Veseth Introductory Economics

1. Auflage 2014
ISBN: 978-1-4832-6300-7
Verlag: Elsevier Science & Techn.
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 790 Seiten, Web PDF

Introductory Economics deals with the national economy as a whole-macroeconomics, in terms of inflation and unemployment. The book also discusses individual economic decision-makers-microeconomics, in view of the problems of scarcity and choice. Macroeconomics uses the market model of demand and supply as a tool to analyze the causes of, and present some cures for modern economic ailments. The text examines the economics of government fiscal policies with the framework of an aggregate demand and supply model. The book compares monetary policy and fiscal policy, explains the monetarist model of economic activity, and also investigates the roles of money, credit, interest rates. These economic activities have international consequences such as in trade, exchange rates, and on prevailing and future national economic policies. In microeconomics, the book focuses on the economics of exchange, the market mechanisms that increase the gains from trade, and the problems of choice facing consumers and producers in a competitive market. The text also tackles the problems found in resource markets (labor, natural resources, energy), in market failure, as well as analyzes the role of government. Economists, sociologists, students of economics or business, general readers interested in real-world economics, and policy makers involved in national economic development will find the book valuable.

Autoren/Hrsg.

Veseth, Michael

Inhaltsverzeichnis

1;Front Cover;1
2;Introductory Economics;4
3;Copyright Page;5
4;Table of Contents;6
5;Preface;14
6;Part I: Tools and Problems;18
6.1;Chapter 1. Macroeconomic Problems;20
6.1.1;WHAT IS ECONOMICS?;21
6.1.2;MACROVERSUS MICROECONOMICS;23
6.1.3;MACROECONOMICS GOALS AND PROBLEMS;24
6.1.4;THE GREAT DEPRESSION;25
6.1.5;THE FORTIES;27
6.1.6;THE FIFTIES;27
6.1.7;THE SIXTIES;29
6.1.8;THE PHILLIPSCURVE;30
6.1.9;THE SEVENTIES;31
6.1.10;WHAT HAPPENED TO THE PHILLIPS CURVE?;33
6.1.11;THE EIGHTIES AND BEYOND;34
6.1.12;SUMMARY;35
6.1.13;DISCUSSION QUESTIONS;36
6.1.14;TEST YOURSELF;36
6.2;Chapter 2. Supply and Demand;40
6.2.1;THE CONCEPT OF DEMAND;42
6.2.2;THE DEMAND CURVE;46
6.2.3;THE CONCEPT OF SUPPLY;49
6.2.4;THESUPPLYCURVE;52
6.2.5;CHANGES IN SUPPLY;54
6.2.6;THE MARKET AT WORK;57
6.2.7;SOME APPLICATIONS;60
6.2.8;INFLATION: A PREVIEW;65
6.2.9;REVIEW OF MARKET ACTIONS;68
6.2.10;SUMMARY;69
6.2.11;DISCUSSION QUESTIONS;71
6.2.12;TEST YOURSELF;72
6.3;Chapter 3.
The
Problem
of
Unemployment;74
6.3.1;THE UNEMPLOYMENT RATE;76
6.3.2;THE LABOR MARKET;78
6.3.3;CYCLICAL UNEMPLOYMENT;80
6.3.4;STRUCTURAL UNEMPLOYMENT;83
6.3.5;FRICTIONAL UNEMPLOYMENT;83
6.3.6;UNEMPLOYMENT INSURANCE;86
6.3.7;THE GOA LOF FULL EMPLOYMENT;86
6.3.8;HOW SERIOUS IS THE UNEMPLOYMENT PROBLEM?;87
6.3.9;SUMMARY;92
6.3.10;DISCUSSION QUESTIONS;93
6.3.11;TEST YOURSELF;93
