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Chapter 1: What Happens There Matters Here
Book chapter
-
Reference no. BEP10048
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 21 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
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Abstract

This chapter is excerpted 'Understanding Economic Equilibrium: Making Your Way Through an Interdependent World'. Economic agents all over the world are trying to maximize their returns given their efforts, resources, and opportunities. They come together in markets that ultimately allocate goods and services among many competing interests. We can readily see how individual markets behave; it's more difficult, but exponentially more important, to recognize the general equilibrium across all markets. Disturbances in one market have implications for others. These interrelationships are particularly important to understand when policy changes are being considered where actions in one market will impose changes on other markets, and not always in obvious or pleasant ways. 'Understanding Economic Equilibrium' reveals how all markets fit together, and how we as individuals fit into that bigger picture.
Thumbnail image for product with reference number BEP10049
Chapter 2: It's the Global Economy
Book chapter
-
Reference no. BEP10049
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10050
Chapter 3: Politics and the Economy
Book chapter
-
Reference no. BEP10050
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10051
Chapter 4: GDP: The Perfectly Imperfect Measurement
Book chapter
-
Reference no. BEP10051
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 26 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10052
Chapter 5: Consumers and Consumption: Follow the Money
Book chapter
-
Reference no. BEP10052
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10053
Chapter 6: Shifting Sands: Consumers Prefer Services
Book chapter
-
Reference no. BEP10053
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 24 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10054
Chapter 7: Great Expectations
Book chapter
-
Reference no. BEP10054
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10055
Chapter 8: Saving and Investing: Equilibrium at Work
Book chapter
-
Reference no. BEP10055
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10056
Chapter 9: Real Estate: Is It Still Location, Location, Location?
Book chapter
-
Reference no. BEP10056
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10057
Chapter 10: Lighten Up: Capital Expenditure and Intellectual Property
Book chapter
-
Reference no. BEP10057
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10058
Chapter 11: Inventories: The Buffer Between Production and Consumption
Book chapter
-
Reference no. BEP10058
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
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Chapter 12: State and Local Governments: Where Spending Gets Done
Book chapter
-
Reference no. BEP10059
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
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Chapter 13: Stabilization and Procyclicality: How Governments Balance Spending with Taxes
Book chapter
-
Reference no. BEP10060
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
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Chapter 14: Federal Spending: Budgets and Deficit Spending
Book chapter
-
Reference no. BEP10061
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 24 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
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Chapter 15: Jimmy Stewart, Oz, and the Road to a Federal Reserve
Book chapter
-
Reference no. BEP10062
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Revision date: 8-Jul-2021
Length: 24 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10063
Chapter 16: The Stop Sign (or Toll Booth) at the Border: Trade and Tariffs
Book chapter
-
Reference no. BEP10063
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 24 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
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Chapter 17: The Compensation Principle: Should We Pay the Losers?
Book chapter
-
Reference no. BEP10064
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Revision date: 14-Jun-2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10065
Chapter 18: Domestic Imbalance: A Role for Trade Balances
Book chapter
-
Reference no. BEP10065
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 24 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10066
Chapter 19: As the World Turns
Book chapter
-
Reference no. BEP10066
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Revision date: 19-May-2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10067
Chapter 20: COVID-19: How the Pandemic Changed Business
Book chapter
-
Reference no. BEP10067
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 26 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10068
Chapter 21: Climate Change: 'Is It Hot in Here or Is It Me?' (Joan of Arc)
Book chapter
-
Reference no. BEP10068
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10069
Chapter 22: Health Care Costs: A Steady Climb
Book chapter
-
Reference no. BEP10069
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 24 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10070
Chapter 23: First Fridays: Monthly Job Reports
Book chapter
-
Reference no. BEP10070
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 26 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10071
Chapter 24: A Shrinking Workforce: Jobs and Work in the Twenty-first Century
Book chapter
-
Reference no. BEP10071
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10072
Chapter 25: Wages: Minimum and More
Book chapter
-
Reference no. BEP10072
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10073
Chapter 26: Measuring Prices: How Much Is a Dollar?
Book chapter
-
Reference no. BEP10073
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10074
Chapter 27: Productivity and Wages: What We Make for What We Earn
Book chapter
-
Reference no. BEP10074
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10075
Chapter 28: Money Illusion: The Distinction Between Income and Buying Power
Book chapter
-
Reference no. BEP10075
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 21 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
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Chapter 29: Baumol Cost Disease: The Relationship Between Wages and Productivity
Book chapter
-
Reference no. BEP10076
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 21 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10077
Chapter 30: Exchange Rates and Purchasing Power
Book chapter
-
Reference no. BEP10077
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10078
Chapter 31: The Fed's Job: A Stable Economy
Book chapter
-
Reference no. BEP10078
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10079
Chapter 32: What the Financial Markets Reveal
Book chapter
-
Reference no. BEP10079
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10080
Chapter 33: The Yield Curve: What Is It Saying?
Book chapter
-
Reference no. BEP10080
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10081
Chapter 34: The Dollar Versus Everything Else
Book chapter
-
Reference no. BEP10081
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10082
Chapter 35: Buy Low, Sell High: Efficient Markets
Book chapter
-
Reference no. BEP10082
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10083
Chapter 36: An Expert Wife's Advice
Book chapter
-
Reference no. BEP10083
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
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Understanding Economic Equilibrium: Making Your Way Through an Interdependent World - Epilogue
Book chapter
-
Reference no. BEP10084
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 21 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details

About

Abstract

This chapter is excerpted 'Understanding Economic Equilibrium: Making Your Way Through an Interdependent World'. Economic agents all over the world are trying to maximize their returns given their efforts, resources, and opportunities. They come together in markets that ultimately allocate goods and services among many competing interests. We can readily see how individual markets behave; it's more difficult, but exponentially more important, to recognize the general equilibrium across all markets. Disturbances in one market have implications for others. These interrelationships are particularly important to understand when policy changes are being considered where actions in one market will impose changes on other markets, and not always in obvious or pleasant ways. 'Understanding Economic Equilibrium' reveals how all markets fit together, and how we as individuals fit into that bigger picture.

