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| 1. Front and back end papers, column 1, row 8: "2002 dollars" should be "2000 dollars". 2. Chapter 3, p. 60, Figure 3.9 legend, line 3: change "shortage" to "surplus". 3. Chapter 6, p. 122, table for Question 8: change "-8" to "8". 4. Chapter 8, p. 150, below graph 8.1 in the 2nd column: The MPS formula is repeated twice and the MPC formula is not given. The MPC formula (provided below) should preceed the MPS. MPC = change in consumption/change in income. 5. Chapter 11, p. 216, column 2, line 1: change "public debt" to "budget deficit". 6. Chapter 21, p. 411, Table 21.6, column 1: change "110" to "10". 7. Back end papers, row 9, years 1982-1988: change the numbers to -1.9, 4.5, 7.2, 3.5, 4.1, 3.4, and 4.1. 8. Chapter 14, p. 270: The first bulleted point beneath The Taylor Rule should read “If real GDP rises by 1 percent above potential GDP, the Fed should raise the Federal funds rate (in real terms) by a percentage point.” Updates 1 Chapter 5, p. 98 a) In 2007 the European Union (EU) admitted Bulgaria and Romania as new members, bringing total EU membership to 27 nations. b) In 2007 the number of nations using the euro rose to 13 with the addition of Slovenia to the Euro Zone. |