6.4;Chapter 4. Understanding Inflation;96
6.4.1;WHAT IS INFLATION?;97
6.4.2;THE INFLATION RECORD;98
6.4.3;ECONOMIC EFFECTS OF INFLATION;99
6.4.4;THE ROLE OF EXPECTATIONS;103
6.4.5;WINNERS AND LOSERS;105
6.4.6;THE POWER OF COMPOUND INFLATION;105
6.4.7;COPING WITH INFLATION;106
6.4.8;MEASURING INFLATION;108
6.4.9;THREE INFLATIONM EASURES;112
6.4.10;REAL VERSUS NOMINAL VALUES;113
6.4.11;SUMMARY;114
6.4.12;DISCUSSION QUESTIONS;115
6.4.13;TEST YOURSELF;116
7;Part 2: A Simple Model of the Economy;122
7.1;Chapter 5. Measuring Economic Activity;124
7.1.1;GROSS NATIONAL PRODUCT;125
7.1.2;GNP AS A MEASURE OF WELL-BEING;128
7.1.3;THREE VIEWS OF GNP;129
7.1.4;A GRAIN OF SALT;130
7.1.5;REAL GROSS NATIONAL PRODUCT;131
7.1.6;PER CAPITA RGNP;133
7.1.7;INTERNATIONAL COMPARISONS;133
7.1.8;SUMMARY;135
7.1.9;DISCUSSION QUESTIONS;136
7.1.10;TEST YOURSELF;136
7.2;Chapter 6. Aggregate Demand;138
7.2.1;SPENDING AND INCOME;139
7.2.2;MACROECONOMIC EQUILIBRIUM;142
7.2.3;CONSUMPTION SPENDING;144
7.2.4;INVESTMENT SPENDING;147
7.2.5;GOVERNMENT SPENDING;147
7.2.6;NET EXPORT SPENDING;148
7.2.7;THE AGGREGATE DEMAND CURVE;148
7.2.8;CHANGES IN AGGREGATE DEMAND;150
7.2.9;SLOPE OF THE AD CURVE;152
7.2.10;APPENDIX: THE KEYNESIAN 45-DEGREE-LINE MODEL;153
7.2.11;SUMMARY;157
7.2.12;DISCUSSION QUESTIONS;158
7.2.13;TEST YOURSELF;158
7.3;Chapter 7.
Aggregate
Supply and the
Economy;160
7.3.1;AGGREGATESUPPLY;161
7.3.2;THE AGGREGATE SUPPLY CURVE;165
7.3.3;CHANGES IN AGGREGATE SUPPLY;169
7.3.4;MACROECONOMIC EQUILIBRIUM;171
7.3.5;INVENTORY ADJUSTMENTS;175
7.3.6;CAUSES OF UNEMPLOYMENT;175
7.3.7;CAUSES OF INFLATION;179
7.3.8;THE OLD-TIME RELIGION;180
7.3.9;WAGE AND PRICE CONTROLS;181
7.3.10;INDEXATION;182
7.3.11;INCREASING AGGREGATE SUPPLY;183
7.3.12;WINNERS AND LOSERS FROM ECONOMIC POLICIES;184
7.3.13;SUMMARY;186
7.3.14;DISCUSSION QUESTIONS;187
7.3.15;TEST YOURSELF;188
7.3.16;DISCUSSION QUESTIONS;191
7.4;Chapter 8. Fiscal Policy;192
7.4.1;THE ROLE OF GOVERNMENT;193
7.4.2;GOVERNMENT SPENDING;194
7.4.3;THE MULTIPLIER;197
7.4.4;THE MULTIPLIER IN THE REAL WORLD;200
7.4.5;TAXES;201
7.4.6;THE BALANCED-BUDGET MULTIPLIER;204
7.4.7;DIFFERENT TYPES OF TAXES;205
7.4.8;THE TOTAL TAX BURDEN;212
7.4.9;TAX EXPENDITURES;212
7.4.10;TRANSFER PAYMENTS;214
7.4.11;AUTOMATIC STABILIZERS;214
7.4.12;ADVANTAGES AND DISADVANTAGES OF FISCAL POLICIES;215
7.4.13;DEFICIT SPENDING AND THE NATIONAL DEBT;217
7.4.14;SUMMARY;218
7.4.15;DISCUSSION QUESTIONS;219
7.4.16;TEST YOURSELF;220
7.4.17;DISCUSSION QUESTIONS;224
8;Part 3:
Money,
Credit, and the
Economy;226
8.1;Chapter 9.
Money
and
Banking;228
8.1.1;THE MONEYSUPPLY;230
8.1.2;MONEY SUBSTITUTES;232
8.1.3;THE INTERESTRATE;233
8.1.4;MONEY AND BANKS;238
8.1.5;FRACTIONAL-RESERVE BANKING;239
8.1.6;HOW BANKS 'CREATE"MONEY;241
8.1.7;THEFED;244
8.1.8;OPEN MARKET OPERATIONS;244
8.1.9;RESERVE REQUIREMENT POLICY;246
8.1.10;SUMMARY;248
8.1.11;DISCUSSION QUESTIONS;248
8.1.12;TEST YOURSELF;249
8.2;Chapter 10.
Money,
Credit,
and the
Economy;252
8.2.1;THE CREDIT MA
RKET;253
8.2.2;THE STOCK

