Includes index.

Books in Barron's Business Review Series are intended mainly for classroom use. They define and explain terms, summarize key concepts, and present review questions with answers and explanations. This updated edition defines and distinguishes between macroeconomics and microeconomics. It demonstrates the uses of graphs and discusses the law of supply and demand, which is fundamental to understanding economic principles. A Macroeconomics section covers topics that include national output, inflation, types and costs of unemployment, aggregate demand and supply, the Keynesian model, fiscal and monetary policy, open-market macroeconomics, and more. Microeconomics topics covered include monopolies, forces that promote competition, game theory, labor markets and unions, economic profits, government spending and taxation, and more.