Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters. Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition. The first edition of Principles of Macroeconomics by OpenStax is available in web view here.

By the end of this section, you will be able to:

Identify U.S. budget deficit and surplus trends over the past five decades
Explain the differences between the U.S. federal budget, and state and local budgets

By the end of this section, you will be able to:

Understand the arguments for and against requiring the U.S. federal budget to be balanced
Consider the long-run and short-run effects of a federal budget deficit

This resource contains a detailed biography on Herbert Hoover. From the left-hand toolbar, select information on his life before the presidency, campaigns and elections, domestic affairs, foreign affairs, and life after the presidency. Also includes links to his cabinet and staff members, key events that happened during his tenure, and a page dedicated to the first lady, Lou Henry Hoover.