Macroeconomics Canadian 2nd Edition Hubbard Solutions Manual

1. Part 1 Introduction
2. Chapter 1 Economics: Foundations and Models
3. Introduction: Economics: Foundations and Models
4. 1.1 Three Key Economic Ideas
5. 1.2 The Economic Problems All Societies Must Solve
6. The Modern Mixed Economy
7. 1.3 Economic Models
8. Positive and Normative Analysis
9. 1.4 Microeconomics and Macroeconomics
10. 1.5 The Language of Economics
11. Economics in Your Life and Career
12. Chapter Key Terms
13. Chapter Summary and Problems
14. Summary and Problems 1.2
15. Summary and Problems 1.3
16. Summary and Problems 1.4
17. Summary and Problems 1.5
18. Critical Thinking Exercises
19. Appendix: Using Graphs and Formulas
20. Slopes of Lines
21. Determining Cause and Effect
22. Formulas
23. Problems and Applications
24. Chapter 2 Trade-offs, Comparative Advantage, and the Market System
25. Introduction: Trade-offs, Comparative Advantage, and the Market System
26. 2.1 Production Possibilities Frontiers and Opportunity Costs
27. Apply the Concept: Facing the Trade-offs of Health Care Spending
28. 2.2 Comparative Advantage and Trade
29. Absolute Advantage versus Comparative Advantage
30. 2.3 The Market System
31. The Gains from Free Markets
32. Economics in Your Life and Career
33. Chapter Key Terms
34. Chapter Summary and Problems
35. Summary and Problems 2.2
36. Summary and Problems 2.3
37. Critical Thinking Exercises
38. Chapter 3 Where Prices Come From: The Interaction of Supply and Demand
39. Introduction: Where Prices Come From: The Interaction of Supply and Demand
40. 3.1 The Demand Side of the Market
41. Variables that Shift Market Demand
42. Apply the Concept: Millennials Shake Up the Markets for Soda, Groceries, Big Macs, and Running Shoes
43. 3.2 The Supply Side of the Market
44. Variables That Shift Market Supply
45. A Change in Supply versus a Change in Quantity Supplied
46. 3.3 Market Equilibrium: Putting Buyers and Sellers Together
47. Demand and Supply Both Count
48. 3.4 The Effect of Demand and Supply Shifts on Equilibrium
49. The Effect of Shifts in Demand and Supply over Time
50. Don’t Let This Happen to You
51. Economics in Your Life and Career
52. Chapter Key Terms
53. Chapter Summary and Problems
54. Summary and Problems 3.2
55. Summary and Problems 3.3
56. Summary and Problems 3.4
57. Critical Thinking Exercises
58. Appendix: Quantitative Demand and Supply Analysis
59. Problems and Applications
60. An Inside Look: Tim Hortons Launches Kids’ Menu in Push to Return to Its Roots
61. Part 2 Macroeconomic Foundations and Long-Run Growth
62. Chapter 4 GDP: Measuring Total Production and Income
63. Introduction: Measuring Total Production and Income
64. 4.1 Gross Domestic Product Measures Total Production
65. Production, Income, and the Circular-Flow Diagram
66. Measuring GDP
67. Statistical Discrepancy
68. Measuring GDP Using the Value-Added Method
69. 4.2 Does GDP Measure What We Want It to Measure?
70. Apply the Concept: GDP and Happiness
71. 4.3 Real GDP versus Nominal GDP
72. Comparing Real GDP and Nominal GDP
73. 4.4 Other Measures of Total Production and Total Income
74. Economics in Your Life and Career
75. Chapter Key Terms
76. Chapter Summary and Problems
77. Summary and Problems 4.2
78. Summary and Problems 4.3
79. Summary and Problems 4.4
80. Critical Thinking Exercises
81. Chapter 5 Unemployment and Inflation
82. Introduction: Unemployment and Inflation
83. 5.1 Measuring the Unemployment Rate and the Labour Force Participation Rate
84. Problems with Measuring the Unemployment Rate
85. 5.2 Types of Unemployment
86. 5.3 Explaining Unemployment
87. Efficiency Wages
88. 5.4 Measuring Inflation
89. Is the CPI Accurate?
90. 5.5 Using Price Indexes to Adjust for the Effects of Inflation
91. 5.6 Real versus Nominal Interest Rates
92. 5.7 Does Inflation Impose Costs on the Economy?
