Book excerpt: To answer all your questions about the new economic realities governing life in the 1990s, this edition has been completely updated and revised to offer extensive coverage of global developments that could not even have been foreseen a decade ago! In addition to vital new topics that are changing the face of economics in our time, you'll also find all the information that made the First Edition of The McGraw-Hill Encyclopedia of Economics a solid reference tool. Each topic is authored by an expert in that particular area of economics and economic theory. Among these experts are three Nobel Prize winners: Lawrence R. Klein, writing on Computers in Economics, Econometrics, and Economic Models; James Tobin, writing on Inflation; and Herbert A. Simon, writing on Satisficing. Covering the gamut from international trade balance to environmental protection incentives to credit cards to national expectations, the Encyclopedia is designed for users at all levels.