Essay Instructions: We will pay $175.00 for this order!!
im taking macroeconomics and we are using text book "Macroeconomics by mcconnell brue flynn 18th edition"
and these are the specification the proffessor gave us
Term Paper: This is to be a research paper, not an essay. It must take as it topic one subject from one chapter of the textbook. It must state a research question, present the findings of research conducted (including the citation of sources), and list the sources at end. It should be 5 to 10 pages, cite 5 to 10 sources. It must cite at least 3 sources from professional or academic journals retrieved from the online library resources. A sample can be viewed from the term paper announcement on our course website. Use the MLA style. Any term paper containing material without proper citation will receive a score of zero (0). All term papers must be typed.
heres chapters summary
chapter 1
Limits, Alternatives, and Choices
In this chapter you will learn:
The definition of economics and the features of the economic perspective.
The role of economic theory in economics.
The distinction between microeconomics and macroeconomics.
The categories of scarce resources and the nature of the economizing problem.
About production possibilities analysis, increasing opportunity costs, and economic growth.
chapter 2
The Market System and the Circular Flow
In this chapter you will learn:
The difference between a command system and a market system.
The main characteristics of the market system.
How the market system decides what to produce, how to produce it, and who obtains it.
How the market system adjusts to change and promotes progress.
The mechanics of the circular flow model.
chapter 3
Demand, Supply and Market Equilibrium
In this chapter you will learn:
What demand is and what affects it.
What supply is and what affects it.
How supply and demand together determine market equilibrium.
How changes in supply and demand affect equilibrium prices and quantities.
What government-set prices are and how they can cause product surpluses and shortages.
chapter 4
The U.S. Economy: Private and Public Sectors
In this chapter you will learn:
Important facts about U.S. households and U.S. businesses.
Why the corporate form of business organization dominates sales and profits.
The problem that arises when corporate owners (principals) and their managers (agents) have different interests.
About the economic role of government in the economy.
The categories of government spending and the sources of government revenues.
chapter 5
The United States in the Global Economy
In this chapter you will learn:
Some key facts about U.S. international trade.
About comparative advantage, specialization, and international trade.
How exchange rates are determined in currency markets.
How and why government sometimes interferes with free international trade.
The role played by free-trade zones and the World Trade Organization (WTO) in promoting international trade.
chapter 6
Measuring Domestic Output and National Income
In this chapter you will learn:
How gross domestic product (GDP) is defined and measured.
The relationships among GDP, net domestic product, national income, personal income, and disposable income.
The nature and function of a GDP price index.
The difference between nominal GDP and real GDP.
Some limitations of the GDP measure.
chapter 7
Introduction to Economic Growth and Instability
In this chapter you will learn:
How economic growth is measured and why it is important.
About the business cycle and its primary phases.
How unemployment and inflation are measured.
About the types of unemployment and inflation and their various economic impacts.
chapter 8
Basic Macroeconomic Relationships
In this chapter you will learn:
How changes in income affect consumption (and saving).
About factors other than income that can affect consumption.
How changes in real interest rates affect investment.
About factors other than the real interest rate that can affect investment.
Why changes in investment increase or decrease real GDP by a multiple amount.
chapter 9
The Aggregate Expenditures Model
In this chapter you will learn:
How economists combine consumption and investment to depict an aggregate expenditures schedule for a private closed economy.
The three characteristics of the equilibrium level of real GDP in a private closed economy: aggregate expenditures = output; saving = investment; and no unplanned changes in inventories.
How changes in equilibrium real GDP can occur and how those changes relate to the multiplier.
How economists integrate the international sector (exports and imports) and the public sector (government expenditures and taxes) into the aggregate expenditures model.
About the nature and causes of "recessionary expenditure gaps" and "inflationary expenditure gaps."
chapter 10
Aggregate Demand and Aggregate Supply
In this chapter you will learn:
About aggregate demand (AD) and the factors that cause it to change.
About aggregate supply (AS) and the factors that cause it to change.
How AD and AS determine an economy's equilibrium price level and level of real GDP.
How the AD-AS model explains periods of demand-pull inflation, cost-push inflation, and recession.
chapter 11
Fiscal Policy, Deficits, and Debt
In this chapter you will learn:
The purposes, tools, and limitations of fiscal policy.
The role of built-in stabilizers in moderating business cycles.
How the standardized budget reveals the status of U.S. fiscal policy.
About the size, composition, and consequences of the U.S. public debt.
Why there is a long-run fiscal imbalance in the Social Security system.
chapter12
Money and Banking
In this chapter you will learn:
About the functions of money and the components of the U.S. money supply.
