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Textbooks / Business / International Economics 4

International Economics 4th Edition Solutions

Do I need to buy International Economics | 4th Edition to pass the class?

ISBN: 9781319061715

International Economics | 4th Edition - Solutions by Chapter

Do I need to buy this book?
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78% 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:

International Economics 4th 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: International Economics
Edition: 4
Author: Robert C. Feenstra; Alan M. Taylor
ISBN: 9781319061715

Since problems from 0 chapters in International Economics have been answered, more than 200 students have viewed full step-by-step answer. This textbook survival guide was created for the textbook: International Economics, edition: 4. The full step-by-step solution to problem in International Economics were answered by , our top Business solution expert on 10/11/18, 12:52AM. This expansive textbook survival guide covers the following chapters: 0. International Economics was written by and is associated to the ISBN: 9781319061715.

Key Business Terms and definitions covered in this textbook
  • average fixed cost

    fixed cost divided by the quantity of output

  • capital fligh

    a large and sudden reduction in the demand for assets located in a country

  • cartel

    a group of firms acting in unison

  • comparative advantage

    the ability to produce a good at a lower opportunity cost than another producer

  • complements

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

  • consumption

    spending by households on goods and services, with the exception of purchases of new housing

  • demand deposits

    balances in bank accounts that depositors can access on demand by writing a check

  • equilibrium quantity

    the quantity supplied and the quantity demanded at the equilibrium price

  • excludability

    the property of a good whereby a person can be prevented from using it

  • game theory

    the study of how people behave in strategic situations

  • gross domestic product (GDP)

    the market value of all final goods and services produced within a country in a given period of time

  • implicit costs

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

  • income effect

    the change in consumption that results when a price change moves the consumer to a higher or lower indifference curve

  • marginal product

    the increase in output that arises from an additional unit of input

  • permanent income

    a person’s normal income

  • poverty line

    an absolute level of income set by the federal government for each family size below which a family is deemed to be in poverty

  • quantity equation

    the equation M × V = P × Y, which relates the quantity of money, the velocity of money, and the dollar value of the economy’s output of goods and services

  • 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

  • vertical equity

    the idea that taxpayers with a greater ability to pay taxes should pay larger amounts

  • welfare

    government programs that supplement the incomes of the needy welfare economics the study of how the allocation of resources affects economic well-being