Ansel M. Sharp,
University of the South Charles A. Register,
Florida Atlantic University - Boca Raton Paul W. Grimes,
Mississippi State University
ISBN: 007340280x Copyright year: 2008
What's New
Enhanced and more thorough treatment of the Production Possibilities model in Chapter 1.
In an effort to stay current, the authors eliminated the outdated “collectively consumed/individually consumed” dichotomy in favor of the more modern “public/private good” characterization. This is first seen in Chapter 5 and carried throughout the rest of the book.
Significantly updated Chapter 12 on “Unemployment.” The authors took a more modern approach to introduce Aggregate Supply and Aggregate Demand. The new discussion now breaks Aggregate Supply and Aggregate Demand into short-term and long-term. Additionally, an enhanced discussion of labor force definitions and terms was added.
Significantly updated Chapter 13 on “Inflation.” Discussion in this chapter builds upon the new breakdown of Aggregate Supply and Aggregate Demand introduced in Chapter The chapter now distinguishes between short-term and long-term situations and outcomes. All new graphs are included in this chapter.
All data found in the 18th edition was thoroughly revised and updated with the latest available economic statistics. Additionally, the authors updated review questions and the recommended readings list to reflect new or modified content. The end-of-chapter list of websites points readers to original data sources for the latest figures released after publication.
To obtain an instructor login for this Online Learning Center, ask your local sales representative.
If you're an instructor thinking about adopting this textbook, request a free copy for review.
2008 McGraw-Hill Higher Education