MACROECONOMICS

Sr. Vice President, Editorial and Production: Catherine Woods

Publisher: Charles Linsmeier

Marketing Manager: Tom Digiano

Development Editors: A. Robert Templeton and Bradley T. Smith of First Folio Resource Group Inc.

Marketing Assistant: Tess Sanders

Senior Media Editor: Marie McHale

Director of Digital and Print Development: Tracey Kuehn

Associate Managing Editor: Lisa Kinne

Coordinating Editor: Debbie Smith of First Folio Resource Group Inc.

Managing Editor: Julie Kretchman of First Folio Resource Group Inc.

Art Director: Babs Reingold

Interior Designer: Babs Reingold

Cover Designer: Kevin Kall

Copy Editor: Arleane Ralph

Photo Editors: Cecilia Varas and Maria Decambra

Photo Researchers: Elyse Rieder and Maria Decambra

Production Manager: Barbara Anne Seixas

Composition: Kim Hutchinson of First Folio Resource Group Inc.

Printing and Binding: RR Donnelley

ISBN-13: 978-1-4292-4006-2

ISBN-10: 1-4292-4006-7

Library of Congress Control Number: 2012930400

© 2014, 2006 by Worth Publishers

All rights reserved.

Printed in the United States of America

First printing 2013

Worth Publishers

41 Madison Avenue

New York, NY 10010

www.worthpublishers.com

To beginning students everywhere, which we all were at one time.

And, to Sophia & Jon and Dora, Alena, & Hanna

Iris & Jack