What "backs" the money supply, making us willing to accept it as payment.
The makeup of the Federal Reserve and the U.S. banking system.
The functions and responsibilities of the Federal Reserve.
chapter 13
Money Creation
In this chapter you will learn:
Why the U.S. banking system is called a "fractional reserve" system.
The distinction between a bank's actual reserves and its required reserves.
How a bank can create money through granting loans.
About the multiple expansion of loans and money by the entire banking system.
What the monetary multiplier is and how to calculate it.
chaper 14
Interest Rates and Monetary Policy
In this chapter you will learn:
How the equilibrium interest rate is determined in the market for money.
The goals and tools of monetary policy.
About the Federal funds rate and how the Fed controls it.
The mechanisms by which monetary policy affects GDP and the price level.
The effectiveness of monetary policy and its shortcomings.
chapter15
Extending the Analysis of Aggregate Supply
In this chapter you will learn:
About the relationship between short-run aggregate supply and long-run aggregate supply.
How to apply the "extended" (short-run/long-run) AD-AS model to inflation, recessions, and unemployment.
About the short-run tradeoff between inflation and unemployment (the Phillips Curve).
Why there is no long-run tradeoff between inflation and unemployment.
The relationship between tax rates, tax revenues, and aggregate supply.
chapter 16
Economic Growth
In this chapter you will learn:
About the general ingredients of economic growth and how they relate to production possibilities analysis and long-run aggregate supply.
About "growth accounting" and the specific sources of U.S. economic growth.
Why U.S. productivity growth has accelerated since the mid-1990s.
About differing perspectives on whether growth is desirable and sustainable.
chapter 17
Disputes over Macro Theory and Policy
In this chapter you will learn:
The differences between the historical Keynesian and classical macro perspectives.
About alternative perspectives on the causes of macroeconomic instability, including the views of mainstream economists, monetarist, real-business cycle advocates, and proponents of coordination failures.
What the equation of exchange is and how it relates to "monetarism."
Why new classical economists believe the economy will "self-correct" from aggregate demand and aggregate supply shocks.
The variations of the debate over "rules" versus "discretion" in conducting stabilization policy.
chapter 18
Extensions of Demand and Supply Analysis
In this chapter you will learn:
About price elasticity of demand and how it can be applied.
The usefulness of the total revenue test for price elasticity of demand.
About price elasticity of supply and how it can be applied.
About cross elasticity of demand and income elasticity of demand.
About consumer surplus, producer surplus, and efficiency losses.
chapter 19
Consumer Behavior and Utility Maximization
In this chapter you will learn:
About total utility, marginal utility, and the law of diminishing marginal utility.
How rational consumers compare marginal utility-to-price ratios for products in purchasing combinations of products that maximize their utility.
How a demand curve can be derived by observing the outcomes of price changes in the utility-maximization model.
How the utility-maximization model helps highlight the income and substitution effects of a price change.
About budget lines, indifference curves, utility maximization, and demand derivation in the indifference curve model of consumer behavior. (Appendix)
chapter 20
The Costs of Production
In this chapter you will learn:
Why economic costs include both explicit (revealed and expressed) costs and implicit (present but not obvious) costs.
How the law of diminishing returns relates to a firm's short-run production costs.
The distinctions between fixed and variable costs and among total, average, and marginal costs.
The link between a firm's size and its average costs in the long run.
chapter 21
Pure Competition
In this chapter you will learn:
The names and main characteristics of the four basic market models.
The conditions required for purely competitive markets.
How purely competitive firms maximize profits or minimize losses.
Why the marginal-cost curve and supply curve of competitive firms are identical.
How industry entry and exit produce economic efficiency.
The differences between constant-cost, increasing-cost, and decreasing-cost industries.
How long-run competitive equilibrium results in economic efficiency.
chapter 22
Pure Monopoly
In this chapter you will learn:
The characteristics of pure monopoly.
How a pure monopoly sets its profit-maximizing output and price.
About the economic effects of monopoly.
Why a monopolist might prefer to charge different prices in different markets.
chapter 23
Monopolistic Competition and Oligopoly
In this chapter you will learn:
The characteristics of monopolistic competition.
Why monopolistic competitors earn only a normal profit in the long run.
The characteristics of oligopoly.
How game theory relates to oligopoly.
Why the demand curve of an oligopolist may be kinked.
The incentives and obstacles to collusion among oligopolists.
The potential positive and negative effects of advertising.
chapter 24
Technology, R&D, and Efficiency
In this chapter you will learn:
The differences between an invention, an innovation, and technological diffusion.
