Understanding economics today /
Gary M. Walton, Frank C. Wykoff.
- 6th ed.
- Boston, Mass. : Irwin/McGraw-Hill, c1998.
- xvi, 496 p. col. ill., col. map ; 24 cm.
Includes bibliographical references and index.
Contents: The Economics of personal and social choice -- Scarcity and the economic problem -- The First law economics -- Shortage, surplus and prices -- Production, profits and marginal analysis -- Competition and monopoly -- Jobs and wages -- Market failure and government failure -- Trade among nations -- National economic problems: Stagnation, inflation, unemployment and competitiveness -- Overview of national economy: Cycles and the circular flow model -- Government fiscal actions and the pace of the economy -- Money,money,money -- The Fed and the money supply -- Why economist disagree -- Inflation and unemployment -- Stagnation -- Issues and stabilization on policy -- The Exchange rate and the balance of payment.