Includes bibliographical references and index.

Contents: Macroeconomics and managerial decision making -- The Measurement of national output and prices -- Macroeconomic experience in North America -- Long-run economic growth: Natural resources and economic growth -- Labour and capital in economic growth -- Output per unit of input and economic growth -- Consumption, investment and business cycles: The Demand side: An Overview -- Consumption -- Investment and the multiplier -- Business cycles and demand instability -- Money, the price level, and interest rates: Money and interest rates: An Overview -- The Supply of money -- The Price level, interest rates and monetary policy -- The Role of government: Government expenditure and taxes -- Government deficits, debt and financing -- International trade and exchange rates: International trade and comparative advantage -- Balance of payments and international capital flows -- Instability in the international financial system -- International trade in manufactured products -- Public policies for growth and stability: The Sources of instability and guiding principles for public policy -- Implications for business decisions: Macroeconomic developments and business decision making -- Glossary of major terms and concepts.