MANAGERIAL ECONOMICS IN THE 21ST CENTURY
Can the Government Do It All: Case in the Philippines ......................... 144 Privatization .......................................................................................... 144 Public–Private Partnership (PPP) .......................................................... 145 Summary .............................................................................................. 146 End of Chapter Assessment: Fiscal Policy and Public Expenditure ..... 147 149 Business Cycles in the Economy............................................................ 150 Inflation ................................................................................................. 151 Price Index............................................................................................. 152 Purchasing Power of Peso ..................................................................... 154 Regulating Inflation ............................................................................... 155 Zimbabwe’s Case: A Victim of Hyperinflation in the 21st Century Modern Economy ............................................................................ 158 Wages and Employment ....................................................................... 160 Labor Force and Unemployment .......................................................... 160 The Economic, Psychological, and Social Costs of Unemployment...... 161 Types of Unemployment: Causes and Effects....................................... 162 The Connection of Agrarian Reform in the Economy........................... 164 The Role of Agrarian Reform in Economic Development ..................... 165 Agrarian Reform in the Philippine Context ........................................... 165 Summary .............................................................................................. 167 End of Chapter Assessment: Economic Issues .................................... 169 AND THE INTERNATIONAL ECONOMY 171 International Trade................................................................................ 172 Production, Consumption, and Trade ................................................... 173 Absolute Advantage and Implicit Cause ............................................... 174 Globalization ......................................................................................... 175 Roles of Trade Liberalization Organizations.......................................... 175 Summary .............................................................................................. 177 End of Chapter Assessment: Trade, Globalization, and the International Economy ...................................................... 179
CHAPTER 11: ECONOMIC ISSUES
CHAPTER 12: TRADE, GLOBALIZATION,
Bibliography ................................................................................................................... 181 Index .............................................................................................................................. 189
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