How entrepreneurs and other innovators further technological advance.
How a firm determines its optimal amount of research and development (R&D).
Why firms can benefit from their innovation even though rivals have an incentive to imitate it.
About the role of market structure in promoting technological advance.
How technological advance enhances productive and allocative efficiency.
chapter 25
The Demand for Resources
In this chapter you will learn:
The significance of resource pricing.
How the marginal revenue productivity of a resource relates to a firm's demand for that resource.
The factors that increase or decrease resource demand.
The determinants of elasticity of resource demand.
How a competitive firm selects its optimal combination of resources.
chapter 26
Wage Determination
In this chapter you will learn:
Why labor productivity and real hourly compensation track so closely over time.
How wage rates and employment levels are determined in competitive labor markets.
How monopsony (a market with a single employer) can reduce wages below competitive levels.
How unions can increase wage rates.
The major causes of wage differentials.
The types, benefits, and costs of "pay-for-performance" plans.
chapter 27
Rent, Interest, and Profit
In this chapter you will learn:
The nature of economic rent and how it is determined.
About the loanable funds theory of interest rates.
How interest rates vary based on risk, maturity, loan size, and taxability.
Why economic profits occur, and how profits, along with losses, allocate resources among alternative uses.
The share of U.S. earnings received by each of the factors of production.
chapter 28
Government and Market Failure
In this chapter you will learn:
How public goods are distinguished from private goods.
The method for determining the optimal quantity of a public good.
The basics of cost-benefit analysis.
About externalities (spillover costs and benefits) and the methods to remedy them.
How information failures can justify government interventions in some markets.
chapter 29
Public Choice Theory and the Economics of Taxation
In this chapter you will learn:
The difficulties of conveying economic preferences through majority voting.
About "government failure" and why it occurs.
The different tax philosophies and ways to distribute a nation's tax burden.
The principles relating to tax shifting, tax incidence, and efficiency losses from taxes.
chapter 30
Antitrust Policy and Regulation
In this chapter you will learn:
The core elements of the major antitrust (antimonopoly) laws in the United States.
Some of the key issues relating to the interpretation and application of antitrust laws.
The economic principles and difficulties relating to the setting of prices (rates) charged by so-called natural monopolies.
The nature of "social regulation," its benefits and costs, and its optimal level.
chapter 31
Agriculture: Economics and Policy
In this chapter you will learn:
Why agricultural prices and farm income are unstable.
Why huge numbers of labor resources have exited U.S. agriculture during the past several decades.
The rationale for farm subsidies and the economics and politics of price supports (price floors).
Major criticisms of the price-support system in agriculture.
The main elements of existing Federal farm policy.
chapter 32
Income Inequality and Poverty
In this chapter you will learn:
How income inequality in the United States is measured and described.
The extent and sources of income inequality.
How income inequality has changed since 1970.
The economic arguments for and against income inequality.
How poverty is measured and its incidence by age, gender, ethnicity, and other characteristics.
The major components of the income-maintenance program in the United States.
chapter 33
The Economics of Health Care
In this chapter you will learn:
Important facts about rising health care costs in the United States.
The economic implications of rising health care costs.
The problem of limited access to health care for those without insurance.
The demand and supply factors explaining rising health care costs.
The types of potential reforms of the U.S. health care system.
How recent legislation has altered the U.S. health care system.
chapter 34
Labor Market Institutions & Issues: Unionism, Discrimination, Immigration
In this chapter you will learn:
Who belongs to U.S. unions; the basics of collective bargaining; why unions are in decline; and the effects of unions on wages, efficiency, and productivity.
The types and costs of discrimination, economic theories of discrimination, and current antidiscrimination issues.
The extent and effects of U.S. immigration.
chapter 35
International Trade
In this chapter you will learn:
The graphical model of comparative advantage, specialization, and the gains from trade.
How differences between world prices and domestic prices prompt exports and imports.
How economists analyze the economic effects of tariffs and quotas.
The rebuttals to the most frequently presented arguments for protectionism.
About the assistance provided workers under the Trade Adjustment Act of 2002.
How the offshoring of U.S. jobs relates to the growing international trade in services.
chapter 36
Exchange Rates, the Balance of Payments, and Trade Deficits
In this chapter you will learn:
How currencies of different nations are exchanged when international transactions take place.
About the balance sheet the United States uses to account for the international payments it makes and receives.
How exchange rates are determined in currency markets.
The difference between flexible exchange rates and fixed exchange rates.
The causes and consequences of recent record-high U.S. trade deficits.
i will send you tests we have taken so far and the summary too by email
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