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, PRINCIPLES OF
ECONOMICS Eighth Edition
N. GREGORY MANKIW
HARVAR D U N IVER SITY
Australia • Brazil • Mexico • Singapore • United Kingdom • United States
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated
d, in whole or in part. WC
CN 02-200-203
, Principles of Economics, 8e © 2018, 2015 Cengage Learning
N. Gregory Mankiw ALL RIGHTS RESERVED. No part of this work covered by the copyright herein
Vice President, General Manager, Social Science may be reproduced or distributed in any form or by any means, except as
& Qualitative Business: Erin Joyner permitted by U.S. copyright law, without the prior written permission of the
copyright owner.
Product Director: Jason Fremder
Senior Product Manager: Michael Parthenakis For product information and technology assistance, contact us at
Developmental Editor: Jane Tufts Cengage Learning Customer & Sales Support, 1-800-354-9706
Senior Digital Content Designer: Kasie Jean For permission to use material from this text or product,
submit all requests online at www.cengage.com/permissions
Senior Content Developer: Anita Verma
Further permissions questions can be emailed to
Content Development Manager: Clara
Goosman
Product Assistant: Emily Lehmann Unless otherwise noted, all items © Cengage Learning.
Executive Marketing Manager: John Carey
Library of Congress Control Number: 2016947882
Senior Content Project Manager:
Colleen A. Farmer ISBN 13: 978-1-305-58512-6
Senior Digital Production Project Manager: ISBN 10: 1-305-58512-7
Derek Drifmeyer
Manufacturing Planner: Kevin Kluck Cengage Learning
Marketing Coordinator: Casey Binder 20 Channel Center Street
Boston, MA 02210
Senior Learning Design Author: Eugenia Belova
USA
Learning Design Author: Brian A. Rodriguez
Production Service: Lumina Datamatics Inc.,
Cengage Learning is a leading provider of customized learning solutions with
Intellectual Property employees residing in nearly 40 different countries and sales in more than
Analyst: Jennifer Bowes 125 countries around the world. Find your local representative at
Project Manager: Sarah Shainwald www.cengage.com.
Senior Art Director: Michelle Kunkler
Internal and Cover Designer: Harasymczuk Cengage Learning products are represented in Canada by Nelson Education, Ltd.
Design
Cover Image: Library of Congress Prints and
To learn more about Cengage Learning Solutions, visit www.cengage.com
Photographs Division Washington, DC
20540 USA [LC-USZC4-4637];
© AIMSTOCK/Getty Images; © Buena Vista Purchase any of our products at your local college store or at our preferred
Images/Getty Images online store www.cengagebrain.com
Chapter Opener Photo: © samsonovs/Getty
Images
Custom Internal Illustrations: Bruce Morser
Printed in the United States of America
Print Number: 01 Print Year: 2016
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
, To Catherine, Nicholas, and Peter,
my other contributions to the next generation
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
Copy
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upllica
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in w
whol
hol
oeo
ol orr in
nppar
part
pa
art
arrt. WC
a CNN 02-20
2 0-20
203
20 3
, PRINCIPLES OF
ECONOMICS Eighth Edition
N. GREGORY MANKIW
HARVAR D U N IVER SITY
Australia • Brazil • Mexico • Singapore • United Kingdom • United States
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated
d, in whole or in part. WC
CN 02-200-203
, Principles of Economics, 8e © 2018, 2015 Cengage Learning
N. Gregory Mankiw ALL RIGHTS RESERVED. No part of this work covered by the copyright herein
Vice President, General Manager, Social Science may be reproduced or distributed in any form or by any means, except as
& Qualitative Business: Erin Joyner permitted by U.S. copyright law, without the prior written permission of the
copyright owner.
Product Director: Jason Fremder
Senior Product Manager: Michael Parthenakis For product information and technology assistance, contact us at
Developmental Editor: Jane Tufts Cengage Learning Customer & Sales Support, 1-800-354-9706
Senior Digital Content Designer: Kasie Jean For permission to use material from this text or product,
submit all requests online at www.cengage.com/permissions
Senior Content Developer: Anita Verma
Further permissions questions can be emailed to
Content Development Manager: Clara
Goosman
Product Assistant: Emily Lehmann Unless otherwise noted, all items © Cengage Learning.
Executive Marketing Manager: John Carey
Library of Congress Control Number: 2016947882
Senior Content Project Manager:
Colleen A. Farmer ISBN 13: 978-1-305-58512-6
Senior Digital Production Project Manager: ISBN 10: 1-305-58512-7
Derek Drifmeyer
Manufacturing Planner: Kevin Kluck Cengage Learning
Marketing Coordinator: Casey Binder 20 Channel Center Street
Boston, MA 02210
Senior Learning Design Author: Eugenia Belova
USA
Learning Design Author: Brian A. Rodriguez
Production Service: Lumina Datamatics Inc.,
Cengage Learning is a leading provider of customized learning solutions with
Intellectual Property employees residing in nearly 40 different countries and sales in more than
Analyst: Jennifer Bowes 125 countries around the world. Find your local representative at
Project Manager: Sarah Shainwald www.cengage.com.
Senior Art Director: Michelle Kunkler
Internal and Cover Designer: Harasymczuk Cengage Learning products are represented in Canada by Nelson Education, Ltd.
Design
Cover Image: Library of Congress Prints and
To learn more about Cengage Learning Solutions, visit www.cengage.com
Photographs Division Washington, DC
20540 USA [LC-USZC4-4637];
© AIMSTOCK/Getty Images; © Buena Vista Purchase any of our products at your local college store or at our preferred
Images/Getty Images online store www.cengagebrain.com
Chapter Opener Photo: © samsonovs/Getty
Images
Custom Internal Illustrations: Bruce Morser
Printed in the United States of America
Print Number: 01 Print Year: 2016
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
, To Catherine, Nicholas, and Peter,
my other contributions to the next generation
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
