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Textbooks / Business / Macroeconomics 6

Macroeconomics 6th Edition Solutions

Do I need to buy Macroeconomics | 6th Edition to pass the class?

ISBN: 9780134439839

Macroeconomics | 6th Edition - Solutions by Chapter

Do I need to buy this book?
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79% of students who have bought this book said that they did not need the hard copy to pass the class. Were they right? Add what you think:

Macroeconomics 6th Edition Student Assesment

Gerardo from Texas State University said

"If I knew then what I knew now I would not have bought the book. It was over priced and My professor only used it a few times."

Textbook: Macroeconomics
Edition: 6
Author: R. Glenn Hubbard; Anthony Patrick O'Brien
ISBN: 9780134439839

Since problems from 0 chapters in Macroeconomics have been answered, more than 200 students have viewed full step-by-step answer. The full step-by-step solution to problem in Macroeconomics were answered by , our top Business solution expert on 10/03/18, 03:08PM. This textbook survival guide was created for the textbook: Macroeconomics, edition: 6. Macroeconomics was written by and is associated to the ISBN: 9780134439839. This expansive textbook survival guide covers the following chapters: 0.

Key Business Terms and definitions covered in this textbook
  • absolute advantage

    the ability to produce a good using fewer inputs than another producer

  • average tax rate

    total taxes paid divided by total income

  • behavioral economics

    the subfield of economics that integrates the insights of psychology

  • collective bargaining

    the process by which unions and firms agree on the terms of employment

  • complements

    two goods for which an increase in the price of one leads to a decrease in the demand for the other

  • cost

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

  • game theory

    the study of how people behave in strategic situations

  • implicit costs

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

  • income elasticity of demand

    a measure of how much the quantity demanded of a good responds to a change in consumers’ income, computed as the percentage change in quantity demanded divided by the percentage change in income

  • life cycle

    the regular pattern of income variation over a person’s life

  • maximin criterion

    the claim that the government should aim to maximize the well-being of the worst-off person in society

  • 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

  • perfect complements

    two goods with right-angle indifference curves

  • permanent income

    a person’s normal income

  • political economy

    the study of government using the analytic methods of economics

  • proportional tax

    a tax for which highincome and low-income taxpayers pay the same fraction of income

  • quantity demanded

    the amount of a good that buyers are willing and able to purchase

  • substitutes

    two goods for which an increase in the price of one leads to an increase in the demand for the other

  • total cost

    the market value of the inputs a firm uses in production

  • Tragedy of the Commons

    a parable that illustrates why common resources are used more than is desirable from the standpoint of society as a whole