Principles of Macroeconomics 2e covers the scope and sequence of most introductory …
Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters. Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition. The first edition of Principles of Macroeconomics by OpenStax is available in web view here.
By the end of this section, you will be able to: Discuss …
By the end of this section, you will be able to:
Discuss how international trade influences the job market Analyze the opportunity cost of protectionism Explain how international trade impacts wages, labor standards, and working conditions
By the end of this section, you will be able to: Explain …
By the end of this section, you will be able to:
Explain how inflation can cause redistributions of purchasing power Identify ways inflation can blur the perception of supply and demand Explain the economic benefits and challenges of inflation
By the end of this section, you will be able to: Predict …
By the end of this section, you will be able to:
Predict shifts in the demand and supply curves of the labor market Explain the impact of new technology on the demand and supply curves of the labor market Explain price floors in the labor market such as minimum wage or a living wage
By the end of this section, you will be able to: Analyze …
By the end of this section, you will be able to:
Analyze cyclical unemployment Explain the relationship between sticky wages and employment using various economic arguments Apply supply and demand models to unemployment and wages
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