[Joseph_E._Stiglitz,_Carl_E._Walsh]_Economics(Bookos.org) (1)

banks:
assets of, 621–22, 625
balance sheets of, 620–22, 625
central, 626–27, 653–55, 696, 722–23,
740–45, 748–49, 849–59
commercial, 613, 614
Federal Reserve, 626–28, 654, 716–17
history of, 205
liabilities of, 621–22, 625
money created by, 615–26
panics and, 322–24
regulation of, 614
reserves of, 621–26, 628–30, 715–21
barriers to entry, 281–84
Barro, Robert, 841–42
barter, 616, 620
basic competitive model, 25–29, 206, 226
imperfect markets and, 240–42
ingredients in, 29
basic model of economy, 25–29
basic research, as public good, 464–65
Beautiful Mind, A (Nasar), 314
beggar-thy-neighbor policies, 317, 441
behavioral economics, 119–21
Bell, Alexander Graham, 453, 454
Bell Laboratories, 291, 593–94
benefits:
compensation and, 365, 369
of economic interdependence, 423
marginal, 43–44, 104
costs and, see costs; marginal costs
benefit taxes, 383
Bentham, Jeremy, 113
Bernanke, Ben, 849
Berners-Lee, Tim, 454, 593
bilateral trade, 425
black markets, 33
block grants, 387
“Boggs Bills,” 619–20
bonds, 867–68, 874, 876
boom, 495
borrowed reserves, 629, 718–19
borrowing, 511, 512, 762–63, 839–40, 842
Botswana, 796
brand names, 241
Brazil, 802
see also LDCs
breach of contract, 338
briberization, 296
BTU tax, 107
Buchanan, James, 394
budget, 824–27
balanced, 552–54
defense spending and, 562
discretionary spending and, 562
economic growth and, 840
factors affecting U.S., 561–62, 837,
838–39
federal taxes and, 562, 838–39
health care cost and, 562
and interest on the debt, 841
risk factors in, 562
and social spending on the elderly, 562
budget constraints, 34–35, 39
changes in, 105, 109–11
choices and, 34–35
consumption decision and, 102–5
demand curves and, 110
income and, 105–8
indifference curves and, 127–29
between leisure and income, 177
slope of, 103
trade-offs and, 103
two-period, 192
budget deficit, 481, 548–54, 556–62, 733–36,
838–42
future, 840, 841–42
growth of, 562, 837, 838–39
buildings, as factor of production, 132
Bureau of Economic Analysis, U.S., 488,
490, 491
Bureau of Labor Statistics, U.S., 485, 514
Bush, George W., 39, 149, 396–97, 408, 732,
838–39
business cycles, 494–96, 638–48, 650–51,
844–48
see also fluctuations, business
Cailliau, Robert, 454, 593
California, electricity market in, 94, 112,
298–99
Cambridge constant, 609n
campaign contribution laws, 395
Canada, drug importation from, 399–400
capacity utilization, 496
capital:
human, 203–4, 592
international trade and, 448–49
in LDCs, 798
misallocation of, in LDCs, 798
perfectly mobile, 762–63
physical, 204
savings rates and, 569–70
capital deepening, 590–91, 592, 597
capital flows, 568–71, 572–74, 575
capital gains:
defined, 493, 868
income and, 493
tax rate for, 385
capital goods, 16, 200
as factor of production, 132
investment in, 537
capital investments, 537
capital markets, 15–16, 191–212, 536–39, 612
access to, 462
demand in, 200–201
equilibrium in, 534–35, 538–42, 691
in full-employment model, 540, 541
globalization and, 762–63, 771–74, 839–40
government and, 549–54
government borrowing in, 839–40
growth of, 536–37
interdependence in, 425
international, 480
investment in, 537–38
investors in, 16
liberalization and, 802–3
open economy and, 568–71
real interest rate and, 690–91
savings and, 536–39
capital requirements, 631–32
capital stock, 505, 533, 590–91
Carnegie, Andrew, 300
cartels, 275–77
OPEC, 59, 275
cash management accounts, 613
causation, correlation and, 19
CBO (Congressional Budget Office),
561–62, 838
CDs (certificates of deposit), 619, 866
Celler-Kefauver Antimerger Act of 1950,
300, 301
central bank, 626–27, 653–55, 696, 722–23,
740–45, 748–49, 849–59
centralization, see planned economies
centrally planned economy, 12
privatization in, 12, 296
Chamberlin, Edward, 273
China, 12, 91, 155, 797, 807
economic transition and, 812
future of, 813
market economy and, 793, 810
see also LDCs; planned economies
choices, 6
budget constraints and, 34–35
incentives and, 7
indifference curves and, 124–29
market economy and, 34, 118–19
opportunity set and, 34–37
scarcity and, 26
time constraints and, 34–35, 39
trade-offs and, 34–39, 103, 843–44, 845
see also decision making
cigarette tax, 220–21, 234
CIO (Congress of Industrial Organizations),
356
circular flows, 493, 534–35, 549–50, 554
cities, in LDCs, 798
Civil Rights Act of 1964, 364
Clayton Act of 1914, 300, 301
Clean Air Act Amendments of 1990, 414
Clinton, Bill:
economic policies of, 396
environmental regulations and, 149
A-16 ∂ INDEX