Description: 1. What This Book Is All About. I. THE ECONOMIC BACKGROUND. 2. The Evolution of Capitalism. 3. The Great Economists. 4. A Birds-Eye View of the Economy. 5. The Trend of Things. 6. America in the World Economy. II. SOME BASIC ECONOMICS. 7. Economic Science. 8. Supply and Demand. Demand. 9. Why Economists Disagree. 10. An Economist's Kit of Tools. III. MACROECONOMICS. The Macroeconomy. 11. GNP- The Nation's Output. 12. Buying the National Product. 13. The Growth of Supply. 14. The Growth of Demand. The Sectors in Action. 15. Household Demand. 16. Business Investment. 17. Public Spending and Deficits. 18. Aggregate Demand and Supply. Money. 19. Money and Banking. 20. The Federal Reserve. 21. Money and the Macro System. 22. The Debate about Monetary Policy. The Macro Challenges. 23. Inflation. 24. Prospects for Long-Term Growth. IV. MICROECONOMICS. The Market System. 25. Prices and Allocation. 26. Market Dynamics. 27. Where the Market Fails. The Firm and the Government. 28. Operating a Competitive Firm: I. Economics of the Firm. 29. Operating a Competitive Firm: II. The Cost Problem. 30. Operating a Big Business. 31. Taxing and Spending. Microeconomic Challenges. 32. The Control of Market Power. 33. The Distribution of Income in Theory. 34. How Incomes Are Distributed in Fact. 35. Unemployment and Poverty. V. THE REST OF THE WORLD. 36. The Gains and Strains of Trade. 37. Buying and Selling Abroad. 38. Where Are We Headed?

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