| Description |
xv, 492 pages : illustrations ; 23 cm |
| Series |
McGraw-Hill economics series |
|
McGraw-Hill economics series.
|
| Contents |
Machine generated contents note: 1.Alleviating Human Misery -- World Poverty and Economics -- Our Insatiable Wants -- Our Limited Means -- The Capacity of the Economy to Produce -- Assessing Well-Being Using GDP -- Causes of Poverty and Requisites of Economic Growth -- Can Governments Help? -- Governments of LDCs -- Governments of DCs -- Summary -- 2.Economic Systems, Resource Allocation, and Social Well-Being -- Economic Systems -- Pure Market Economy -- Pure Command Economy -- Mixed Systems -- Resource Allocation in a Market Economy -- Market Structure -- Market Forces -- Supply -- Competitive Market Equilibrium and Social Well-Being -- Resource Allocation in a Command Economy -- Centralized Planning -- Problems with Centralized Planning -- The New Chinese Economy -- China's Transition to a Market-Oriented Economy -- China's Transition to Markets: What Are the Facts? -- Problems of Transition in China -- Summary -- 3.Government Control of Prices in Mixed Systems -- |
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Contents note continued: Price Ceilings and Floors -- Rent Controls -- Demand -- Supply -- Price -- The Effects of Rent Controls -- Minimum Wages -- Market Demand for Labor -- The Demand for Labor by One Employer -- Market Supply of Labor -- The Labor Market -- The Effects of the Minimum Wage -- Summary -- 4.Pollution Problems -- What Is Pollution? -- The Environment and Its Services -- Recycling of Wastes and the Concept of Pollution -- Markets, Resource Allocation, and Social Well-Being: A Recap and Extension -- Demand, Marginal Private Benefit, and Marginal Social Benefit -- Supply, Marginal Private Cost, and Marginal Social Cost -- The Market and Social Well-Being -- Economics of Pollution -- Why Polluters Pollute -- Pollution and Resource Allocation -- The Appropriate Level of Pollution Control -- What Can Be Done about Pollution? -- Direct Controls -- Indirect Controls -- Creation of Pollution Rights Markets -- Summary -- 5.Economics of Crime and Its Prevention -- |
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Contents note continued: What Is Crime? -- Immorality? -- Illegality? -- Classification of Criminal Acts -- The Costs of Crime -- Different Types of Goods and Services -- Private Goods and Services -- Semiprivate Goods and Services -- Public Goods and Services -- The Free-Rider Problem -- Government Production of Public Items -- The Economics of Crime Prevention Activities -- The "Optimal" Level -- Allocation of the Crime Prevention Budget -- Changing the Legal Status of Goods and Services -- Causes of Criminal Activity -- Summary -- 6.The Economics of Education -- The Crisis in K-12 -- K-12 as a Purely Private Market -- Potential Shortcomings of a Purely Private Market for K-12 -- Positive Externalities in Consumption -- Lost Social and Cultural Cohesion through Segregation -- What of Equal Opportunity? -- Proposals for Reform in the Current K-12 System -- School Choice and Vouchers -- Class-Size Reductions and Other School Resource Issues -- Reform Proposals: A Postscript -- |
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Contents note continued: Summary -- 7.Poverty and Discrimination -- Poverty in Terms of Absolute Income Levels -- What Is Poverty? -- Who Are the Poor? -- Poverty in Terms of Income Distribution -- Income Inequality -- The Economic Causes of Poverty -- Determinants of Resource Prices and Employment -- Determination of Individual or Family Income -- Determinants of Income Distribution -- The Effects of Discrimination on Income -- Evidence of Discrimination in Our Economy -- Wage Discrimination -- Employment Discrimination -- Occupational Discrimination -- Government Attempts to Alleviate Poverty -- The Old Federal Welfare System -- Problems with the Old Welfare System -- Welfare Reform and the New System -- Using Tax Policy to Fight Poverty -- The Earned Income Tax Credit -- The Negative Income Tax Proposal -- What Can Be Done About Discrimination? -- Reduce Tastes for Discrimination -- Reduce Market Imperfections -- Reduce Discrimination in Development of Human Capital -- |
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Contents note continued: Reduce Occupational Segregation -- Summary -- 8.The Economics of Monopoly Power -- The Economics of Monopoly Power -- What Is Monopoly Power? -- Outputs and Prices -- Entry Restrictions -- Nonprice Competition -- Should We Fear Monopoly Power? -- Outputs and Prices -- Entry Restrictions and Resource Allocation -- Nonprice Competition -- What of Bigness? -- The Peculiar Case of Natural Monopoly -- When Should Government Regulate Business? -- Regulation and Corporate Responsibility -- Summary -- 9.The Economics of Professional Sports -- The Professional Sports Business -- Organizational Structure -- Teams and Players -- Economic Analysis and Professional Sports -- The Product Market -- Cooperation among Teams -- Cartels -- Coordinated Behavior -- Pricing and Output for Broadcast Rights -- The Number and Location of Teams -- The Stadium Controversy -- The Resource Market -- The Employment of Players -- Monopsony -- Wages and Employment in a Monopsony -- |