MARKET;255
8.2.3;DEMAND FOR

CREDIT;256
8.2.4;THE CREDIT DEMAND

CURVE;259
8.2.5;THE SUPPLY OF

CREDIT;261
8.2.6;THE CREDIT MARKETAT

WORK;263
8.2.7;THE INFLATION

PREMIUM;266
8.2.8;DISINTERMEDI
ATION;269
8.2.9;THE REAL INTEREST RATE;270
8.2.10;INVESTMENT AND THE CREDIT MARKET;271
8.2.11;MONETARY POLICY;273
8.2.12;SUMMARY;275
8.2.13;DISCUSSION QUESTIONS;276
8.2.14;TEST YOURSELF;276
8.2.15;DISCUSSION QUESTIONS;279
8.3;Chapter 11. Monetary versus Fiscal Policy;280
8.3.1;EXPANSIONARY MONETARY POLICIES;281
8.3.2;EXPANSIONARY FISCAL POLICIES;283
8.3.3;PUBLIC VERSUS PRIVATE SECTOR GROWTH;284
8.3.4;INFLATION IN THE LONG RUN;285
8.3.5;ADVANTAGES AND DISADVANTAGES;286
8.3.6;CONTRACTIONARY POLICIES;289
8.3.7;FINANCING GOVERNMENT SPENDING;290
8.3.8;BORROWING FROM THE PUBLIC;292
8.3.9;BORROWING FROM THE FRS;294
8.3.10;ACCOMMODATING MONETARY POLICY;296
8.3.11;CONFLICTING MONETARY POLICY;297
8.3.12;SUMMARY;298
8.3.13;DISCUSSION QUESTIONS;299
8.3.14;TEST YOURSELF;299
8.4;Chapter 12. The Monetarists;302
8.4.1;THE EQUATION OF EXCHANGE;303
8.4.2;THE BARTER ECONOMY;306
8.4.3;MONEY AS A COMMODITY;310
8.4.4;MONEY AND THE ECONOMY;312
8.4.5;MONETARY POLICY: THE MONETARIST VIEW;313
8.4.6;FISCAL POLICY: THE MONETARIST VIEW;315
8.4.7;MONETARIST POLICY RECOMMENDATIONS;316
8.4.8;CRITICISMS OF MONETARY POLICIES;316
8.4.9;FRIEDMAN'S POLICY OF RULES;317
8.4.10;WHO'S RIGHT, HERE?;317
8.4.11;SUMMARY;318
8.4.12;DISCUSSION QUESTIONS;319
8.4.13;TEST YOURSELF;319
8.4.14;DISCUSSION QUESTIONS;322
9;Part 4: International Economics;324
9.1;Chapter 13. International Trade;326
9.1.1;WHY DO NATIONS TRADE?;327
9.1.2;GAINS FROM TRADE;330
9.1.3;COMPARATIVE ADVANTAGE IN THE REAL WORLD;333
9.1.4;TRADE RESTRICTIONS;334
9.1.5;WHO PAYS THE TARIFF;336
9.1.6;THE RATIONALE OF BARRIERS TO TRADE;340
9.1.7;THE BALANCE OF PAYMENTS;342
9.1.8;STAGES OF BALANCE OF PAYMENTS;343
9.1.9;THE BALANCE OF TRADE;344
9.1.10;SUMMARY;346
9.1.11;DISCUSSION QUESTIONS;346
9.1.12;TEST YOURSELF;347
9.2;Chapter 14.
The
Foreign
Exchange
Market;348
9.2.1;THE EXCHANGE RATE;349
9.2.2;THE FOREIGN EXCHANGE MARKET;350
9.2.3;THE FOREIGN EXCHANGE MARKET AT WORK;358
9.2.4;EXCHANGE MARKET INTERVENTION;365
9.2.5;FIXED EXCHANGE RATES;367
9.2.6;SUMMARY;367
9.2.7;DISCUSSION QUESTIONS;368
9.2.8;TEST YOURSELF;368
9.3;Chapter 15. International Economics;374
9.3.1;TRADE AND THE ECONOMY;375
9.3.2;INTERNATIONAL CREDIT MARKETS;376
9.3.3;EURODOLLARS;379
9.3.4;MONETARY POLICY WITH FLEXIBLE EXCHANGE RATES;380