Related

Thumbnail image for product with reference number BEP10049
Chapter 2: It's the Global Economy
Book chapter
-
Reference no. BEP10049
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10050
Chapter 3: Politics and the Economy
Book chapter
-
Reference no. BEP10050
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10051
Chapter 4: GDP: The Perfectly Imperfect Measurement
Book chapter
-
Reference no. BEP10051
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 26 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10052
Chapter 5: Consumers and Consumption: Follow the Money
Book chapter
-
Reference no. BEP10052
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10053
Chapter 6: Shifting Sands: Consumers Prefer Services
Book chapter
-
Reference no. BEP10053
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 24 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10054
Chapter 7: Great Expectations
Book chapter
-
Reference no. BEP10054
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10055
Chapter 8: Saving and Investing: Equilibrium at Work
Book chapter
-
Reference no. BEP10055
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10056
Chapter 9: Real Estate: Is It Still Location, Location, Location?
Book chapter
-
Reference no. BEP10056
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10057
Chapter 10: Lighten Up: Capital Expenditure and Intellectual Property
Book chapter
-
Reference no. BEP10057
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
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Chapter 11: Inventories: The Buffer Between Production and Consumption
Book chapter
-
Reference no. BEP10058
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10059
Chapter 12: State and Local Governments: Where Spending Gets Done
Book chapter
-
Reference no. BEP10059
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
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Thumbnail image for product with reference number BEP10060
Chapter 13: Stabilization and Procyclicality: How Governments Balance Spending with Taxes
Book chapter
-
Reference no. BEP10060
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10061
Chapter 14: Federal Spending: Budgets and Deficit Spending
Book chapter
-
Reference no. BEP10061
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 24 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10062
Chapter 15: Jimmy Stewart, Oz, and the Road to a Federal Reserve
Book chapter
-
Reference no. BEP10062
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Revision date: 8-Jul-2021
Length: 24 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10063
Chapter 16: The Stop Sign (or Toll Booth) at the Border: Trade and Tariffs
Book chapter
-
Reference no. BEP10063
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 24 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10064
Chapter 17: The Compensation Principle: Should We Pay the Losers?
Book chapter
-
Reference no. BEP10064
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Revision date: 14-Jun-2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10065
Chapter 18: Domestic Imbalance: A Role for Trade Balances
Book chapter
-
Reference no. BEP10065
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 24 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10066
Chapter 19: As the World Turns
Book chapter
-
Reference no. BEP10066
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Revision date: 19-May-2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10067
Chapter 20: COVID-19: How the Pandemic Changed Business
Book chapter
-
Reference no. BEP10067
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 26 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10068
Chapter 21: Climate Change: 'Is It Hot in Here or Is It Me?' (Joan of Arc)
Book chapter
-
Reference no. BEP10068
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10069
Chapter 22: Health Care Costs: A Steady Climb
Book chapter
-
Reference no. BEP10069
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 24 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10070
Chapter 23: First Fridays: Monthly Job Reports
Book chapter
-
Reference no. BEP10070
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 26 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10071
Chapter 24: A Shrinking Workforce: Jobs and Work in the Twenty-first Century
Book chapter
-
Reference no. BEP10071
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10072
Chapter 25: Wages: Minimum and More
Book chapter
-
Reference no. BEP10072
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10073
Chapter 26: Measuring Prices: How Much Is a Dollar?
Book chapter
-
Reference no. BEP10073
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10074
Chapter 27: Productivity and Wages: What We Make for What We Earn
Book chapter
-
Reference no. BEP10074
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10075
Chapter 28: Money Illusion: The Distinction Between Income and Buying Power
Book chapter
-
Reference no. BEP10075
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 21 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10076
Chapter 29: Baumol Cost Disease: The Relationship Between Wages and Productivity
Book chapter
-
Reference no. BEP10076
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 21 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10077
Chapter 30: Exchange Rates and Purchasing Power
Book chapter
-
Reference no. BEP10077
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10078
Chapter 31: The Fed's Job: A Stable Economy
Book chapter
-
Reference no. BEP10078
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10079
Chapter 32: What the Financial Markets Reveal
Book chapter
-
Reference no. BEP10079
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 23 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10080
Chapter 33: The Yield Curve: What Is It Saying?
Book chapter
-
Reference no. BEP10080
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10081
Chapter 34: The Dollar Versus Everything Else
Book chapter
-
Reference no. BEP10081
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10082
Chapter 35: Buy Low, Sell High: Efficient Markets
Book chapter
-
Reference no. BEP10082
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details
Thumbnail image for product with reference number BEP10083
Chapter 36: An Expert Wife's Advice
Book chapter
-
Reference no. BEP10083
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 22 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
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Understanding Economic Equilibrium: Making Your Way Through an Interdependent World - Epilogue
Book chapter
-
Reference no. BEP10084
Authors: Thomas J Cunningham (Business Expert Press); Mike Shaw (Business Expert Press)
Chapter from: "Understanding Economic Equilibrium: Making Your Way Through an Interdependent World"
Published by: Business Expert Press
Originally published in: 2021
Length: 21 pages
Topics: Economics; The economy; Global economy; Economists; GDP; Gross domestic product; Goods and services; Equilibrium; Macroeconomics; Macroeconomy; Free trade; Supply and demand; Federal Reserve; The Fed; Consumers and consumption
View full details