93. Economics in Your Life and Career
94. Chapter Key Terms
95. Chapter Summary and Problems
96. Summary and Problems 5.2
97. Summary and Problems 5.3
98. Summary and Problems 5.4
99. Summary and Problems 5.5
100. Summary and Problems 5.6
101. Summary and Problems 5.7
102. Critical Thinking Exercises
103. Chapter 6 Economic Growth, the Financial System, and Business Cycles
104. Introduction: Economic Growth, the Financial System, and Business Cycles
105. 6.1 Long-Run Economic Growth
106. Calculating Growth Rates and the Rule of 70
107. Apply the Concept: Can India Sustain Its Rapid Growth?
108. 6.2 Saving, Investment, and the Financial System
109. The Macroeconomics of Saving and Investment
110. Solved Problem 6.1
111. 6.3 The Business Cycle
112. Don’t Let This Happen to You
113. Economics in Your Life and Career
114. Chapter Key Terms
115. Chapter Summary and Problems
116. Summary and Problems 6.2
117. Summary and Problems 6.3
118. Critical Thinking Exercises
119. Chapter 7 Long-Run Economic Growth: Sources and Policies
120. Introduction: Long-Run Economic Growth: Sources and Policies
121. 7.1 Economic Growth over Time and around the World
122. Small Differences in Growth Rates Are Important
123. “The Rich Get Richer and…”
124. 7.2 What Determines How Fast Economies Grow?
125. Which Is More Important for Economic Growth: More Capital or Technological Change?
126. Solved Problem 7.1
127. 7.3 Economic Growth in Canada
128. Is Canada Headed for a Long Period of Slow Growth?
129. 7.4 Why Isn’t the Whole World Rich?
