Errata Page

The following errors were found in your textbook. The corresponding corrections
are detailed. You should make these corrections directly in your textbook at the
beginning of the semester. Finding new errors can earn you extra credit.

Note:  Errors in earlier editions of your textbook are also listed below.

Textbook:  18th Edition, McConnell/Brue/Flynn
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    p. 267: Under the section titled "Debt and GDP," federal debt held by the public
            should be 30.6% in 2007, not 13.6

    p. 323: Graph (c,) the "Qf" designation was omitted in front of "= $900."

    p. 330: The second column, second line, should read: "Fed purchases of U.S.securities" 
            not Fed sales of U.S. securities.

    p. 359:  Under the heading "Ongoing inflation in the Extended AD-AS Model: 1st paragraph, 
             second sentence states:  "...shocks can cause, respectively, demand-push 
             (should be demand-pull) inflation and cost-push inflation.


Textbook:  16th Edition, McConnell/Brue
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    p. 184:  The second sentence in the section titled "Differential Impacts," states:
 
             "The $60 (should be $20) billion increase in G in our illustration, 
             subject to the multiplier of 4, produced an $80 increase in real GDP."

    p. 280:  The last sentence on the page should read:

             "Increases in the supply of money produce lower interest rates in general, 
             including the prime interest rate."

    p. 379:  See Table 21.1  Balance on Goods and Services should equal $435B.  
                             This is a rounding problem.

    p.   3:  (Bonus Web Chapter: Transition Economies, a.k.a Chapter 23)

             There is a typo under the heading: "Central Economic Planning," it reads:
             "Both nations had 'command' economies that replied on central economic planning
             and were government-directed rather than market directed."
 
             This should read:  
             "Both nations had 'command' economies that relied on central economic planning
             and were government-directed rather than market directed."


Textbook:  15th Edition, McConnell/Brue
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    p. 316:  Under "Disinflation," in the second paragraph and the second sentence,
             "Profits are restored, employment rises, and the unemployment rate falls
             back to its natural rate of 6 percent..."  The 6 percent is incorrect.
             It should be "5 percent."

    p. 400:  Under "Official Reserves Account" (that starts on page 399), in the second
             paragraph and the last sentence it says, "As such, item 13 would..."
             Item 13 is incorrect.  It should be "item 14".

    p. 410:  Under "In Support of the Managed Float", in the first sentence there is a 
             typo, "Proponents of the managed-float system argue that it has..."


Textbook:  14th Edition, McConnell/Brue
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    p. 265:  See "Defining Money: M1:"  The textbook does not explain well
             the fact that currency (coins and paper money) is not considered
             a part of the money supply (M1) unless it is held by the general 
             public.  Currency held by a bank is not a part of M1.  It is 
             assumed that currency held by a bank in represented by checkable
             deposits.  Counting both as a part of M1 would be double counting.

    p. 472:  Chapter Summary Section #10 should read:

             Rising energy prices, declining export prices, appreciation
             of the dollar...

             Should read "appreciation" not depreciation of the dollar.


Textbook:  13th Edition, McConnell/Brue
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    p. 135:  Equation at top left of page should read:

                                      $64
             GDP price index (1996) = --- x 100 = 128
                                      $50

    p. 150:  Last line on the page.  1.6% should be 1.4%.

    p. 151:  Given the correction above, the GDP gap should be 3.5% not 4%.
             Further, the lost output should be $211 billion not $241
             billion.

    p. 255:  See "Defining Money: M1:"  The textbook does not explain well
             the fact that currency (coins and paper money) is not considered
             a part of the money supply (M1) unless it is held by the general 
             public.  Currency held by a bank is not a part of M1.  It is 
             assumed that currency held by a bank in represented by checkable
             deposits.  Counting both as a part of M1 would be double counting.