Instructor Solution Manual For Brief Principles of Macroeconomics, 9th Edition N. Gregory Mankiw Chapter(1-18)

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Insturctor Solution Manual For Brief Principles of Macroeconomics, 9th Edition N. Gregory Mankiw Chapter 1-18 Chapter 1 WHAT’S NEW IN THE NINTH EDITION: There are no major changes to this chap... ter. LEARNING OBJECTIVES: By the end of this chapter, students should understand:  that economics is about the allocation of scarce resources.  that individuals face trade-offs.  the meaning of opportunity cost.  how to use marginal reasoning when making decisions.  how incentives affect people’s behavior.  why trade among people or nations can be good for everyone.  why markets are a good, but not perfect, way to allocate resources.  what determines some trends in the overall economy. CONTEXT AND PURPOSE: Chapter 1 is the first chapter in a three-chapter section that serves as the introduction to the text. Chapter 1 introduces ten fundamental principles on which the study of economics is based. In a broad sense, the rest of the text is an elaboration on these ten principles. Chapter 2 will develop how economists approach problems while Chapter 3 will explain how individuals and countries gain from trade. The purpose of Chapter 1 is to lay out ten economic principles that will serve as building blocks for the rest of the text. The ten principles can be grouped into three categories: how people make decisions, how people interact, and how the economy works as a whole. Throughout the text, references will be made repeatedly to these ten principles. [Show More]

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