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Textbooks / Business / ECON 3100 COURSE PACKET

ECON 3100 COURSE PACKET Solutions

Do I need to buy ECON 3100 COURSE PACKET to pass the class?

ISBN: 281000000426B

ECON 3100 COURSE PACKET - Solutions by Chapter

Do I need to buy this book?
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ECON 3100 COURSE PACKET Student Assesment

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Textbook: ECON 3100 COURSE PACKET
Edition:
Author: VICKERS
ISBN: 281000000426B

This expansive textbook survival guide covers the following chapters: 0. This textbook survival guide was created for the textbook: ECON 3100 COURSE PACKET, edition: . Since problems from 0 chapters in ECON 3100 COURSE PACKET have been answered, more than 200 students have viewed full step-by-step answer. ECON 3100 COURSE PACKET was written by and is associated to the ISBN: 281000000426B. The full step-by-step solution to problem in ECON 3100 COURSE PACKET were answered by , our top Business solution expert on 10/03/18, 03:08PM.

Key Business Terms and definitions covered in this textbook
  • cost

    the value of everything a seller must give up to produce a good

  • demand curve

    a graph of the relationship between the price of a good and the quantity demanded

  • dominant strategy

    a strategy that is best for a player in a game regardless of the strategies chosen by the other players

  • externality

    the uncompensated impact of one person’s actions on the well-being of a bystander

  • Federal Reserve (Fed)

    the central bank of the United States

  • fixed costs

    costs that do not vary with the quantity of output produced

  • implicit costs

    input costs that do not require an outlay of money by the firm

  • incentive

    something that induces a person to act

  • marginal change

    a small incremental adjustment to a plan of action

  • money supply

    the quantity of money available in the economy

  • Nash equilibrium

    a situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the other actors have chosen

  • Nash equilibrium

    a situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the other actors have chosen

  • net capital outflow

    the purchase of foreign assets by domestic residents minus the purchase of domestic assets by foreigners

  • permanent income

    a person’s normal income

  • positive statements

    claims that attempt to describe the world as it is

  • production function

    the relationship between quantity of inputs used to make a good and the quantity of output of that good

  • purchasing-power parity

    a theory of exchange rates whereby a unit of any given currency should be able to buy the same quantity of goods in all countries

  • recession

    a period of declining real incomes and rising unemployment

  • supply curve

    a graph of the relationship between the price of a good and the quantity supplied

  • unemployment rate

    the percentage of the labor force that is unemployed