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Textbooks / Business / PRINCIPLES OF MACROECOS:STREAMLINED COMBO: LL & A/C 3

PRINCIPLES OF MACROECOS:STREAMLINED COMBO: LL & A/C 3rd Edition Solutions

Do I need to buy PRINCIPLES OF MACROECOS:STREAMLINED COMBO: LL & A/C | 3rd Edition to pass the class?

ISBN: 9781260588408

PRINCIPLES OF MACROECOS:STREAMLINED COMBO: LL & A/C | 3rd Edition - Solutions by Chapter

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PRINCIPLES OF MACROECOS:STREAMLINED COMBO: LL & A/C 3rd Edition Student Assesment

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"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: PRINCIPLES OF MACROECOS:STREAMLINED COMBO: LL & A/C
Edition: 3
Author: FRANK
ISBN: 9781260588408

This textbook survival guide was created for the textbook: PRINCIPLES OF MACROECOS:STREAMLINED COMBO: LL & A/C, edition: 3. PRINCIPLES OF MACROECOS:STREAMLINED COMBO: LL & A/C was written by and is associated to the ISBN: 9781260588408. This expansive textbook survival guide covers the following chapters: 0. Since problems from 0 chapters in PRINCIPLES OF MACROECOS:STREAMLINED COMBO: LL & A/C have been answered, more than 200 students have viewed full step-by-step answer. The full step-by-step solution to problem in PRINCIPLES OF MACROECOS:STREAMLINED COMBO: LL & A/C were answered by , our top Business solution expert on 10/03/18, 06:29PM.

Key Business Terms and definitions covered in this textbook
  • accounting profit

    total revenue minus total explicit cost

  • average fixed cost

    fixed cost divided by the quantity of output

  • average variable cost

    variable cost divided by the quantity of output

  • behavioral economics

    the subfield of economics that integrates the insights of psychology

  • cartel

    a group of firms acting in unison

  • diminishing marginal product

    the property whereby the marginal product of an input declines as the quantity of the input increases

  • externality

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

  • frictional unemployment

    unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills

  • game theory

    the study of how people behave in strategic situations

  • horizontal equity

    the idea that taxpayers with similar abilities to pay taxes should pay the same amount

  • labor force

    the total number of workers, including both the employed and the unemployed

  • median voter theorem

    a mathematical result showing that if voters are choosing a point along a line and each voter wants the point closest to his most preferred point, then majority rule will pick the most preferred point of the median voter

  • menu costs

    the costs of changing prices

  • present value

    the amount of money today that would be needed, using prevailing interest rates, to produce a given future amount of money

  • profit

    total revenue minus total cost

  • 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

  • real exchange rate

    the rate at which a person can trade the goods and services of one country for the goods and services of another

  • substitution effect

    the change in consumption that results when a price change moves the consumer along a given indifference curve to a point with a new marginal rate of substitution

  • total revenue (in a market)

    the amount paid by buyers and received by sellers of a good, computed as the price of the good times the quantity sold

  • welfare economics

    the study of how the allocation of resources affects economic well-being