9.3.5;FISCAL POLICY WITH FLEXIBLE EXCHANGE RATES;382
9.3.6;ECONOMIC POLICY WITH FLEXIBLE EXCHANGE RATES;383
9.3.7;ECONOMIC POLICY WITH INTERVENTION;384
9.3.8;FIXED EXCHANGE RATES;386
9.3.9;INTERNATIONAL ECONOMIC POLICIES;389
9.3.10;SUMMARY;390
9.3.11;DISCUSSION QUESTIONS;391
9.3.12;TEST YOURSELF;391
9.4;Chapter 16.
Problems,
Goals,
and
Trade-offs;394
9.4.1;MACROECONOMIC GOALS;395
9.4.2;INTERNATIONAL ECONOMIC GOALS;398
9.4.3;POLICY TOOLS;399
9.4.4;TRADE-OFFS IN ECONOMIC POLICIES;400
9.4.5;ECONOMIC POLICY CHOICES;401
9.4.6;POLICY PROBLEMS;404
9.4.7;SETTING NATIONAL PRIORITIES;405
9.4.8;SUMMARY;405
9.4.9;DISCUSSION QUESTIONS;406
9.4.10;TEST YOURSELF;406
10;Part 5:
The
Economics
of
Exchange;410
10.1;Chapter 17.
Scarcity
and
Choice;412
10.1.1;THE PROBLEM OF SCARCITY;413
10.1.2;CHANGING TRADE-OFFS;417
10.1.3;SCARCITY AND CHOICE FOR THE INDIVIDUAL;418
10.1.4;SCARCITY AND CHOICE FOR THE BUSINESS FIRM;419
10.1.5;SCARCITY AND CHOICE FOR SOCIETY;419
10.1.6;ECONOMIC GROWTH;422
10.1.7;SUMMARY;424
10.1.8;DISCUSSION QUESTIONS;425
10.1.9;TEST YOURSELF;425
10.2;Chapter 18.
Specialization
and
Exchange;428
10.2.1;A BARTER ECONOMY;429
10.2.2;THE THEORY OF COMPARATIVE ADVANTAGE;430
10.2.3;MUTUALLY ADVANTAGEOUS EXCHANGE;431
10.2.4;SPECIALIZATION IN THE REAL WORLD;435
10.2.5;COMPARATIVE ADVANTAGE IN THE REAL WORLD;436
10.2.6;THE ROLE OF MONEY;437
10.2.7;LIMITS TO EXCHANGE;438
10.2.8;DISTRIBUTION OF THE GAIN;439
10.2.9;OTHER REASONS FOR EXCHANGE;440
10.2.10;SUMMARY;442
10.2.11;DISCUSSION QUESTIONS;443
10.2.12;TEST YOURSELF;444
10.3;Chapter 19.
Demand
and
Supply:
The Micro Side;446
10.3.1;THE ROLE OF THE MARKET;447
10.3.2;HOW THE MARKET WORKS;447
10.3.3;THE CONCEPT OF DEMAND;448
10.3.4;THE DEMAND CURVE;451
10.3.5;THE CONCEPT OF SUPPLY;455
10.3.6;THE SUPPLY CURVE;457
10.3.7;CHANGES IN SUPPLY;457
10.3.8;THE MARKET AT WORK;460
10.3.9;CHANGING MARKETS;463
10.3.10;SUMMARY OF MARKET ACTIONS;465
10.3.11;THE MARKETS VERDICT;466
10.3.12;SUMMARY;469
10.3.13;DISCUSSION QUESTIONS;470
10.3.14;TEST YOURSELF;471
10.4;Chapter 20.
Markets
at
work;472
10.4.1;REAL WORLD ECONOMICS: FALLING CALCULATORP RICES;473
10.4.2;REAL WORLD ECONOMICS: COFFEE AND TEA;475
10.4.3;REAL WORLD ECONOMICS: CUT-RATE AIR FARES;478
10.4.4;REAL WORLD ECONOMICS: CIGARETTE TAXES;482
10.4.5;REAL WORLD ECONOMICS: RENT CONTROLS;485
10.4.6;REAL WORLD ECONOMICS: PRICE FLOORS;487
10.4.7;APPENDIX: MORE ABOUT ELASTICITY;491
10.4.8;SUMMARY;494
10.4.9;DISCUSSION QUESTIONS;495
10.4.10;TEST YOURSELF;495
11;Part 6:
