Solution Manual for Principles of Macroeconomics, Seventh Canadian Edition digital download immediately after payment is complete.

Product details:

• ISBN-10 ‏ : ‎ 0176591990
• ISBN-13 ‏ : ‎ 978-0176591991
• Author: N. Gregory Mankiw

Principles of Macroeconomics, Seventh Canadian Edition, is designed to appeal to all students through its breakdown of concepts, focus on big ideas, and user-friendly language. As the market leader, its clear, concise, and consistent approach grounds students in difficult concepts and links theory to real-world applications, assisting in making the connection from page to action. Students receive a sophisticated understanding of how the economy operates without losing the big ideas through various pedagogical features that summarize major concepts, apply economic theory to students’ experiences and lives, and develop the building blocks required to achieve higher levels of understanding. As Mankiw states, “My goal in writing my text was to try and remember and to write a text that I would have liked to have read”, and this is the same approach he, Kneebone, and McKenzie have continued with the Seventh Canadian Edition.

Table contents:

1. Chapter 1: Ten Principles of Economics
2. 1-1: How People Make Decisions
3. 1-1a: Principle #1: People Face Tradeoffs
4. 1-1b: Principle #2: The Cost of Something Is What You Give Up to Get It
5. 1-1c: Principle #3: Rational People Think at the Margin
6. 1-1d: Principle #4: People Respond to Incentives
7. 1-2: How People Interact
8. 1-2a: Principle #5: Trade Can Make Everyone Better Off
9. 1-2b: Principle #6: Markets Are Usually a Good Way to Organize Economic Activity
10. 1-2c: Principle #7: Governments Can Sometimes Improve Market Outcomes
11. 1-3: How the Economy as a Whole Works
12. 1-3a: Principle #8: A Country’s Standard of Living Depends on Its Ability to Produce Goods and Ser
13. 1-3b: Principle #9: Prices Rise When the Government Prints Too Much Money
14. 1-3c: Principle #10: Society Faces a Short-Run Tradeoff between Inflation and Unemployment
15. 1-4: Conclusion
16. Summary
17. Key Concepts
18. Questions for Review
19. Quick Check Multiple Choice
20. Problems and Applications
21. Chapter 2: Thinking Like an Economist
22. 2-1: The Economist as Scientist
23. 2-1a: The Scientific Method: Observation, Theory, and More Observation
24. 2-1b: The Role of Assumptions
25. 2-1c: Economic Models
26. 2-1d: Our First Model: The Circular-Flow Diagram
27. 2-1e: Our Second Model: The Production Possibilities Frontier
28. 2-1f: Microeconomics and Macroeconomics
29. 2-2: The Economist as Policy Adviser
30. 2-2a: Positive versus Normative Analysis
31. 2-2b: Economists in Ottawa
32. 2-2c: Why Economists’ Advice Is Not Always Followed
33. 2-3: Why Economists Disagree
34. 2-3a: Differences in Scientific Judgments
35. 2-3b: Differences in Values
36. 2-3c: Perception versus Reality
37. 2-4: Let’s Get Going
38. Summary
39. Key Concepts
40. Questions for Review
41. Quick Check Multiple Choice
42. Problems and Applications
43. Appendix: Graphing: A Brief Review
44. Graphs of a Single Variable
45. Graphs of Two Variables: The Coordinate System
46. Curves in the Coordinate System
47. Slope
48. Graphing Functions
49. Cause and Effect
50. Chapter 3: Interdependence and the Gains from Trade
51. 3-1: A Parable for the Modern Economy
52. 3-1a: Production Possibilities
53. 3-1b: Specialization and Trade
54. 3-2: Comparative Advantage: The Driving Force of Specialization
55. 3-2a: Absolute Advantage
56. 3-2b: Opportunity Cost and Comparative Advantage
57. 3-2c: Comparative Advantage and Trade
58. 3-2d: The Price of Trade
59. 3-3: Applications of Comparative Advantage
60. 3-3a: Should Sidney Crosby Shovel His Own Sidewalk?
