Microeconomics Canadian 1st Edition Karlan Test Bank

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Microeconomics Canadian 1st Edition Karlan Test Bank.

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Karlan/Morduch Microeconomics, Canadian Edition, shows students the power of economics in understanding, analyzing, and solving problems, whether they are huge global problems or problems in their everyday life. Taking a global perspective with Canada as a leading example, the distinguished author team of Dean Karlan and Jonathan Morduch, along with Canadian authors Rafat Alam and Andrew Wong, presents real-life examples and issues that resonate with the student experience, in order to reinforce economic principles. This text is ideal for professors who want to keep their students engaged and who are seeking to deliver core economic principles through a lens of real-life examples, in order to help students become sound economic decision makers.

 

Table of Content:

  1. PART 1 The Power of Economics
  2. Chapter 1 Macroeconomics and Life
  3. Making an Impact with Small Loans
  4. The Basic Insights of Macroeconomics
  5. Scarcity
  6. Performance and Decision Making
  7. Incentives
  8. Efficiency
  9. An Economist’s Problem-Solving Toolbox
  10. Correlation and Causation
  11. Models
  12. Positive and Normative Analysis
  13. Conclusion
  14. Chapter 2 Specialization and Exchange
  15. The Origins of a T-Shirt
  16. Production Possibilities
  17. Drawing the Production Possibilities Frontier
  18. Choosing Among Production Possibilities
  19. Shifting the Production Possibilities Frontier
  20. Absolute and Comparative Advantage
  21. Absolute Advantage
  22. Comparative Advantage
  23. Why Trade?
  24. Specialization
  25. Gains from Trade
  26. Comparative Advantage Over Time
  27. Conclusion
  28. APPENDIX A Math Essentials: Understanding Graphs and Slope
  29. Creating a Graph
  30. Graphs of One Variable
  31. Graphs of Two Variables
  32. Slope
  33. Calculating Slope
  34. The Direction of a Slope
  35. The Steepness of a Slope
  36. PART 2 Supply and Demand
  37. Chapter 3 Markets
  38. Mobiles Go Global
  39. Markets
  40. What Is a Market?
  41. What Is a Competitive Market?
  42. Demand
  43. The Demand Curve
  44. Determinants of Demand
  45. Shifts in the Demand Curve
  46. Supply
  47. The Supply Curve
  48. Determinants of Supply
  49. Shifts in the Supply Curve
  50. Market Equilibrium
  51. Reaching Equilibrium
  52. Changes in Equilibrium
  53. Conclusion
  54. APPENDIX B Math Essentials: Working with Linear Equations
  55. Interpreting the Equation of a Line
  56. Turning a Graph into an Equation
  57. Turning an Equation into a Graph
  58. Equations with x and y Reversed
  59. Shifts and Pivots
  60. Solving for Equilibrium
  61. Chapter 4 Elasticity
  62. Canada’s Everyday Drink
  63. What Is Elasticity?
  64. Price Elasticity of Demand
  65. Calculating Price Elasticity of Demand
  66. Using the Mid-point Method
  67. Determinants of Price Elasticity of Demand
  68. Using Price Elasticity of Demand
  69. Price Elasticity of Supply
  70. Calculating Price Elasticity of Supply
  71. Determinants of Price Elasticity of Supply
  72. Other Elasticities
  73. Cross-Price Elasticity of Demand
  74. Income Elasticity of Demand
  75. Conclusion
  76. APPENDIX C Math Essentials: Calculating Percentage Change, Slope, and Elasticity
  77. Percentage Change
  78. Slope and Elasticity
  79. Q over P, or P over Q?
  80. Elasticity Changes Along Lines with Constant Slope
  81. Chapter 5 Efficiency
  82. A Broken Laser Pointer Starts an Internet Revolution
  83. Willingness to Pay and Sell
  84. Willingness to Pay and the Demand Curve
  85. Willingness to Sell and the Supply Curve
  86. Measuring Surplus
  87. Consumer Surplus
  88. Producer Surplus
  89. Total Surplus
  90. Using Surplus to Compare Alternatives
  91. Market Equilibrium and Efficiency
  92. Changing the Distribution of Total Surplus
  93. Deadweight Loss
  94. Missing Markets
  95. Conclusion
  96. APPENDIX D Math Essentials: The Area Under a Linear Curve
  97. The Area Under a Linear Curve
  98. Chapter 6 Government Intervention
  99. Feeding the World, One Price Control at a Time
  100. Why Intervene?
  101. Three Reasons to Intervene
  102. Four Real-World Interventions
  103. Price Controls
  104. Price Ceilings
  105. Price Floors
  106. Taxes and Subsidies
  107. Taxes
  108. Subsidies
  109. Evaluating Government Interventions
