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Macroeconomics Canadian 2nd Edition Hubbard Solutions Manual

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Macroeconomics Canadian 2nd Edition Hubbard Solutions Manual.

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Macroeconomics Canadian 2nd Edition Hubbard Solutions Manual

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ISBN-10 ‏ : ‎ 013443126X
ISBN-13 ‏ : ‎ 978-0134431260
Author: Glenn Hubbard, Tony O’Brien

By building from the specific example to the general case this text fosters student engagement. It delivers complete economics coverage using many fresh, lively, real-world examples from newspapers, magazines, Web sites, and professional journals from around the world.

Table contents:

Part 1 Introduction
Chapter 1 Economics: Foundations and Models
Introduction: Economics: Foundations and Models
1.1 Three Key Economic Ideas
1.2 The Economic Problems All Societies Must Solve
The Modern Mixed Economy
1.3 Economic Models
Positive and Normative Analysis
1.4 Microeconomics and Macroeconomics
1.5 The Language of Economics
Economics in Your Life and Career
Chapter Key Terms
Chapter Summary and Problems
Summary and Problems 1.2
Summary and Problems 1.3
Summary and Problems 1.4
Summary and Problems 1.5
Critical Thinking Exercises
Appendix: Using Graphs and Formulas
Slopes of Lines
Determining Cause and Effect
Formulas
Problems and Applications
Chapter 2 Trade-offs, Comparative Advantage, and the Market System
Introduction: Trade-offs, Comparative Advantage, and the Market System
2.1 Production Possibilities Frontiers and Opportunity Costs
Apply the Concept: Facing the Trade-offs of Health Care Spending
2.2 Comparative Advantage and Trade
Absolute Advantage versus Comparative Advantage
2.3 The Market System
The Gains from Free Markets
Economics in Your Life and Career
Chapter Key Terms
Chapter Summary and Problems
Summary and Problems 2.2
Summary and Problems 2.3
Critical Thinking Exercises
Chapter 3 Where Prices Come From: The Interaction of Supply and Demand
Introduction: Where Prices Come From: The Interaction of Supply and Demand
3.1 The Demand Side of the Market
Variables that Shift Market Demand
Apply the Concept: Millennials Shake Up the Markets for Soda, Groceries, Big Macs, and Running Shoes
3.2 The Supply Side of the Market
Variables That Shift Market Supply
A Change in Supply versus a Change in Quantity Supplied
3.3 Market Equilibrium: Putting Buyers and Sellers Together
Demand and Supply Both Count
3.4 The Effect of Demand and Supply Shifts on Equilibrium
The Effect of Shifts in Demand and Supply over Time
Don’t Let This Happen to You
Economics in Your Life and Career
Chapter Key Terms
Chapter Summary and Problems
Summary and Problems 3.2
Summary and Problems 3.3
Summary and Problems 3.4
Critical Thinking Exercises
Appendix: Quantitative Demand and Supply Analysis
Problems and Applications
An Inside Look: Tim Hortons Launches Kids’ Menu in Push to Return to Its Roots
Part 2 Macroeconomic Foundations and Long-Run Growth
Chapter 4 GDP: Measuring Total Production and Income
Introduction: Measuring Total Production and Income
4.1 Gross Domestic Product Measures Total Production
Production, Income, and the Circular-Flow Diagram
Measuring GDP
Statistical Discrepancy
Measuring GDP Using the Value-Added Method
4.2 Does GDP Measure What We Want It to Measure?
Apply the Concept: GDP and Happiness
4.3 Real GDP versus Nominal GDP
Comparing Real GDP and Nominal GDP
4.4 Other Measures of Total Production and Total Income
Economics in Your Life and Career
Chapter Key Terms
Chapter Summary and Problems
Summary and Problems 4.2
Summary and Problems 4.3
Summary and Problems 4.4
Critical Thinking Exercises
Chapter 5 Unemployment and Inflation
Introduction: Unemployment and Inflation
5.1 Measuring the Unemployment Rate and the Labour Force Participation Rate
Problems with Measuring the Unemployment Rate
5.2 Types of Unemployment
5.3 Explaining Unemployment
Efficiency Wages
5.4 Measuring Inflation
Is the CPI Accurate?
5.5 Using Price Indexes to Adjust for the Effects of Inflation
5.6 Real versus Nominal Interest Rates
5.7 Does Inflation Impose Costs on the Economy?
Economics in Your Life and Career
Chapter Key Terms
Chapter Summary and Problems
Summary and Problems 5.2
Summary and Problems 5.3
Summary and Problems 5.4
Summary and Problems 5.5
Summary and Problems 5.6