61. 3-3b: Should Canada Trade with Other Countries?
62. Conclusion
63. Summary
64. Key Concepts
65. Questions for Review
66. Quick Check Multiple Choice
67. Problems and Applications
68. Chapter 4: The Market Forces of Supply and Demand
69. 4-1: Markets and Competition
70. 4-1a: What Is a Market?
71. 4-1b: What Is Competition?
72. 4-2: Demand
73. 4-2a: The Demand Curve: The Relationship between Price and Quantity Demanded
74. 4-2b: Market Demand versus Individual Demand
75. 4-2c: Shifts in the Demand Curve
76. 4-3: Supply
77. 4-3a: The Supply Curve: The Relationship between Price and Quantity Supplied
78. 4-3b: Market Supply versus Individual Supply
79. 4-3c: Shifts in the Supply Curve
80. 4-4: Supply and Demand Together
81. 4-4a: Equilibrium
82. 4-4b: Three Steps to Analyzing Changes in Equilibrium
83. 4-5: Conclusion: How Prices Allocate Resources
84. Summary
85. Key Concepts
86. Questions for Review
87. Quick Check Multiple Choice
88. Problems and Applicaitons
89. Chapter 5: Measuring a Nation’s Income
90. 5-1: The Economy’s Income and Expenditure
91. 5-2: The Measurement of Gross Domestic Product
92. 5-2a: “GDP Is the Market Value …”
93. 5-2b: “… Of All …”
94. 5-2c: “… Final …”
95. 5-2d: “… Goods and Services …”
96. 5-2e: “… Produced …”
97. 5-2f: “… Within a Country …”
98. 5-2g: “… In a Given Period of Time”
99. 5-3: The Components of GDP
100. 5-3a: Consumption
101. 5-3b: Investment
102. 5-3c: Government Purchases
103. 5-3d: Net Exports
104. 5-4: Real versus Nominal GDP
105. 5-4a: A Numerical Example
106. 5-4b: The GDP Deflator
107. 5-5: GDP and Economic Well-Being
108. 5-6: Conclusion
109. Summary
110. Key Concepts
111. Questions for Review
112. Quick Check Multiple Choice
113. Problems and Applications
114. Chapter 6: Measuring the Cost of Living
115. 6-1: The Consumer Price Index
116. 6-1a: How the Consumer Price Index Is Calculated
117. 6-1b: Problems in Measuring the Cost of Living
118. 6-1c: The GDP Deflator versus the Consumer Price Index
119. 6-2: Correcting Economic Variables for the Effects of Inflation
120. 6-2a: Dollar Figures from Different Times
121. 6-2b: Indexation
122. 6-2c: Real and Nominal Interest Rates
123. 6-3: Conclusion
124. Summary
125. Key Concepts
126. Questions for Reivew
127. Quick Check Multiple Choice
128. Problems and Applications
129. Chapter 7: Production and Growth
130. 7-1: Economic Growth around the World
131. 7-2: Productivity: Its Role and Determinants
132. 7-2a: Why Productivity Is So Important
133. 7-2b: How Productivity Is Determined
134. 7-3: Economic Growth and Public Policy
135. 7-3a: The Importance of Saving, Investment, and Stable Financial Markets
136. 7-3b: Diminishing Returns and the Catch-Up Effect
137. 7-3c: Investment from Abroad
138. 7-3d: Education
139. 7-3e: Health and Nutrition
140. 7-3f: Property Rights and Political Stability
141. 7-3g: Free Trade
142. 7-3h: Research and Development
143. 7-3i: Population Growth
144. 7-4: Conclusion: The Importance of Long-Run Growth
145. Summary
146. Key Concepts
147. Questions for Review
148. Quick Check Multiple Choice
149. Problems and Applications
150. Chapter 8: Saving, Investment, and the Financial System
151. 8-1: Financial Institutions in the Canadian Economy
152. 8-1a: Financial Markets
153. 8-1b: Financial Intermediaries
154. 8-1c: Summing Up
155. 8-2: Saving and Investment in the National Income Accounts
156. 8-2a: Some Important Identities
157. 8-2b: The Meaning of Saving and Investment
158. 8-3: The Market for Loanable Funds
159. 8-3a: Supply and Demand for Loanable Funds
160. 8-3b: Policy 1: Saving Incentives
161. 8-3c: Policy 2: Investment Incentives
162. 8-3d: Policy 3: Government Budget Deficits and Surpluses
163. Conclusion
164. Summary
165. Key Concepts
166. Questions for Review
167. Quick Check Multiple Choice
168. Problems and Applicatoins
169. Chapter 9: Unemployment and Its Natural Rate
170. 9-1: Identifying Unemployment
171. 9-1a: How Is Unemployment Measured?
