real-world applications, and its innovative pedagogy.The Fourth Edition Update brings students the most current information and insights on significant recent macroeconomic developments throughout the world. In a new, full-color supplement shrink-wrapped with the text, the authors present updated discussion and figures on such noteworthy subjects as the financial crisis in Argentina, the stock market boom and bust, the 2001 tax cut as an instance of Ricardian equivalence, and revisions to the 2001-Quarter IV GDP.

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