By Robert L. Sexton
EXPLORING MACROECONOMICS, 5th variation, used to be designed particularly to advertise macroeconomic literacy and support scholars delight in how macroeconomics impacts their daily lives. This enticing textual content combines cutting edge studying instruments, a visually attractive layout, and eye-catching content material to aid scholars simply take up info and grasp key thoughts. full of examples from present occasions and pa tradition, EXPLORING MACROECONOMICS succeeds like no different publication in conveying the thrill and real-world relevance of macroeconomics.
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Extra info for Exploring Macroeconomics (Fifth Edition)
Among high school students, the average grade was 48 percent. I M Almost two-thirds of those tested did not know that in times of inflation, money does not hold its value. M Only 58 percent of the students understood that when the demand for a product goes up but the supply doesn’t, its price is likely to increase. M Half of the adults and about two-thirds of the students didn’t know that the stock market brings people who want to buy stocks together with those who want to sell them. be able to set a price for them.
Or studying harder to get a better grade in a class that is graded on a curve—what if everyone studied harder? These are all examples of the fallacy of composition. 16 PART 1 Introduction SECTION CHECK 1. The fact that two events are related does not mean that one caused the other to occur. 2. What is true for the individual is not necessarily true for the group. 1. What is the relationship between correlation and causation? 2. What types of misinterpretation result from confusing correlation and causation?
Consumers must make choices on what to buy, how much to save, and how much to invest of their he tools of economics are far reachlimited incomes. Workers must decide economics ing. In fact, other social scienwhat types of jobs they want, when to the study of choices we tists have accused economists of being enter the workforce, where they will make among our many wants and desires given our imperialistic because their tools have work, and number of hours they wish to limited resources been used in so many fields outside the work.