172. 9-1b: Does the Unemployment Rate Measure What We Want It To?
173. 9-1c: How Long Are the Unemployed without Work?
174. 9-1d: Why Are There Always Some People Unemployed?
175. 9-2: Job Search
176. 9-2a: Why Some Frictional Unemployment Is Inevitable
177. 9-2b: Public Policy and Job Search
178. 9-2c: Employment Insurance
179. 9-3: Minimum-Wage Laws
180. 9-4: Unions and Collective Bargaining
181. 9-4a: The Economics of Unions
182. 9-4b: Are Unions Good or Bad for the Economy?
183. 9-5: The Theory of Efficiency Wages
184. 9-5a: Worker Health
185. 9-5b: Worker Turnover
186. 9-5c: Worker Effort
187. 9-6d: Worker Quality
188. Conclusion
189. Summary
190. Key Concepts
191. Questions for Reivew
192. Quick Check Multiple Choice
193. Problems and Applications
194. Chapter 10: The Monetary System
195. 10-1: The Meaning of Money
196. 10-1a: The Functions of Money
197. 10-1b: The Kinds of Money
198. 10-1c: Money in the Canadian Economy
199. 10-2: The Bank of Canada
200. 10-2a: The Bank of Canada Act
201. 10-2b: Monetary Policy
202. 10-3: Commercial Banks and the Money Supply
203. 10-3a: The Simple Case of 100 Percent-Reserve Banking
204. 10-3b: Money Creation with Fractional-Reserve Banking
205. 10-3c: The Money Multiplier
206. 10-3d: Bank Capital, Leverage, and the Financial Crisis of 2007–09
207. 10-3e: The Bank of Canada’s Tools of Monetary Control
208. 10-3f: Problems in Controlling the Money Supply
209. Conclusion
210. Summary
211. Key Concepts
212. Questions for Review
213. Quick Check Multiple Choice
214. Problems and Applications
215. Chapter 11: Money Growth and Inflation
216. 11-1: The Classical Theory of Inflation
217. 11-1a: The Level of Prices and the Value of Money
218. 11-1b: Money Supply, Money Demand, and Monetary Equilibrium
219. 11-1c: The Effects of a Monetary Injection
220. 11-1d: A Brief Look at the Adjustment Process
221. 11-1e: The Classical Dichotomy and Monetary Neutrality
222. 11-1f: Velocity and the Quantity Equation
223. 11-1g: The Inflation Tax
224. 11-1h: The Fisher Effect
225. 11-2: The Costs of Inflation
226. 11-2a: A Fall in Purchasing Power? The Inflation Fallacy
227. 11-2b: Shoeleather Costs
228. 11-2c: Menu Costs
229. 11-2d: Relative-Price Variability and the Misallocation of Resources
230. 11-2e: Inflation-Induced Tax Distortions
231. 11-2f: Confusion and Inconvenience
232. 11-2g: A Special Cost of Unexpected Inflation: Arbitrary Redistributions of Wealth
233. 11-2h: Inflation Is Bad, but Deflation May Be Worse
234. 11-3: Conclusion
235. Summary
236. Key Concepts
237. Questions for Reivew
238. Quick Check Multiple Choice
239. Problems and Applications
240. Chapter 12: Open-Economy Macroeconomics: Basic Concepts
241. 12-1: The International Flows of Goods and Capital
242. 12-1a: The Flow of Goods: Exports, Imports, and Net Exports
243. 12-1b: The Flow of Financial Resources: Net Capital Outflow
244. 12-1c: The Equality of Net Exports and Net Capital Outflow
245. 12-1d: Saving, Investment, and Their Relationship to the International Flows
246. 12-1e: Summing Up
247. 12-2: The Prices for International Transactions: Real and Nominal Exchange Rates
248. 12-2a: Nominal Exchange Rates