Consumer
and
Producer
Choice;498
11.1;Chapter 21. Consumer Choice;500
11.1.1;HOW MUCH TO BUY?;501
11.1.2;CONSUMER BENEFITS: UTILITY;501
11.1.3;MAXIMIZING UTILITY;504
11.1.4;OPPORTUNITY COST;505
11.1.5;CONSUMER EQUILIBRIUM;507
11.1.6;CHANGING CONSUMER CHOICE;509
11.1.7;CHANGING PRICES: DEMAND CURVES;510
11.1.8;SUBSTITUTES, COMPLEMENTS, AND INCOME EFFECTS;512
11.1.9;CHANGING PREFERENCES;514
11.1.10;APPENDIX: INDIFFERENCE CURVE ANALYSIS;517
11.1.11;SUMMARY;528
11.1.12;DISCUSSION QUESTIONS;529
11.1.13;TEST YOURSELF;529
11.2;Chapter 22.
Production
and
Cost;532
11.2.1;WHO ARE THE PRODUCERS?;533
11.2.2;MOTIVES OF THE FIRM;534
11.2.3;PRODUCTION AND COSTS;534
11.2.4;DIFFERENT VIEWS OF PRODUCTION COSTS;537
11.2.5;COSTS IN THE LONG RUN;541
11.2.6;APPENDIX: PRODUCTION THEORY;544
11.2.7;SUMMARY;553
11.2.8;DISCUSSION QUESTIONS;553
11.3;Chapter 23.
Producer
Choice:
Monopoly;556
11.3.1;WHAT IS A MONOPOLY?;557
11.3.2;MONOPOLY REVENUES;559
11.3.3;THE MONOPOLY PRODUCTION DECISION;562
11.3.4;MONOPOLY PRICING;563
11.3.5;CHANGING COSTS;565
11.3.6;TECHNOLOGICAL ADVANCES;566
11.3.7;MONOPOLY IN THE REAL WORLD;568
11.3.8;SUMMARY;570
11.3.9;DISCUSSION QUESTIONS;571
11.3.10;TEST YOURSELF;572
11.4;Chapter 24.
Producers
in
Competitive
Markets;574
11.4.1;PERFECT COMPETITION;575
11.4.2;PRICE TAKERS;576
11.4.3;MAXIMIZING PROFITS;578
11.4.4;SUPPLY CURVES;580
11.4.5;EQUILIBRIUM FOR THE INDUSTRY;581
11.4.6;CHANGING COSTS FOR THE FIRM;582
11.4.7;SUPPLY IN THE LONG RUN;584
11.4.8;SUMMARY;588
11.4.9;DISCUSSION QUESTIONS;588
11.4.10;TEST YOURSELF;589
11.5;Chapter 25. Imperfect Competition;590
11.5.1;PRODUCT DIFFERENTIATION;591
11.5.2;PRICE DISCRIMINATION;596
11.5.3;BENEFITS OF PRICE DISCRIMINATION;599
11.5.4;CARTELS;600
11.5.5;OLIGOPOLIES;603
11.5.6;GOVERNMENT REGULATION;604
11.5.7;SUMMARY;608
11.5.8;DISCUSSION QUESTIONS;609
11.5.9;TEST YOURSELF;609
12;Part 7: Resource Markets;612
12.1;Chapter 26. Labor Markets;614
12.1.1;THE SUPPLY OF LABOR;615
12.1.2;THE DEMAND FOR LABOR;618
12.1.3;CHANGES IN LABOR DEMAND;620
12.1.4;THE LABOR DEMAND CURVE;622
12.1.5;WAGE RATE DIFFERENTIALS;623
12.1.6;LABOR UNIONS;625
12.1.7;GOVERNMENT LABOR POLICIES;626
12.1.8;SUMMARY;631
12.1.9;DISCUSSION QUESTIONS;632
12.1.10;TEST YOURSELF;632
12.2;Chapter 27.
Capital
and
Natural
Resource Markets;634
12.2.1;THE DEMAND FOR INPUTS;635
12.2.2;INVESTMENT: THE DEMAND FOR CAPITAL;637
12.2.3;INPUT SUPPLIES: NATURAL RESOURCES;640
12.2.4;THE IMPACT OF PRICE EXPECTATIONS;642