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Contents note continued: Free Agency -- Labor Disputes -- Do Professional Athletes Earn Their Pay? -- Illicit Drugs and Professional Sports -- The Case of Major League Soccer -- Summary -- 10.Competition in the Global Marketplace -- The Controversy over International Trade -- The Protectionist Viewpoint -- The Free Trade Viewpoint -- The Economics of the Global Marketplace -- How Trade Takes Place -- Production and Consumption Possibilities -- The Principle of Comparative Advantage -- How International Trade Is Financed -- International Trade Restrictions -- Analysis of the Controversy -- Protection from Cheap Foreign Goods -- Outsourcing of Service Jobs -- Payments Problems -- Protection of Key and Infant Industries -- Protection of the Environment and Human Rights -- Today's Global Trade Environment -- The World Trade Organization -- Common Markets -- Summary -- 11.Economic Growth -- The Concept of Economic Growth -- What Is Economic Growth? -- The Rate of Growth -- |
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Contents note continued: Short-Run Fluctuations in Economic Growth -- What Are Business Cycles? -- Theories of the Business Cycle -- The Determinants of Economic Growth -- Availability of Economic Resources -- Productivity Factors -- The Recent Slowdown in Growth -- Contributing Factors -- The 2001 Recession -- The 2007-2009 Great Recession -- Where Do We Go from Here? -- Summary -- 12.Money, Banking, and the Financial System -- What Are Banks? -- Commercial Banks -- Financial Institutions and Insurance Companies -- What Is Money? -- Functions of Money -- The Money Supply (M1 and M2) in the United States -- The Process of Creating Money -- Commercial Banks and Other Depository Institutions -- Banking Regulation -- Balance Sheet of a Bank -- The Fractional Reserve Banking System -- Demand Deposit Creation -- The Issue of Control -- The Federal Reserve System -- Monetary Policy and Federal Reserve Controls -- Federal Reserve Targets -- |
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Contents note continued: The Money Supply, Interest Rates, and the Price Level -- Interest Rates -- Quantity Theory of Money -- The Financial Crisis of 2008 -- The Home Real Estate Market -- Financial Instruments and Accounting Rules -- Fall 2008 -- Quantitative Easing -- New Regulations: The Dodd-Frank Act -- The Future -- Summary -- 13.Unemployment and Inflation -- What Is Unemployment? -- The Labor Force -- Unemployment in a Market Economy -- Analysis of the Unemployment Problem -- Types of Unemployment -- Further Dimensions of the Unemployment Problem -- What Is Inflation? -- How Is Inflation Measured? -- Rate of Inflation -- Economic Effects of Inflation -- Equity Effects -- Efficiency Effects -- Output Effects -- Economic Analysis of Unemployment and Inflation -- Circular Flow of Economic Activity -- Aggregate Demand -- Aggregate Supply -- Aggregate Demand and Supply -- Reasons for Deficient Aggregate Demand -- Reasons for Weak Aggregate Supply -- |
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Contents note continued: Possible Trade-Offs and Policy Options -- The Phillips Curve -- Policy Problems -- The Great Recession -- Summary -- 14.Government Spending, Taxation, and the National Debt -- What Are People Afraid Of? -- Size of Government -- Tax Inequities -- The Problem of Size -- Government Expenditures -- Government Receipts -- Economic Analysis of the Problem of Size -- An Efficient Level of Government Expenditures -- Public Goods -- External Benefits and Costs -- Income Distribution -- Summary -- Tax Principles and Analysis -- Tax Equity -- Ability-to-Pay Principle -- Benefits-Received Principle -- Tax Efficiency -- Principles of Shifting and Incidence -- The American Tax System -- Federal Tax System -- The Personal Income Tax -- The Beginning of a New Century -- Economic Effects of Government Borrowing -- Economic Effects of Federal Debt Retirement -- Recent Tax Reforms -- The Financial Crisis of 2008 -- Summary -- 15.Social Security and Medicare -- |
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Contents note continued: Social Insurance -- Social Security -- A Brief History of Social Security -- The Current Status of Social Security -- The Economic Effects of Social Security -- Income -- Labor Supply -- Saving and Investment -- The Future of Social Security -- The Financial Dilemma -- Possible Solutions -- The Market for Health Care: A Brief Overview -- The Nation's Health Dollar: Where It Came From and Where It Went -- Health Expenditure Growth -- Government Role in Health Care Financing -- The Decline in Importance of Private Health Insurance -- The Medicare Program -- Coverage -- Financing -- Provider Payments -- The Economic Effects of Medicare -- The Future of Medicare -- The Financial Dilemma -- Possible Solutions -- The Medicare Modernization Act -- Summary |
| Bibliography |
Includes bibliographical references and index |
| Subject |
Economics.
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Social problems.
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| Author |
Register, Charles A., author
|
|
Grimes, Paul W., author
|
| LC no. |
2012027842 |
| ISBN |
9780073523248 |
|
0073523240 |
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