Aggregate Demand and
START UP: THE GREAT WARNING
The rst warning came from the Harvard Economic Society, an association of Harvard economics professors, early in
1929. The society predicted in its weekly newsletter that the se
Chapter 5 Elasticity: A Measure of Response
Start Up: Raise Fares? Lower Fares? Whats a Public
Transit Manager To Do?
Imagine that you are the manager of the public transportation system for a large metropolitan
area. Operating costs for the system have s
The Nature and Creation of
START UP: HOW MANY MACKS DOES IT COST?
Larry Levine helped a client prepare divorce papers a few years ago. He was paid in mackerel.
Its the coin of the realm, his client, Mark Bailey told the Wall Street Journ
START UP: HOW IMPORTANT IS ECONOMIC
How important is economic growth? The best way to answer that question is to imagine life without growthto
imagine that we did not have the gains growth brings.
For starters, divide y
Macroeconomics: The Big
START UP: FINANCIAL CRISIS BATTERS ECONOMY
The U.S. economy seemed to be doing well overall after the recession of 2001. Growth had been fairly rapid, unemployment had stayed low, and ination seemed to be under
CH APTE R
Competitive Markets for
Goods and Services
START UP: LIFE ON THE FARM
They produce a commodity that is essentialto our daily lives, one for which the demand is virtuallyassured.And
yet manyeven as farm prices are reaching record highsseem to l
Measuring Total Output and
START UP: THE LOCKUP
It is early morning when a half-dozen senior ocials enter the room at the Commerce Department in Washington.
Once inside, they will have no communication with the outside world until they
Government and Fiscal
START UP: A MASSIVE STIMULUS
Shaken by the severity of the recession that began in December 2007, Congress passed a huge $787 billion stimulus package in February 2009. President Obama described the measure as only