12.2.5;THE PROBLEM OF PROPERTY RIGHTS;643
12.2.6;UNSTABLE PRICES;645
12.2.7;SUMMARY;651
12.2.8;DISCUSSION QUESTIONS;651
12.2.9;TEST YOURSELF;652
12.3;Chapter 28. Energy Markets;654
12.3.1;ENERGY AND ECONOMIC DEVELOPMENT;655
12.3.2;PRICE, QUANTITY, AND SUBSTITUTION EFFECTS;656
12.3.3;ENERGY SUPPLIES;657
12.3.4;ENERGY PRICE CONTROLS;658
12.3.5;OPEC AND THE SUPPLY OF OIL;661
12.3.6;MANAGING THE ENERGY PROBLEM;661
12.3.7;THE PARADOX OF NET ENERGY;663
12.3.8;ENERGY AND THE ENVIRONMENT;665
12.3.9;SUMMARY;667
12.3.10;DISCUSSION QUESTIONS;668
13;Part 8: Market Failures;670
13.1;Chapter 29. Free Marketchoice;672
13.1.1;THE FREE MARKET ECONOMY;673
13.1.2;THE INVISIBLE HAND;674
13.1.3;BUREAUCRATIC CHOICE;675
13.1.4;SELF-INTEREST AND THE INVISIBLE HAND;676
13.1.5;THE ECONOMIC PROPERTIES OF DEMAND;676
13.1.6;TOTAL BENEFITS AND CONSUMERS' SURPLUS;678
13.1.7;THE ECONOMIC PROPERTIES OF SUPPLY;680
13.1.8;MARKET EQUILIBRIUM: NET BENEFITS;683
13.1.9;TAXES AND NET BENEFITS;684
13.1.10;DEMOCRATIC CHOICE;686
13.1.11;VOTING: WHAT DOES THE PUBLIC WANT?;688
13.1.12;THE ROLE OF GOVERNMENT: MARKET FAILURES;689
13.1.13;SUMMARY;692
13.1.14;DISCUSSION QUESTIONS;692
13.1.15;TEST YOURSELF;693
13.2;Chapter 30.
Market
Failures:
Externalities;694
13.2.1;PRIVATE VERSUS SOCIAL COSTS AND BENEFITS;696
13.2.2;EXTERNAL BENEFITS;697
13.2.3;EXTERNAL COSTS;700
13.2.4;OPTIMAL POLLUTION;703
13.2.5;EXTERNALITY POLICY OPTIONS;705
13.2.6;LIMITS TO GOVERNMENT ACTIONS;707
13.2.7;PUBLIC GOODS;708
13.2.8;SUMMARY;712
13.2.9;DISCUSSION QUESTIONS;713
13.2.10;TEST YOURSELF;713
13.3;Chapter 31.
Market
Failures:
Monopolies;716
13.3.1;MONOPOLY PROBLEMS;717
13.3.2;GOVERNMENT MONOPOLY POLICY;719
13.3.3;ANTITRUST REGULATION;722
13.3.4;TRADE-OFF: PATENT MONOPOLIES;723
13.3.5;COSTS AND BENEFITS OF MONOPOLY REGULATION;723
13.3.6;NATURAL MONOPOLIES;724
13.3.7;PRICING OF NATURAL MONOPOLIES;725
13.3.8;SUMMARY;730
13.3.9;DISCUSSION QUESTIONS;731
13.3.10;TEST YOURSELF;731
13.4;Chapter 32.
Scarcity and Choice:
The
Poverty
Problem;732
13.4.1;FIGHTING POVERTY: THE RECORD;733
13.4.2;WHO ARE THE POOR?;735
13.4.3;CAUSES OF POVERTY;737
13.4.4;TRANSFER PAYMENTS;738
13.4.5;WHAT KIND OF TRANSFERS?;739
13.4.6;MINIMUM WAGES;740
13.4.7;JOB TRAINING AND EDUCATION;741
13.4.8;PUBLIC EMPLOYMENT PROGRAMS;743
13.4.9;COSTS OF GOVERNMENT ACTION;744
13.4.10;SUMMARY;746
13.4.11;DISCUSSION QUESTIONS;747
13.4.12;TEST YOURSELF;747
14;Suggestions for Further Reading;750
15;Glossary;756
16;Answers to "Test Yourself";768
17;Index;772