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eco206 textbook answer ch1

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eco206 textbook answer ch1
C H A P T E R

1

An Overview of the Study Guide and
Chapter 1
Study guides that accompany textbooks are usually written as an afterthought by someone who has little connection to the textbook that is supposed to be supported by the study guide. I think it is for this reason that most study guides are not terribly helpful — and, I am told, they are not widely used by students.
This Study Guide is different in that it was written by me (the author) at the same time as the textbook was being written. It is therefore completely integrated into the textbook and based entirely on material that is introduced there. To be more precise, the textbook not only provides an initial introduction to the material but also serves as a launching pad for you to engage more directly with the material. It is really only through such a more direct engagement that you will begin to internalize the various concepts – and the Study Guide provides some structure around which to build that engagement.

Study Guide Overview
Here are the main ways to use the Study Guide for Chapters 2 through 29 as you proceed: 1. Each chapter begins with a quick bullet point overview of the main concepts in the corresponding textbook chapter. This essentially provides a 1 minute review highlighting the big ideas.
2. The bullet point overview is followed by a short discussion of how best to use the LiveGraphs (provided on the web site) to deepen your understanding of the material. (More on this in the next section!)
3. Detailed explanations to within-chapter-exercises are then provided for every within-chapter exercise. These exercises were constructed to help you absorb the material as you read the text – and my own students have done considerably better on exams when I have provided them with answers to these questions. So I am making them generally available here.

An Overview of the Study Guide and Chapter 1

2

4. About a third of the end-of-chapter exercises in the

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