he studied economics at Princeton University and MIT. As a teacher, he has taught macroeconomics, microeconomics, statistics, and principles of economics. He even spent one summer long ago as a sailing instructor on Long Beach Island. Professor Mankiw is a prolific writer and a regular participant in academic and policy debates. His work has been published in scholarly journals, such as the American Economic Review, Journal of Political Economy, and Quarterly Journal of Economics, and in more popular forums, such as The New York Times and The Wall Street Journal. He is also author of the best-selling intermediate-level textbook Macroeconomics (Worth Publishers). In addition to his teaching, research, and writing, Professor Mankiw has been a research associate of the National Bureau of Economic Research, an adviser to the Congressional Budget Office and the Federal Reserve Banks of Boston and New York, and a member of the ETS test development committee for the Advanced Placement exam in economics. From 2003 to 2005, he served as chairman of the President’s Council of Economic Advisers. Professor Mankiw lives in Wellesley, Massachusetts, with his wife, Deborah, three children, Catherine, Nicholas, and Peter, and their border terrier, Tobin.

vi Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.

brief contents Part

I Introduction

1

Part

1 Ten Principles of Economics 3 2 Thinking Like an Economist 21 3 Interdependence and the Gains from Trade 49

Part

II How Markets Work

Part

63

III Markets and Welfare

Part

133

IV The Economics of the Public Sector

10 Externalities 195 11 Public Goods and Common Resources 12 The Design of the Tax System 233

Part

193

489

135

IX The Real Economy in the Long Run

25 26 27 28

Part

Production and Growth 531 Saving, Investment, and the Financial System The Basic Tools of Finance 577 Unemployment 593

555

X Money and Prices in the Long Run

29 The Monetary System 619 30 Money Growth and Inflation

529

617

643

217

Part

V Firm Behavior and the Organization of Industry 257

13 14 15 16 17

VIII The Data of Macroeconomics

23 Measuring a Nation’s Income 491 24 Measuring the Cost of Living 513

7 Consumers, Producers, and the Efficiency of Markets 8 Application: The Costs of Taxation 155 9 Application: International Trade 171

Part

437

21 The Theory of Consumer Choice 439 22 Frontiers of Microeconomics 467

4 The Market Forces of Supply and Demand 65 5 Elasticity and Its Application 89 6 Supply, Demand, and Government Policies 111

Part

VII Topics for Further Study

The Costs of Production 259 Firms in Competitive Markets 279 Monopoly 299 Monopolistic Competition 329 Oligopoly 349

XI The Macroeconomics of Open Economies

669

31 Open-Economy Macroeconomics: Basic Concepts 671 32 A Macroeconomic Theory of the Open Economy 695

Part

XII Short-Run Economic Fluctuations

717

33 Aggregate Demand and Aggregate Supply 719 34 The Influence of Monetary and Fiscal Policy on Aggregate Demand

757

35 The Short-Run Trade-off between Inflation

Part

VI The Economics of Labor Market

18 The Markets for the Factors of Production 19 Earnings and Discrimination 397 20 Income Inequality and Poverty 415

and Unemployment

785

373

375

Part

XIII Final Thoughts

809

36 Six Debates over Macroeconom...

Smile Life

When life gives you a hundred reasons to cry, show life that you have a thousand reasons to smile

Get in touch

© Copyright 2015 - 2019 ZDOC.TIPS - All rights reserved.