  110. How Big is the Effect of a Tax or Subsidy?
  111. Long-Run versus Short-Run Impact
  112. Conclusion
  113. PART 3 The Data of Macroeconomics
  114. Chapter 7 Measuring GDP
  115. It’s More than Counting Berries
  116. Valuing an Economy
  117. Unpacking the Definition of GDP
  118. Production Equals Expenditure Equals Income
  119. Approaches to Measuring GDP
  120. The Expenditure Approach
  121. The Income Approach
  122. The Value-Added Approach
  123. Using GDP to Compare Economies
  124. Real versus Nominal GDP
  125. The GDP Deflator
  126. Using GDP to Assess Economic Health
  127. Limitations of GDP Measures
  128. Data Challenges
  129. GDP versus Well-Being
  130. Conclusion
  131. Chapter 8 The Cost of Living
  132. Get Cracking
  133. The Cost of Living
  134. Measuring Price Changes Over Time
  135. The Market Basket
  136. Consumer Price Index
  137. The Challenges in Measuring Price Changes
  138. Using Price Indexes
  139. The Inflation Rate
  140. Deflating Nominal Variables
  141. Adjusting for Inflation: Indexing
  142. Accounting for Price Differences Across Places
  143. Purchasing Power Parity
  144. Purchasing Power Indexes
  145. PPP-Adjustment
  146. Conclusion
  147. PART 4 Labour Market and Economic Growth
  148. Chapter 9 Unemployment and the Labour Market
  149. What Does It Mean to Be Unemployed?
  150. Defining and Measuring Unemployment
  151. Where Does the Data Come From?
  152. Measuring Unemployment
  153. Beyond the Unemployment Rate
  154. Equilibrium in the Labour Market
  155. Categories of Unemployment
  156. Natural Rate of Unemployment
  157. Cyclical Unemployment
  158. Public Policies and Other Influences on Unemployment
  159. Factors That May Stop Wage Rates from Falling
  160. Employment Insurance
  161. Other Factors: Taxes and Worker Rights
  162. Conclusion
  163. Chapter 10 Economic Growth
  164. Why Economic Growth Matters
  165. Economic Growth Through the Ages
  166. History of World Growth
  167. Compounding and the Rule of 70
  168. Determinants of Productivity
  169. Productivity Drives Growth
  170. Components of Productivity
  171. Rates versus Levels
  172. Accounting for Growth
  173. Convergence
  174. Growth and Public Policy
  175. Investment and Savings
  176. Education and Health
  177. Technological Development
  178. Laying the Groundwork: Good Government, Property Rights, and Economic Openness
  179. The Juggling Act
  180. Conclusion
  181. PART 5 The Economy in the Short and Long Run
  182. Chapter 11 Aggregate Expenditure
  183. The Big Crash
  184. The Components of Aggregate Expenditure
  185. Consumption
  186. Investment
  187. Government Spending
  188. Net Exports
  189. Autonomous Expenditure and Simplifying Assumptions
  190. Aggregate Expenditure Equilibrium and the Keynesian Cross
  191. Actual versus Planned Aggregate Expenditure
  192. Keynesian Equilibrium
  193. Output Gaps
  194. The Multiplier Effect
  195. Conclusion
  196. APPENDIX E Math Essentials: Algebra and Aggregate Expenditure
  197. Using Algebra to Find Equilibrium Aggregate Expenditure
  198. Using Algebra to Derive the Expenditure Multiplier
  199. Chapter 12 Aggregate Demand and Aggregate Supply
  200. Pop! Goes the Bubble
  201. Tying It All Together
  202. Aggregate Demand
  203. The Aggregate Demand Curve
  204. Shifting the Aggregate Demand Curve
  205. The Multiplier and Shifts in Aggregate Demand
  206. Aggregate Supply
  207. The Difference Between Short-Run and Long-Run Aggregate Supply
  208. Shifts in the Short-Run Aggregate Supply Curve
  209. Shifts in the Long-Run Aggregate Supply Curve
  210. Do the LRAS and SRAS Always Shift Together?
  211. Economic Fluctuations
  212. Effects of a Shift in Aggregate Demand
  213. Effects of a Shift in Aggregate Supply
  214. Comparing Demand and Supply Shocks
  215. The Role of Public Policy
  216. Government Spending to Counter Negative Demand Shocks
  217. Government Spending to Counter Negative Supply Shocks
  218. Conclusion
  219. Chapter 13 Fiscal Policy
  220. From Prosperity to Great Recession
  221. Fiscal Policy
  222. Expansionary or Contractionary?
  223. Policy Response to Economic Fluctuations
  224. Real-World Challenges
  225. Policy Tools—Discretionary and Automatic
  226. Limits of Fiscal Policy: The Money Must Come from Somewhere
  227. The Government Budget
  228. Revenue and Spending
  229. The Budget Deficit
  230. The Public Debt
  231. Size of the Debt