130. Solved Problem 7.2
131. Why Don’t More Low-Income Countries Experience Rapid Growth?
132. The Benefits of Globalization
133. 7.5 Growth Policies
134. Improving Health and Education
135. Is Economic Growth Good or Bad?
136. Economics in Your Life and Career
137. Chapter Key Terms
138. Chapter Summary and Problems
139. Summary and Problems 7.2
140. Summary and Problems 7.3
141. Summary and Problems 7.4
142. Summary and Problems 7.5
143. Critical Thinking Exercises
144. An Inside Look: The Worries about China’s Slowing Growth
145. Part 3 Short-Run Fluctuations
146. Chapter 8 Aggregate Expenditure and Output in the Short Run
147. Introduction: Aggregate Expenditure and Output in the Short Run
148. 8.1 The Aggregate Expenditure Model
149. Macroeconomic Equilibrium
150. 8.2 Determining the Level of Aggregate Expenditure in the Economy
151. Apply the Concept: Do Changes in Consumer Confidence Affect Consumption Spending?
152. The Relationship between Consumption and National Income
153. Solved Problem 8.1
154. Planned Investment
155. Government Purchases
156. 8.3 Graphing Macroeconomic Equilibrium
157. Showing a Recession on the 45°-Line Diagram
158. 8.4 The Multiplier Effect
159. A Formula for the Multiplier
160. Solved Problem 8.2
161. 8.5 The Aggregate Demand Curve
162. Economics in Your Life and Career
163. Chapter Key Terms
164. Chapter Summary and Problems
165. Summary and Problems 8.2
166. Summary and Problems 8.3
167. Summary and Problems 8.4
168. Summary and Problems 8.5
169. Critical Thinking Exercises
170. Appendix: The Algebra of Macroeconomic Equilibrium
171. Review Questions
172. Chapter 9 Aggregate Demand and Aggregate Supply Analysis
173. Introduction: Aggregate Demand and Aggregate Supply Analysis
174. 9.1 Aggregate Demand
175. Shifts of the Aggregate Demand Curve versus Movements along It
176. Apply the Concept: Canada’s Mini Recession
177. Solved Problem 9.1
178. 9.2 Aggregate Supply
179. Shifts of the Short-Run Aggregate Supply Curve versus Movements along It
180. 9.3 Macroeconomic Equilibrium in the Long Run and the Short Run
181. Expansion The Short-Run Effect of an Increase in Aggregate Demand
182. 9.4 A Dynamic Aggregate Demand and Aggregate Supply Model
183. What Is the Usual Cause of Inflation?
184. Economics in Your Life and Career
185. Chapter Key Terms
186. Chapter Summary and Problems
187. Summary and Problems 9.2
188. Summary and Problems 9.3
189. Summary and Problems 9.4
190. Critical Thinking Exercises
191. Appendix: Macroeconomic Schools of Thought
192. The New Classical Model
193. The Real Business Cycle Model
194. An Inside Look: CIBC downgrades its 2016 Canadian economic outlook for the second time in a month
195. Part 4 Monetary and Fiscal Policy
196. Chapter 10 Money, Banks, and the Bank of Canada
197. Introduction: Money, Banks, and the Bank of Canada
198. 10.1 What Is Money, and Why Do We Need It?
199. What Can Serve as Money?
200. 10.2 How Is Money Measured in Canada Today?
201. Apply the Concept: Are Bitcoins Money?
202. 10.3 How Do Banks Create Money?
203. Using T-Accounts to Show How a Bank Can Create Money
204. The Simple Deposit Multiplier
205. Solved Problem 10.2
206. 10.4 The Bank of Canada
207. The Bank of Canada’s Operating Band for the Overnight Interest Rate
208. The Bank of Canada’s Approach to Monetary Policy
209. 10.5 The Quantity Theory of Money
210. How Accurate Are Estimates of Inflation Based on the Quantity Theory?
211. Economics in Your Life and Career
212. Chapter Key Terms
213. Chapter Summary and Problems
214. Summary and Problems 10.2
215. Summary and Problems 10.3
216. Summary and Problems 10.4
217. Summary and Problems 10.5
218. Critical Thinking Exercises
219. Chapter 11 Monetary Policy
220. Introduction: Trade-offs, Comparative Advantage, and the Market System
221. 11.1 What Is Monetary Policy?
222. 11.2 The Money Market and the Bank of Canada’s Choice of Monetary Policy Targets
223. How the Bank of Canada Manages the Money Supply: A Quick Review
224. Choosing a Monetary Policy Target
225. 11.3 Monetary Policy and Economic Activity
226. The Effects of Monetary Policy on Real GDP and the Price Level
227. Can the Bank of Canada Eliminate Recessions?
228. 11.4 Monetary Policy in the Dynamic Aggregate Demand and Aggregate Supply Model
229. Using Monetary Policy to Fight Inflation
230. 11.5 A Closer Look at the Bank of Canada’s Setting of Monetary Policy Targets
231. The Taylor Rule
232. 11.6 Central Bank Policies during the 2007–2009 Global Financial Crisis
233. The Changing Mortgage Market in the United States
234. Economics in Your Life and Career
235. Chapter Key Terms
236. Chapter Summary and Problems
237. Summary and Problems 11.2
238. Summary and Problems 11.3
239. Summary and Problems 11.4
240. Summary and Problems 11.5
241. Summary and Problems 11.6
242. Critical Thinking Exercises
243. Chapter 12 Fiscal Policy
244. Introduction: Fiscal Policy
245. 12.1 What Is Fiscal Policy?
