Bonus Downloads (2016)
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2nd Edition (2016)
The 2016 edition, released in a hardcover binding, is completely revised. It is not compatible with the 2009 paperback edition.
1st Edition (2009)
The first edition of Exploring Economics was released in 2009 in paperback format. You may purchase a digital download of the Quiz and Exam Pack.
2016 Edition (Hardcover)
Unit 7, Lesson 33
- We mixed up our descriptions of money market accounts, which are deposited at banks, and money market funds, which are mutual funds held through investment companies. Here is our updated description of money market funds on page 207:
Money market funds are mutual funds that invest in relatively safe and short-term securities such as U.S. Treasury bills. Money market funds usually earn more than bank savings accounts but less than funds that invest in stocks.
Unit 11, Lesson 55
- On the pie chart on page 344, two of the labels are switched. The large green section on the right should be labeled "Social Security - 23.9%". The blue section on the left should be labeled "Non-Defense - 15.8%".
Unit 12, Lesson 56
- In the paragraph giving a simple example of GDP, we mixed up the names we used. The corrected paragraph should read: "We can determine the GDP either by totaling all expenditures or by totaling all income. This is true because one person’s expenditure is another person’s income. Any exchange has two parties, the seller and the buyer. If Doug makes an object and sells it to Olivia for $100, then Olivia’s expenditure is $100 and Doug’s income is $100. This exchange has increased the GDP by $100."
- On question #1 in Lesson 55, question #9 in Lesson 57, and question #2 in Lesson 60, we inadvertently printed the answer after the question. You can white out the answer.
Quiz and Exam Book
- The word banks in the Second Exam (page 26) and the Unit 11 Quiz (page 29) had multiple errors.
- The page reference for question #6 in Lesson 23 should be 130.
- The page reference for question #10 in Lesson 28 should be 163.
- The page reference for questions #9 and #10 in Lesson 37 should be 235.
- The page reference for question #2 in Lesson 46 should be 290.
- For question #5 in Lesson 57, the Conference Board was founded in 1916.
2009 Edition (Paperback)
The chart on page 129 is incorrect. You can download the corrected chart from the current edition here: Supply and Demand Equilibrium Chart
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