Principles of Economics Textbook & Test Bank

Principles of Economics by OpenStax plus MCQ, Essay Questions & Key Terms Principles of Economics covers scope and sequence requirements for a two-semester introductory economics course. The authors take a balanced approach to micro- and macroeconomics, to both Keynesian and classical views, and to the theory and application of economics concepts. The text also includes many current examples, which are handled in a politically equitable way. * Complete Textbook by OpenStax * Multiple Choices Questions (MCQ) * Essay Questions Flash Cards * Key-Terms Flash Cards Powered by QuizOver.com the leading online quiz creator https://www.quizover.com 1. Welcome to Economics! 1.1. What Is Economics, and Why Is It Important? 1.2. Microeconomics and Macroeconomics 1.3. How Economists Use Theories and Models to Understand Economic Issues 1.4. How Economies Can Be Organized: An Overview of Economic Systems 2. Choice in a World of Scarcity 2.1. How Individuals Make Choices Based on Their Budget Constraint 2.2. The Production Possibilities Frontier and Social Choices 2.3. Confronting Objections to the Economic Approach 3. Demand and Supply 3.1. Demand, Supply, and Equilibrium in Markets for Goods and Services 3.2. Shifts in Demand and Supply for Goods and Services 3.3. Changes in Equilibrium Price and Quantity: The Four-Step Process 3.4. Price Ceilings and Price Floors 3.5. Demand, Supply, and Efficiency 4. Labor and Financial Markets 4.1. Demand and Supply at Work in Labor Markets 4.2. Demand and Supply in Financial Markets 4.3. The Market System as an Efficient Mechanism for Information 5. Elasticity 5.1. Price Elasticity of Demand and Price Elasticity of Supply 5.2. Polar Cases of Elasticity and Constant Elasticity 5.3. Elasticity and Pricing 5.4. Elasticity in Areas Other Than Price 6. Consumer Choices 6.1. Consumption Choices 6.2. How Changes in Income and Prices Affect Consumption Choices 6.3. Labor-Leisure Choices 6.4. Intertemporal Choices in Financial Capital Markets 7. Cost and Industry Structure 7.1. Explicit and Implicit Costs, and Accounting and Economic Profit 7.2. The Structure of Costs in the Short Run 7.3. The Structure of Costs in the Long Run 8. Perfect Competition 8.1. Perfect Competition and Why It Matters 8.2. How Perfectly Competitive Firms Make Output Decisions 8.3. Entry and Exit Decisions in the Long Run 8.4. Efficiency in Perfectly Competitive Markets 9. Monopoly 9.1. How Monopolies Form: Barriers to Entry 9.2. How a Profit-Maximizing Monopoly Chooses Output and Price 10. Monopolistic Competition and Oligopoly 10.1. Monopolistic Competition 10.2. Oligopoly 11. Monopoly and Antitrust Policy 11.1. Corporate Mergers 11.2. Regulating Anticompetitive Behavior 11.3. Regulating Natural Monopolies 11.4. The Great Deregulation Experiment 12. Environmental Protection and Negative Externalities 12.1. The Economics of Pollution 12.2. Command-and-Control Regulation 12.3. Market-Oriented Environmental Tools 12.4. The Benefits and Costs of U.S. Environmental Laws 12.5. International Environmental Issues 12.6. The Tradeoff between Economic Output and Environmental Protection 13. Positive Externalities and Public Goods 14. Poverty and Economic Inequality 15. Issues in Labor Markets: Unions, Discrimination, Immigration 16. Information, Risk, and Insurance 17. Financial Markets 18. Public Economy 19. The Macroeconomic Perspective 20. Economic Growth 21. Unemployment 22. Inflation 23. The International Trade and Capital Flows 24. The Aggregate Demand/Aggregate Supply Model 25. The Keynesian Perspective 26. The Neoclassical Perspective 27. Money and Banking 28. Monetary Policy and Bank Regulation 29. Exchange Rates and International Capital Flows 30. Government Budgets and Fiscal Policy 31. The Impacts of Government Borrowing 32. Macroeconomic Policy Around the World 33. International Trade 34. Globalization and Protectionism