246. Where Does the Money Go?
247. Apply the Concept The Exploding Costs of Health Care
248. 12.2 The Effects of Fiscal Policy on Real GDP and the Price Level
249. 12.3 Fiscal Policy in the Dynamic Aggregate Demand and Aggregate Supply Model
250. 12.4 Government Purchases and Tax Multipliers
251. The Effect of Changes in Tax Rates
252. Solved Problem 12.1
253. 12.5 The Limits of Fiscal Policy as a Stimulus
254. Crowding Out in the Long Run
255. 12.6 Deficits, Surpluses, and Federal Government Debt
256. Solved Problem 12.2
257. 12.7 The Effects of Fiscal Policy in the Long Run
258. The Economic Effect of Tax Reform
259. Economics in Your Life and Career
260. Chapter Key Terms
261. Chapter Summary and Problems
262. Summary and Problems 12.2
263. Summary and Problems 12.3
264. Summary and Problems 12.4
265. Summary and Problems 12.5
266. Summary and Problems 12.6
267. Summary and Problems 12.7
268. Critical Thinking Exercises
269. Appendix: A Closer Look at the Multiplier Formula
270. A Formula for the Government Purchases Multiplier
271. The “Balanced Budget” Multiplier
272. The Multiplier in an Open Economy
273. Problems and Applications
274. Chapter 13 Inflation, Unemployment, and Bank of Canada Policy
275. Introduction: Inflation, Unemployment, and Bank of Canada Policy
276. 13.1 The Discovery of the Short-Run Trade-off between Unemployment and Inflation
277. Is the Short-Run Phillips Curve Stable?
278. 13.2 The Short-Run and Long-Run Phillips Curves
279. How Does a Vertical Long-Run Phillips Curve Affect Monetary Policy?
280. Solved Problem 13.1
281. 13.3 Expectations of the Inflation Rate and Monetary Policy
282. Is the Short-Run Phillips Curve Really Vertical?
283. 13.4 Bank of Canada Policy from the 1970s to the Present
284. Inflation Targeting, 1989–Present
285. The 2007–2009 Global Recession and the Crisis in Monetary Policy
286. Economics in Your Life and Career
287. Chapter Key Terms
288. Chapter Summary and Problems
289. Summary and Problems 13.2
290. Summary and Problems 13.3
291. Summary and Problems 13.4
292. Critical Thinking Exercises
293. Part 5 The International Economy
294. Chapter 14 Macroeconomics in an Open Economy
295. Introduction: Macroeconomics in an Open Economy
296. 14.1 The Balance of Payments: Linking Canada to the International Economy
297. The Financial Account
298. Solved Problem 14.1
299. 14.2 The Foreign Exchange Market and Exchange Rates
300. How Do Shifts in Demand and Supply Affect the Exchange Rate?
301. Some Exchange Rates Are Not Determined by the Market
302. 14.3 The International Sector and National Saving and Investment
303. Solved Problem 14.3
304. 14.4 The Effect of a Government Budget Deficit on Investment
305. 14.5 Monetary Policy and Fiscal Policy in an Open Economy
306. Economics in Your Life and Career
307. Chapter Key Terms
308. Chapter Summary and Problems
309. Summary and Problems 14.2
310. Summary and Problems 14.3
311. Summary and Problems 14.4
312. Summary and Problems 14.5
313. Critical Thinking Exercises
314. An Inside Look: U.S. short sellers betting on Canadian housing crash: ‘An accident waiting to happen’
315. Chapter 15 The International Financial System
316. Introduction: The International Financial System
317. 15.1 Exchange Rate Systems
318. 15.2 The Current Exchange Rate System
319. Apply the Concept: The Big Mac Theory of Exchange Rates
320. The Euro
321. Pegging against the US Dollar
322. 15.3 International Capital Markets
323. Economics in Your Life and Career
324. Chapter Key Terms
325. Chapter Summary and Problems
326. Summary and Problems 15.2
327. Summary and Problems 15.3
328. Critical Thinking Exercises
329. An Inside Look: Four ways the Fed’s rate hike will affect our lives up north
330. Glossary

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