Solution Manual for Economics 7th by Hubbard

PART I: INTRODUCTION

1. Economics: Foundations and Models

Appendix: Using Graphs and Formulas

2. Trade-offs, Comparative Advantage, and the Market System

3. Where Prices Come From: The Interaction of Demand and Supply

4. Economic Efficiency, Government Price Setting, and Taxes

Appendix: Quantitative Demand and Supply Analysis

 

PART II: MARKETS IN ACTION: POLICY AND APPLICATIONS

5. Externalities, Environmental Policy, and Public Goods

6. Elasticity: The Responsiveness of Demand and Supply

7. The Economics of Health Care

 

PART III: FIRMS IN THE DOMESTIC AND INTERNATIONAL ECONOMIES

8. Firms, the Stock Market, and Corporate Governance

Appendix: Tools to Analyze Firms’ Financial Information

9. Comparative Advantage and the Gains from International Trade

 

PART IV: MICROECONOMIC FOUNDATIONS: CONSUMERS AND FIRMS

10. Consumer Choice and Behavioral Economics

Appendix: Using Indifference Curves and Budget Lines to Understand Consumer Behavior

11. Technology, Production, and Costs

Appendix: Using Isoquants and Isocost Lines to Understand Production and Cost

 

PART V: MARKET STRUCTURE AND FIRM STRATEGY

12. Firms in Perfectly Competitive Markets

13. Monopolistic Competition: The Competitive Model in a More Realistic Setting

14. Oligopoly: Firms in Less Competitive Markets

15. Monopoly and Antitrust Policy

16. Pricing Strategy

 

PART VI: LABOR MARKETS, PUBLIC CHOICE, AND THE DISTRIBUTION OF INCOME

17. The Markets for Labor and Other Factors of Production

18. Public Choice, Taxes, and the Distribution of Income

 

PART VII: MACROECONOMIC FOUNDATIONS AND LONG-RUN GROWTH

19. GDP: Measuring Total Production and Income

20. Unemployment and Inflation

21. Economic Growth, the Financial System, and Business Cycles

22. Long-Run Economic Growth: Sources and Policies

 

PART VIII: SHORT-RUN FLUCTUATIONS

23. Aggregate Expenditure and Output in the Short Run

Appendix: The Algebra of Macroeconomic Equilibrium

24. Aggregate Demand and Aggregate Supply Analysis

Appendix: Macroeconomic Schools of Thought

 

PART VIIII: MONETARY AND FISCAL POLICY

25. Money, Banks, and the Federal Reserve System

26. Monetary Policy

27. Fiscal Policy

Appendix: A Closer Look at the Multiplier

28. Inflation, Unemployment, and Federal Reserve Policy

 

PART X: THE INTERNATIONAL ECONOMY

29. Macroeconomics in an Open Economy

30. The International Financial System

 

Appendix: The Gold Standard and the Bretton Woods System