Changes from the Fourth Edition
Our theme of greater iternationalization is most noticeable in two major changes.
First, we now deal with an open economy right from the start. Thus, the studdent is never asked to think about a mythical closed economy and can immediately begin grappling with such issues as the effect of trade deficits on the U. S. economy.
Second, Chapter 17 on productivity has been relocated to start Part 4. It thus serves to place modern America in historical and geographical context.