249. 12-2b: Real Exchange Rates
250. 12-3: A First Theory of Exchange-Rate Determination: Purchasing-Power Parity
251. 12-3a: The Basic Logic of Purchasing-Power Parity
252. 12-3b: Implications of Purchasing-Power Parity
253. 12-3c: Limitations of Purchasing-Power Parity
254. 12-4: Interest Rate Determination in a Small Open Economy with Perfect Capital Mobility
255. 12-4a: A Small Open Economy
256. 12-4b: Perfect Capital Mobility
257. 12-4c: Limitations to Interest Rate Parity
258. 12-5: Conclusion
259. Summary
260. Key Concepts
261. Questions for Review
262. Quick Check Multiple Choice
263. Problems and Applications
264. Chapter 13: A Macroeconomic Theory of the Small Open Economy
265. 13-1: Supply and Demand for Loanable Funds and for Foreign-Currency Exchange
266. 13-1a: The Market for Loanable Funds
267. 13-1b: The Market for Foreign-Currency Exchange
268. 13-1c: Disentangling Supply and Demand in the Market for Foreign-Currency Exchange
269. 13-2: Equilibrium in the Small Open Economy
270. 13-2a: Net Capital Outflow: The Link between the Two Markets
271. 13-2b: Simultaneous Equilibrium in Two Markets
272. 13-3: How Policies and Events Affect a Small Open Economy
273. 13-3a: Increase in World Interest Rates
274. 13-3b: Government Budget Deficits and Surpluses
275. 13-3c: Trade Policy
276. 13-3d: Political Instability and Capital Flight
277. 13-4: Conclusion
278. Summary
279. Key Concepts
280. Questions for Review
281. Quick Check Multiple Choice
282. Problems and Applications
283. Chapter 14: Aggregate Demand and Aggregate Supply
284. 14-1: Three Key Facts about Economic Fluctuations
285. 14-1a: Fact 1: Economic Fluctuations Are Irregular and Unpredictable
286. 14-1b: Fact 2: Most Macroeconomic Quantities Fluctuate Together
287. 14-1c: Fact 3: As Output Falls, Unemployment Rises
288. 14-2: Explaining Short-Run Economic Fluctuations
289. 14-2a: The Assumptions of Classical Economics
290. 14-2b: The Reality of Short-Run Fluctuations
291. 14-2c: The Model of Aggregate Demand and Aggregate Supply
292. 14-3: The Aggregate-Demand Curve
293. 14-3a: Why the Aggregate-Demand Curve Slopes Downward
294. 14-3b: Why the Aggregate-Demand Curve Might Shift
295. 14-4: The Aggregate-Supply Curve
296. 14-4a: Why the Aggregate-Supply Curve Is Vertical in the Long Run
297. 14-4b: Why the Long-Run Aggregate-Supply Curve Might Shift
298. 14-4c: Using Aggregate Demand and Aggregate Supply to Depict Long-Run Growth and Inflation
299. 14-4d: Why the Aggregate-Supply Curve Slopes Upward in the Short Run
300. 14-4e: Why the Short-Run Aggregate-Supply Curve Might Shift
301. 14-5: Two Causes of Economic Fluctuations
302. 14-5a: Effects of a Shift in Aggregate Demand
303. 14-5b: The Effects of a Shift in Aggregate Supply
304. 14-6: Conclusion
305. Summary
306. Key Concepts
307. Questions for Review
308. Quick Check Multiple Choice
309. Problems and Applications
310. Chapter 15: The Influence of Monetary and Fiscal Policy on Aggregate Demand
311. 15-1: How Monetary Policy Influences Aggregate Demand
312. 15-1a: The Theory of Liquidity Preference
313. 15-1b: The Downward Slope of the Aggregate-Demand Curve
314. 15-1c: Changes in the Money Supply
