Test Bank for CoreMicroeconomics, 2nd Edition: Stone

Product details:

• ISBN-10 ‏ : ‎ 1429240008
• ISBN-13 ‏ : ‎ 978-1429240000
• Author: Stone

The Core Text is a traditional textbook focusing on the core topics in economics. It includes the usual textbook apparatus, including key terms and definitions. It also includes a set of innovative end-of-chapter questions and problems, many of which have been drawn from today’s headlines and the business press.

The CourseTutor is designed for interactivity. Students must work through the CourseTutor with a pencil in hand, reading through tutorials, solving problems, and drawing graphs. Short quizzes help students assess their progress and suggest additional work to help them master concepts.

Table contents:

1. 1—The capitalist revolution
   1. Introduction
   2. 1.1 Income inequality 
   3. 1.2 Measuring income and living standards
   4. 1.3 History’s hockey stick: Growth in income 
   5. 1.4 The permanent technological revolution 
   6. 1.5 The economy and the environment 
   7. 1.6 Capitalism defined: Private property, markets, and firms 
   8. 1.7 Capitalism as an economic system 
   9. 1.8 The gains from specialization 
   10. 1.9 Capitalism, causation and history’s hockey stick 
   11. 1.10 Varieties of capitalism: Institutions, government, and the economy 
   12. 1.11 Economics and the economy
   13. 1.12 Conclusion
   14. 1.13 References
2. 2—Technology, population, and growth
   1. Introduction
   2. 2.1 Economists, historians, and the Industrial Revolution 
   3. 2.2 Economic models: How to see more by looking at less
   4. 2.3 Basic concepts: Prices, costs, and innovation rents 
   5. 2.4 Modelling a dynamic economy: Technology and costs 
   6. 2.5 Modelling a dynamic economy: Innovation and profit 
   7. 2.6 The British Industrial Revolution and incentives for new technologies 
   8. 2.7 Malthusian economics: Diminishing average product of labour
   9. 2.8 Malthusian economics: Population grows when living standards rise 
   10. 2.9 The Malthusian trap and long-term economic stagnation 
   11. 2.10 Escaping from Malthusian stagnation 
   12. 2.11 Conclusion
   13. 2.12 References
3. 3—Scarcity, work, and choice
   1. Introduction
   2. 3.1 Labour and production
   3. 3.2 Preferences
   4. 3.3 Opportunity costs
   5. 3.4 The feasible set
   6. 3.5 Decision making and scarcity
   7. 3.6 Hours of work and economic growth 
   8. 3.7 Income and substitution effects on hours of work and free time
   9. 3.8 Is this a good model?
   10. 3.9 Explaining our working hours: Changes over time 
   11. 3.10 Explaining our working hours: Differences between countries 
   12. 3.11 Conclusion
   13. 3.12 References
4. 4—Social interactions
   1. Introduction
   2. 4.1 Social interactions: Game theory
   3. 4.2 Equilibrium in the invisible hand game
   4. 4.3 The prisoners’ dilemma 
   5. 4.4 Social preferences: Altruism 
   6. 4.5 Altruistic preferences in the prisoners’ dilemma 
   7. 4.6 Public goods, free riding, and repeated interaction 
   8. 4.7 Public good contributions and peer punishment
   9. 4.8 Behavioural experiments in the lab and in the field 
   10. 4.9 Cooperation, negotiation, conflicts of interest, and social norms 
   11. 4.10 Dividing a pie (or leaving it on the table) 
   12. 4.11 Fair farmers, self-interested students? 
   13. 4.12 Competition in the ultimatum game
   14. 4.13 Social interactions: Conflicts in the choice among Nash equilibria 
   15. 4.14 Conclusion
   16. 4.15 References
5. 5—Property and power: Mutual gains and conflict
   1. Introduction
   2. 5.1 Institutions and power 
   3. 5.2 Evaluating institutions and outcomes: The Pareto criterion 
   4. 5.3 Evaluating institutions and outcomes: Fairness 
   5. 5.4 A model of choice and conflict 
   6. 5.5 Technically feasible allocations
   7. 5.6 Allocations imposed by force 
   8. 5.7 Economically feasible allocations and the surplus 
   9. 5.8 The Pareto efficiency curve and the distribution of the surplus 
   10. 5.9 Politics: Sharing the surplus 
   11. 5.10 Bargaining to a Pareto-efficient sharing of the surplus
