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From the impact of rising gas prices to debates over free trade agreements, the workings of the economy remain a mystery to most, even as the demands on our economic resources increase. This volume presents a basic introduction to the national economy-how it works and how various political and business decisions affect it. Chapters one through four explain the concept of Gross Domestic Product, with an emphasis on supply and demand, long-term growth, and short-term fluctuations, resulting from such factors as interest rates and inflation. Chapters five through eight highlight the four basic sectors of the economy-businesses, households, the government, and the international arena-and how they interact.
The national economy is the engine of growth for any country-whether it is a superpower with global reach or a small nation struggling to emerge from poverty. Every citizen is a participant in the economy, as they work to create income for their families, pay taxes, spend their earnings of products and services, or draw from government programs, such as welfare or Social Security. And yet the workings of the economy remain a mystery to most, even as the demands on our economic resources increase.
Sommario
IllustrationsSeries Foreword by Wesley B. TruittPrefaceChronology of American Economic History1. The Market Economy of the United States
2. Measuring the Performance of the American Economy
3. Economic Growth
4. Business Cycles
5. Business and the National Economy
6. Households and the National Economy
7. Government and the National Economy
8. The International Sector and the National Economy
Sources of Current Economic InformationGlossaryReferencesIndex
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Bradley A. Hansen