315. 15-1d: Open-Economy Considerations
316. 15-2: How Fiscal Policy Influences Aggregate Demand
317. 15-2a: Changes in Government Purchases
318. 15-2b: The Multiplier Effect
319. 15-2c: A Formula for the Spending Multiplier
320. 15-2d: Other Applications of the Multiplier Effect
321. 15-2e: The Crowding-Out Effect on Investment
322. 15-2f: Open-Economy Considerations
323. 15-2g: Changes in Taxes
324. 15-2h: Deficit Reduction
325. 15-3: Using Policy to Stabilize the Economy
326. 15-3a: The Case for Active Stabilization Policy
327. 15-3b: The Case against Active Stabilization Policy
328. 15-3c: Automatic Stabilizers
329. 15-3d: A Flexible Exchange Rate as an Automatic Stabilizer
330. 15-4: A Quick Summary
331. 15-5: Conclusion
332. Summary
333. Key Concepts
334. Questions for Review
335. Quick Check Multiple Choice
336. Problems and Applications
337. Chapter 16: The Short-Run Tradeoff between Inflation and Unemployment
338. 16-1: The Phillips Curve
339. 16-1a: Origins of the Phillips Curve
340. 16-1b: Aggregate Demand, Aggregate Supply, and the Phillips Curve
341. 16-2: Shifts in the Phillips Curve: The Role of Expectations
342. 16-2a: The Long-Run Phillips Curve
343. 16-2b: The Meaning of “Natural”
344. 16-2c: Reconciling Theory and Evidence
345. 16-2d: The Short-Run Phillips Curve
346. 16-2e: The Natural Experiment for the Natural-Rate Hypothesis
347. 16-3: Shifts in the Phillips Curve: The Role of Supply Shocks
348. 16-4: The Cost of Reducing Inflation
349. 16-4a: The Sacrifice Ratio
350. 16-4b: Rational Expectations and the Possibility of Costless Disinflation
351. 16-4c: Disinflation in the 1980s
352. 16-4d: The Zero-Inflation Target
353. 16-4e: Anchored Expectations
354. 16-4f: The 2008–09 Recession
355. 16-5: Looking Ahead
356. 16-6: Conclusion
357. Summary
358. Key Concepts
359. Questions for Review
360. Quick Check Multiple Choice
361. Problems and Applications
362. Chapter 17: Five Debates over Macroeconomic Policy
363. 17-1: Should Monetary and Fiscal Policymakers Try to Stabilize the Economy?
364. 17-1a: Pro: Policymakers Should Try to Stabilize the Economy
365. 17-1b: Con: Policymakers Should Not Try to Stabilize the Economy
366. 17-2: Should Monetary Policy Be Made by an Independent Central Bank?
367. 17-2a: Pro: Monetary Policy Should Be Made by an Independent Central Bank
368. 17-2b: Con: Monetary Policy Should Not Be Made by an Independent Central Bank
369. 17-3: Should the Central Bank Aim for Zero Inflation?
370. 17-3a: Pro: The Central Bank Should Aim for Zero Inflation
371. 17-3b: Con: The Central Bank Should Not Aim for Zero Inflation
372. 17-4: Should Governments Balance Their Budgets?
373. 17-4a: Pro: Governments Should Balance Their Budgets
374. 17-4b: Con: Governments Should Not Balance Their Budgets
375. 17-5: Should the Tax Laws Be Reformed to Encourage Saving?
376. 17-5a: Pro: The Tax Laws Should Be Reformed to Encourage Saving
377. 17-5b: Con: The Tax Laws Should Not Be Reformed to Encourage Saving
378. 17-6: Conclusion
379. Summary
380. Questions for Review
381. Quick Check Multiple Choice
382. Problems and Applicaitons

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