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1、MACROECONOMICSThispageintentionallyleftblankSEVENTHEDITIONMACROECONOMICSN.GREGORYMANKIWHarvardUniversityWorthPublishersSeniorPublishers:CatherineWoodsandCraigBleyerSeniorAcquisitionsEditor:SarahDorgerSeniorMarketingManager:ScottGuileConsultingEditor:PaulShensaSeniorDevelopmentEditor:Ma
2、rieMcHaleDevelopmentEditor:JaneTuftsAssistantEditor,MediaandSupplements:TomAcoxAssociateManagingEditor:TraceyKuehnProjectEditor:DanaKasowitzArtDirector:BabsReingoldCoverandTextDesigner:KevinKallProductionManager:BarbaraAnneSeixasComposition:TSIGraphicsPrintingandBinding:RRDonnelleyCove
3、rart:BarbaraEllmannWHAT’SYOURANGLE?EncausticonWoodPanel24''x24''©2005LibraryofCongressCataloging-in-PublicationNumber:2009924581ISBN-13:978-1-4292-1887-0ISBN-10:1-4292-1887-8©2010,2007,2003byN.GregoryMankiwAllrightsreserved.PrintedintheUnitedStatesofAmericaFirstPrinting2009WorthPublish
4、ers41MadisonAvenueNewYork,NY10010www.worthpublishers.comabouttheauthorPhotobyDeborahMankiwN.GregoryMankiwisProfessorofEconomicsatHarvardUniversity.HebeganhisstudyofeconomicsatPrincetonUniversity,wherehereceivedanA.B.in1980.AfterearningaPh.D.ineconomicsfromMIT,hebeganteachingatHarvardin
5、1985andwaspromotedtofullprofessorin1987.Today,heregularlyteachesbothundergraduateandgraduatecoursesinmacroeconomics.HeisalsoauthorofthepopularintroductorytextbookPrinciplesofEconomics(CengageLearning).ProfessorMankiwisaregularparticipantinacademicandpolicydebates.Hisresearchrangesacros
6、smacroeconomicsandincludesworkonpriceadjustment,consumerbehavior,financialmarkets,monetaryandfiscalpolicy,andeconomicgrowth.InadditiontohisdutiesatHarvard,hehasbeenaresearchassociateoftheNationalBureauofEconomicResearch,amemberoftheBrookingsPanelonEconomicActivity,andanadvisertotheFede
7、ralReserveBankofBostonandtheCongressionalBudgetOffice.From2003to2005hewaschairmanofthePresident’sCouncilofEconomicAdvisers.ProfessorMankiwlivesinWellesley,Massachusetts,withhiswife,Deborah;children,Catherine,Nicholas,andPeter;andtheirborderterrier,Tobin.vToDeborahhosebranchesofpoliti
