The Elements of Economics: An Introduction to the Theory of Price and Employment

Contents......Page 4
Editor\'s Introduction\r......Page 6
Preface\r......Page 8
Introduction\r......Page 12
Part One – The Structure of the Economy......Page 20
Introduction\r......Page 21
1: \rAn Overall View of the Economy......Page 22
2: The Changing Economy\r......Page 31
3: The Business Firm\r......Page 39
4: Government and the Economy\r......Page 60
Part Two – The Operations of the Business Firm: Price and Output\r......Page 68
Introduction\r......Page 69
5: The Study of the Business Firm: Introduction\r......Page 70
6: The Costs of a Business Firm......Page 76
7: Costs and Output\r......Page 88
8: Some Relations Between Average, Marginal, and Total Costs\r......Page 99
9: Changes in the Cost Determinants\r......Page 107
10: The Demand for the Product of a Firm: Introduction\r......Page 115
11: Elasticity of Demand and the Marginal Revenue\r......Page 127
12: Factors That Determine the Elasticity of Demand\r......Page 141
13: Competition and Monopoly in the United States\r......Page 155
14: The Determination of Price and Output\r......Page 167
15: Changes in Demand and the Effect on Output\r......Page 183
16: Changes in Cost and Output\r......Page 197
17: Theory and Practice\r......Page 206
18: Price and Output: The Industry\r......Page 215
19: Long-Period Adjustments in Price and Output\r......Page 235
20: Monopoly, Competition, and the Satisfaction of Wants\r......Page 248
21: The Value of Output and The National Income\r......Page 262
22: The Economics of the Firm: Summary\r......Page 273
Part Three – Money and the Interest Rate\r......Page 290
Introduction\r......Page 291
23: Money and Commercial Banks\r......Page 292
24: The Federal Reserve System\r......Page 314
25: The Supply of Money, the Interest Rate, and Gold\r......Page 331
Part Four – The National Income and Employment\r......Page 348
Introduction\r......Page 349
26: The Theory of Employment: Introduction\r......Page 350
27: The Determinants of Income\r......Page 360
28: The Determinants of Investment\r......Page 381
29: The National Income and Changes in Investment\r......Page 403
30: The Determinants of the Propensity to Consume\r......Page 424
31: Changes in the Propensity to Consume\r......Page 441
32: Prosperity and Depression\r......Page 453
33: Full Employment and Beyond\r......Page 479
34: Remedies for Unemployment: General Considerations......Page 502
35: Remedies for Unemployment: Details\r......Page 518
36: The National Debt: A Digression\r......Page 540
37: Invention and Employment\r......Page 552
38: The Money Wage, the Real Wage, and Employment\r......Page 565
39: The Theory of Employment: Summary\r......Page 575
Part Five – International Trade, Output, and Income\r......Page 590
Introduction\r......Page 591
40: The Basis for International Trade\r......Page 592
41: The Balance of Payments and the Exchange Rate\r......Page 609
42: International Trade and the National Income\r......Page 630
Part Six – Interest Groups in the Economy\r......Page 649
Introduction\r......Page 650
43: Labor\r......Page 651
44: Agriculture\r......Page 666
45: Monopoly\r......Page 679
46: A Resurvey of the Economy\r......Page 689
Index\r......Page 696