Unit One 1
Text 1
The Goals of Macroeconomics 1
Word Study 9
Exercises 11
Reading Practice:An Economic Role For Government 17
Unit Two 24
Text 24
Aggregate Supply and Aggregate Demand in Macroeconomics 24
Aggregate Supply 24
Aggregate Demand 27
Shifts in Aggregate Demand 29
Word Study 32
Exercises 34
Reading Practice:The Classical and Keynesian Models 42
Unit Three 49
Text 49
Money and Banking 49
Money 49
Banks 51
Interest Rate 52
The Federal Budget Deficit 54
Word Study 59
Exercises 62
Reading Practice:Key Financial Markets 68
The Burden of Government Borrowing 74
The Problem of the Twin Deficits 74
Unit Four 74
Text 74
The Trade Deficit 77
Word Study 82
Exercises 84
Reading Practice:The Debt Monster:Reality and Myths 91
Unit Five 98
Text 98
Costs and Benefits of Inflation 98
Shoe-leather Costs 98
Tax Distortions 99
Inflation Variability 100
Money Illusion 100
Seignorage 101
The Option of Negative Real Interest Rates 102
Money Illusion Revisited 103
Word Study 106
Exercises 108
Reading Practice:How Do Hyperinflations End? 115
Unit Six 122
Text 122
Unemployment 122
The Rate of Job Loss 123
Rate of Job Finding 125
Unemployment during the Recession of the Early 1990s 127
Word Study 131
Exercises 132
Reading Practice:Forms of Unemployment and Its Side Effects 138
Unit Seven 145
Text 145
Insurance 145
Word Study 153
Exercises 155
Reading Practice:Risk Financing Techniques for the Multinational Corporation 162
Industry Arguments for Protection 168
Protection 168
Text 168
Unit Eight 168
Protectionism,1980s Style 171
Word Study 177
Exercises 179
Reading Practice:International Trade 186
Unit Nine 192
Text 192
Characteristics of a Good Tax System 192
Word Study 200
Exercises 202
Reading Practice:Tax Revenues 208
Increases in the Accumulation of Capital Goods 215
The Sources of Productivity Growth 215
Text 215
Unit Ten 215
Higher Quality of the Labor Force 217
Reallocating Resources 218
Technological Change 219
Word Study 224
Exercises 226
Reading Practice:The Determinants of Technological Progress 232
Unit Eleven 240
Text 240
Information Gathering and Price Dispersion 240
Information Problems Word Study 248
Exercises 250
Reading Practice:Advertising 257
Unit Twelve 264
Text 264
The Nature of Fluctuations in Economic Activity 264
The Traditional Business—Cycle View 264
The Real Business—Cycle View 266
Monetarist and New Classical Views 267
New Keynesian Views 268
Word Study 273
Exercises 275
Reading Practice:Keynesians Versus Monetarists 282
Appendix Ⅰ 模拟试题二份 287
Appendix Ⅱ 词汇表 336
Appendix Ⅲ 参考书目 357