  232. How Does the Government Go Into Debt?
  233. Is Government Debt Good or Bad?
  234. Conclusion
  235. PART 6 The Financial System and Institutions
  236. Chapter 14 The Basics of Finance
  237. Safe Investment?
  238. The Role of Financial Markets
  239. What Is a Financial Market?
  240. Information Asymmetries and Financial Markets
  241. Functions of Banks and Financial Markets
  242. The Market for Loanable Funds: A Simplified Financial Market
  243. Savings, Investment, and the Price of Loanable Funds
  244. Changes in the Supply and Demand for Loanable Funds
  245. A Price for Every Borrower: A More Realistic Look at Interest Rates
  246. The Modern Financial System
  247. Functions of the Financial System
  248. Major Financial Assets
  249. Major Players in the Financial System
  250. Valuing Assets
  251. The Trade-Off Between Risk and Return
  252. Predicting Returns: The Efficient-Market Hypothesis
  253. A National Accounts Approach to Finance
  254. The Savings–Investment Identity
  255. Private Savings, Public Savings, and Capital Flows
  256. Conclusion
  257. Chapter 15 Money and the Monetary System
  258. Cigarette Money
  259. What Is Money?
  260. Functions of Money
  261. What Makes for Good Money?
  262. Commodity-Backed Money versus Fiat Money
  263. Banks and the Money-Creation Process
  264. “Creating” Money
  265. Measuring Money
  266. Managing the Money Supply: The Bank of Canada
  267. The Role of the Central Bank
  268. How Does the Bank of Canada Work?
  269. Tools of Monetary Policy
  270. The Economic Effects of Monetary Policy
  271. Interest Rates and Monetary Policy: The Liquidity-Preference Model
  272. Interest Rates and the Economy
  273. Conclusion
  274. Chapter 16 Inflation
  275. A Land of Opportunity . . . and Inflation
  276. Changing Price Levels
  277. Measuring Inflation
  278. The Neutrality of Money
  279. The Classical Theory of Inflation
  280. The Quantity Theory of Money
  281. Other Causes of Changing Price Levels
  282. Why Do We Care about Changing Price Levels?
  283. Inflation
  284. Deflation
  285. Controlling Inflation . . . or Not: Disinflation and Hyperinflation
  286. Disinflation
  287. Hyperinflation
  288. Why a Little Inflation Is Good
  289. Inflation and Monetary Policy
  290. The Competing Goals of Maintaining Price Stability and Full Employment
  291. The Output Gap and Monetary Policy
  292. Inflation and Unemployment
  293. Conclusion
  294. Chapter 17 Financial Crises
  295. Walking Away from a Mortgage
  296. Origins of Financial Crises
  297. Irrational Expectations
  298. Leverage
  299. Two Famous Historical Financial Crises
  300. The 1970s and 1980s
  301. The Turn of the Century
  302. The Financial and Economic Crisis in Canada: Case Study
  303. Subprime Lending
  304. The Creation of the Housing Bubble
  305. Effects of the Housing Bubble Collapse
  306. A Domino Effect Toward Reduced Output
  307. The Immediate Response to the Crisis
  308. Stimulus at the Zero Lower Bound
  309. Recurrence of the Financial Crisis
  310. Conclusion
  311. PART 7 International Policy Issues
  312. Chapter 18 Open-Market Macroeconomics
  313. From Factory to Figures
  314. International Flows of Goods and Capital
  315. Imports and Exports
  316. Foreign Investment
  317. Balance of Payments
  318. International Capital Flows
  319. Determinants of International Capital Flows
  320. Effects of Foreign Investment
  321. Can a Country Save Too Much?
  322. Exchange Rates
  323. The Foreign-Exchange Market
  324. A Model of the Exchange-Rate Market
  325. Exchange-Rate Regimes
  326. Macroeconomic Policy and Exchange Rates
  327. The Real Exchange Rate
  328. Global Financial Crises
  329. The Role of the IMF
  330. Debt Crises
  331. Exchange-Rate Crises
  332. Conclusion
  333. Chapter 19 Development Economics
  334. Poverty Amid Plenty
  335. Development and Capabilities
  336. The Capabilities Approach
  337. Economic Growth and Economic Development
  338. The Basics of Development Economics
  339. Human Capital
  340. Institutions
  341. Investment
  342. Trade
  343. Migration
  344. What Can Aid Do?
  345. Perspectives on Foreign Aid
  346. Poverty Traps and the Millennium Development Goals
  347. The Major Distributors of Aid
  348. Problems with Foreign Aid
  349. Impact Investing
  350. How Do We Know What Works?
  351. Conclusion
  352. Glossary
  353. Endnotes
  354. Index

 

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