   12. 5.11 Angela and Bruno: The moral of the story 
   13. 5.12 Measuring economic inequality 
   14. 5.13 A policy to redistribute the surplus and raise efficiency 
   15. 5.14 Conclusion
   16. 5.15 References
6. 6—The firm: Owners, managers, and employees
   1. Introduction
   2. 6.1 Firms, markets, and the division of labour
   3. 6.2 Other people’s money: The separation of ownership and control
   4. 6.3 Other people’s labour
   5. 6.4 Employment rents 
   6. 6.5 Determinants of the employment rent 
   7. 6.6 Work and wages: The labour discipline model 
   8. 6.7 Wages, effort, and profits in the labour discipline model 
   9. 6.8 Putting the model to work: Owners, employees, and the economy 
   10. 6.9 Another kind of business organization 
   11. 6.10 Principals and agents: Interactions under incomplete contracts
   12. 6.11 Conclusion
   13. 6.12 References
7. 7—The firm and its customers
   1. Introduction
   2. 7.1 Breakfast cereal: Choosing a price
   3. 7.2 Economies of scale and the cost advantages of large-scale production 
   4. 7.3 Production: The cost function for Beautiful Cars
   5. 7.4 Demand and isoprofit curves: Beautiful Cars
   6. 7.5 Setting price and quantity to maximize profit
   7. 7.6 Look at profit maximization as marginal revenue and marginal cost
   8. 7.7 Gains from trade
   9. 7.8 The elasticity of demand
   10. 7.9 Using demand elasticities in government policy 
   11. 7.10 Price-setting, competition, and market power 
   12. 7.11 Product selection, innovation, and advertising 
   13. 7.12 Prices, costs, and market failure
   14. 7.13 Conclusion
   15. 7.14 References
8. 8—Supply and demand: Price-taking and competitive markets
   1. Introduction
   2. 8.1 Buying and selling: Demand and supply
   3. 8.2 The market and the equilibrium price
   4. 8.3 Price-taking firms
   5. 8.4 Market supply and equilibrium
   6. 8.5 Competitive equilibrium: Gains from trade, allocation, and distribution
   7. 8.6 Changes in supply and demand 
   8. 8.7 The effects of taxes 
   9. 8.8 The model of perfect competition
   10. 8.9 Looking for competitive equilibria
   11. 8.10 Price-setting and price-taking firms 
   12. 8.11 Conclusion
   13. 8.12 References
9. 9—The labour market: Wages, profits, and unemployment
   1. Introduction
   2. 9.1 The wage-setting curve, the price-setting curve, and the labour market
   3. 9.2 Measuring the economy: Employment and unemployment 
   4. 9.3 The wage-setting curve: Employment and real wages
   5. 9.4. The firm’s hiring decision
   6. 9.5. The price-setting curve: Wages and profits in the whole economy
   7. 9.6 Wages, profits, and unemployment in the whole economy
   8. 9.7 How changes in demand for goods and services affect unemployment 
   9. 9.8. Labour market equilibrium and the distribution of income 
   10. 9.9. Labour supply, labour demand, and bargaining power 
   11. 9.10. Labour unions: Bargained wages and the union voice effect 
   12. 9.11 Labour market policies to address unemployment and inequality 
   13. 9.12. Looking backward: Baristas and bread markets
   14. 9.13 Conclusion
   15. 9.14 References
10. 10—Banks, money, and the credit market
    1. Introduction
    2. 10.1 Money and wealth
    3. 10.2 Borrowing: Bringing consumption forward in time
    4. 10.3 Impatience and the diminishing marginal returns to consumption
    5. 10.4 Borrowing allows smoothing by bringing consumption to the present
    6. 10.5 Lending and storing: Smoothing and moving consumption to the future
    7. 10.6 Investing: Another way to move consumption to the future 
    8. 10.7 Assets, liabilities, and net worth
    9. 10.8 Banks, money, and the central bank 
    10. 10.9 The central bank, the money market, and interest rates 
    11. 10.10 The business of banking and bank balance sheets
    12. 10.11 The central bank’s policy rate can affect spending 
    13. 10.12 Credit market constraints: A principal–agent problem 
    14. 10.13 Inequality: Lenders, borrowers, and those excluded from credit markets 
    15. 10.14 Conclusion
    16. 10.15 References

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