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0 reviews2008 seemed to be the year of economic news. From the worst financial crisis since the Great Depression to the
possibility of a global recession, to gyrating gasoline and food prices, and to plunging housing prices, economic
questions were the primary factors in the presidential campaign of 2008 and dominated the news generally.
What causes the prices of some good to rise while the prices of some other goods fall? Price determination is one
of the things that we will study in this book. We will also consider factors that lead an economy to fall into a
recession—and the attempts to limit it.