Summary and Problems 5.7
Critical Thinking Exercises
Chapter 6 Economic Growth, the Financial System, and Business Cycles
Introduction: Economic Growth, the Financial System, and Business Cycles
6.1 Long-Run Economic Growth
Calculating Growth Rates and the Rule of 70
Apply the Concept: Can India Sustain Its Rapid Growth?
6.2 Saving, Investment, and the Financial System
The Macroeconomics of Saving and Investment
Solved Problem 6.1
6.3 The Business Cycle
Don’t Let This Happen to You
Economics in Your Life and Career
Chapter Key Terms
Chapter Summary and Problems
Summary and Problems 6.2
Summary and Problems 6.3
Critical Thinking Exercises
Chapter 7 Long-Run Economic Growth: Sources and Policies
Introduction: Long-Run Economic Growth: Sources and Policies
7.1 Economic Growth over Time and around the World
Small Differences in Growth Rates Are Important
“The Rich Get Richer and…”
7.2 What Determines How Fast Economies Grow?
Which Is More Important for Economic Growth: More Capital or Technological Change?
Solved Problem 7.1
7.3 Economic Growth in Canada
Is Canada Headed for a Long Period of Slow Growth?
7.4 Why Isn’t the Whole World Rich?
Solved Problem 7.2
Why Don’t More Low-Income Countries Experience Rapid Growth?
The Benefits of Globalization
7.5 Growth Policies
Improving Health and Education
Is Economic Growth Good or Bad?
Economics in Your Life and Career
Chapter Key Terms
Chapter Summary and Problems
Summary and Problems 7.2
Summary and Problems 7.3
Summary and Problems 7.4
Summary and Problems 7.5
Critical Thinking Exercises
An Inside Look: The Worries about China’s Slowing Growth
Part 3 Short-Run Fluctuations
Chapter 8 Aggregate Expenditure and Output in the Short Run
Introduction: Aggregate Expenditure and Output in the Short Run
8.1 The Aggregate Expenditure Model
Macroeconomic Equilibrium
8.2 Determining the Level of Aggregate Expenditure in the Economy
Apply the Concept: Do Changes in Consumer Confidence Affect Consumption Spending?
The Relationship between Consumption and National Income
Solved Problem 8.1
Planned Investment
Government Purchases
8.3 Graphing Macroeconomic Equilibrium
Showing a Recession on the 45°-Line Diagram
8.4 The Multiplier Effect
A Formula for the Multiplier
Solved Problem 8.2
8.5 The Aggregate Demand Curve
Economics in Your Life and Career
Chapter Key Terms
Chapter Summary and Problems
Summary and Problems 8.2
Summary and Problems 8.3
Summary and Problems 8.4
Summary and Problems 8.5
Critical Thinking Exercises
Appendix: The Algebra of Macroeconomic Equilibrium
Review Questions
Chapter 9 Aggregate Demand and Aggregate Supply Analysis
Introduction: Aggregate Demand and Aggregate Supply Analysis
9.1 Aggregate Demand
Shifts of the Aggregate Demand Curve versus Movements along It
Apply the Concept: Canada’s Mini Recession
Solved Problem 9.1
9.2 Aggregate Supply
Shifts of the Short-Run Aggregate Supply Curve versus Movements along It
9.3 Macroeconomic Equilibrium in the Long Run and the Short Run
Expansion The Short-Run Effect of an Increase in Aggregate Demand
9.4 A Dynamic Aggregate Demand and Aggregate Supply Model
What Is the Usual Cause of Inflation?
Economics in Your Life and Career
Chapter Key Terms
Chapter Summary and Problems
Summary and Problems 9.2
Summary and Problems 9.3
Summary and Problems 9.4
Critical Thinking Exercises
Appendix: Macroeconomic Schools of Thought
The New Classical Model
The Real Business Cycle Model
An Inside Look: CIBC downgrades its 2016 Canadian economic outlook for the second time in a month
Part 4 Monetary and Fiscal Policy
Chapter 10 Money, Banks, and the Bank of Canada
Introduction: Money, Banks, and the Bank of Canada
10.1 What Is Money, and Why Do We Need It?
What Can Serve as Money?
10.2 How Is Money Measured in Canada Today?
Apply the Concept: Are Bitcoins Money?
10.3 How Do Banks Create Money?
Using T-Accounts to Show How a Bank Can Create Money
The Simple Deposit Multiplier
Solved Problem 10.2
10.4 The Bank of Canada
The Bank of Canada’s Operating Band for the Overnight Interest Rate
The Bank of Canada’s Approach to Monetary Policy
10.5 The Quantity Theory of Money
How Accurate Are Estimates of Inflation Based on the Quantity Theory?
Economics in Your Life and Career
Chapter Key Terms
Chapter Summary and Problems
Summary and Problems 10.2
Summary and Problems 10.3
Summary and Problems 10.4
Summary and Problems 10.5
Critical Thinking Exercises
Chapter 11 Monetary Policy
