Includes index

Economics: principles, problems, and policies. The production possibilities curve -- The circular flow diagram -- Equilibrium price and quantity -- Trading possibilities lines and the gains from trade -- The market for foreign currency (pounds) -- Total and marginal utility -- The law of diminishing returns -- The relationship of the marginal - cost curve:unlimited number of plant sizes -- Short -run profit maximization for a purely competitive firm -- The p=mc rule and the competitive firms short -run supply curve -- Long -run Equilibrium :a competitive firm and market -- Profit maximization by a pure monopolist -- A monopolistically competitive firm :short run and long run -- The kinked -demand curve -- Labor supply and labor demand in (a) a purely competitive labor market and (b) a single competitive firm -- (a) consumption and (b) saving schedules -- The investment demand curve -- Equilibrium GDP in a private closed economy -- Recessionary and inflationary expenditure gaps -- The equilibrium price level and equilibrium real GDP -- The demand for money ,the supply of money, and the equilibrium interest rate -- Monetary policy and equilibrium GDP.