Introduction: Trade-offs, Comparative Advantage, and the Market System
11.1 What Is Monetary Policy?
11.2 The Money Market and the Bank of Canada’s Choice of Monetary Policy Targets
How the Bank of Canada Manages the Money Supply: A Quick Review
Choosing a Monetary Policy Target
11.3 Monetary Policy and Economic Activity
The Effects of Monetary Policy on Real GDP and the Price Level
Can the Bank of Canada Eliminate Recessions?
11.4 Monetary Policy in the Dynamic Aggregate Demand and Aggregate Supply Model
Using Monetary Policy to Fight Inflation
11.5 A Closer Look at the Bank of Canada’s Setting of Monetary Policy Targets
The Taylor Rule
11.6 Central Bank Policies during the 2007–2009 Global Financial Crisis
The Changing Mortgage Market in the United States
Economics in Your Life and Career
Chapter Key Terms
Chapter Summary and Problems
Summary and Problems 11.2
Summary and Problems 11.3
Summary and Problems 11.4
Summary and Problems 11.5
Summary and Problems 11.6
Critical Thinking Exercises
Chapter 12 Fiscal Policy
Introduction: Fiscal Policy
12.1 What Is Fiscal Policy?
Where Does the Money Go?
Apply the Concept The Exploding Costs of Health Care
12.2 The Effects of Fiscal Policy on Real GDP and the Price Level
12.3 Fiscal Policy in the Dynamic Aggregate Demand and Aggregate Supply Model
12.4 Government Purchases and Tax Multipliers
The Effect of Changes in Tax Rates
Solved Problem 12.1
12.5 The Limits of Fiscal Policy as a Stimulus
Crowding Out in the Long Run
12.6 Deficits, Surpluses, and Federal Government Debt
Solved Problem 12.2
12.7 The Effects of Fiscal Policy in the Long Run
The Economic Effect of Tax Reform
Economics in Your Life and Career
Chapter Key Terms
Chapter Summary and Problems
Summary and Problems 12.2
Summary and Problems 12.3
Summary and Problems 12.4
Summary and Problems 12.5
Summary and Problems 12.6
Summary and Problems 12.7
Critical Thinking Exercises
Appendix: A Closer Look at the Multiplier Formula
A Formula for the Government Purchases Multiplier
The “Balanced Budget” Multiplier
The Multiplier in an Open Economy
Problems and Applications
Chapter 13 Inflation, Unemployment, and Bank of Canada Policy
Introduction: Inflation, Unemployment, and Bank of Canada Policy
13.1 The Discovery of the Short-Run Trade-off between Unemployment and Inflation
Is the Short-Run Phillips Curve Stable?
13.2 The Short-Run and Long-Run Phillips Curves
How Does a Vertical Long-Run Phillips Curve Affect Monetary Policy?
Solved Problem 13.1
13.3 Expectations of the Inflation Rate and Monetary Policy
Is the Short-Run Phillips Curve Really Vertical?
13.4 Bank of Canada Policy from the 1970s to the Present
Inflation Targeting, 1989–Present
The 2007–2009 Global Recession and the Crisis in Monetary Policy
Economics in Your Life and Career
Chapter Key Terms
Chapter Summary and Problems
Summary and Problems 13.2
Summary and Problems 13.3
Summary and Problems 13.4
Critical Thinking Exercises
Part 5 The International Economy
Chapter 14 Macroeconomics in an Open Economy
Introduction: Macroeconomics in an Open Economy
14.1 The Balance of Payments: Linking Canada to the International Economy
The Financial Account
Solved Problem 14.1
14.2 The Foreign Exchange Market and Exchange Rates
How Do Shifts in Demand and Supply Affect the Exchange Rate?
Some Exchange Rates Are Not Determined by the Market
14.3 The International Sector and National Saving and Investment
Solved Problem 14.3
14.4 The Effect of a Government Budget Deficit on Investment
14.5 Monetary Policy and Fiscal Policy in an Open Economy
Economics in Your Life and Career
Chapter Key Terms
Chapter Summary and Problems
Summary and Problems 14.2
Summary and Problems 14.3
Summary and Problems 14.4
Summary and Problems 14.5
Critical Thinking Exercises
An Inside Look: U.S. short sellers betting on Canadian housing crash: ‘An accident waiting to happen’
Chapter 15 The International Financial System
Introduction: The International Financial System
15.1 Exchange Rate Systems
15.2 The Current Exchange Rate System
Apply the Concept: The Big Mac Theory of Exchange Rates
The Euro
Pegging against the US Dollar
15.3 International Capital Markets
Economics in Your Life and Career
Chapter Key Terms
Chapter Summary and Problems
Summary and Problems 15.2
Summary and Problems 15.3
Critical Thinking Exercises
An Inside Look: Four ways the Fed’s rate hike will affect our lives up north
Glossary