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Textbooks / Business / Brief Principles of Macroeconomics 8

Brief Principles of Macroeconomics 8th Edition Solutions

Do I need to buy Brief Principles of Macroeconomics | 8th Edition to pass the class?

ISBN: 9781337091985

Brief Principles of Macroeconomics | 8th Edition - Solutions by Chapter

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Brief Principles of Macroeconomics 8th 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: Brief Principles of Macroeconomics
Edition: 8
Author: N. Gregory Mankiw
ISBN: 9781337091985

This textbook survival guide was created for the textbook: Brief Principles of Macroeconomics, edition: 8. Since problems from 0 chapters in Brief Principles of Macroeconomics have been answered, more than 200 students have viewed full step-by-step answer. Brief Principles of Macroeconomics was written by and is associated to the ISBN: 9781337091985. The full step-by-step solution to problem in Brief Principles of Macroeconomics were answered by , our top Business solution expert on 11/06/18, 07:54PM. 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 fixed cost

    fixed cost divided by the quantity of output

  • discount rate

    the interest rate on the loans that the Fed makes to banks

  • discrimination

    the offering of different opportunities to similar individuals who differ only by race, ethnic group, sex, age, or other personal characteristics

  • equilibrium price

    the price that balances quantity supplied and quantity demanded

  • equilibrium quantity

    the quantity supplied and the quantity demanded at the equilibrium price

  • fixed costs

    costs that do not vary with the quantity of output produced

  • Giffen good

    a good for which an increase in the price raises the quantity demanded

  • gross domestic product (GDP)

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

  • imports

    goods produced abroad and sold domestically

  • incentive

    something that induces a person to act

  • investment

    spending on capital equipment, inventories, and structures, including household purchases of new housing

  • monopolistic competition

    a market structure in which many firms sell products that are similar but not identical

  • progressive tax

    a tax for which highincome taxpayers pay a larger fraction of their income than do low-income taxpayers

  • quantity supplied

    the amount of a good that sellers are willing and able to sell

  • 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

  • stagflation

    a period of falling output and rising prices

  • 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

  • supply shock

    an event that directly alters firms’ costs and prices, shifting the economy’s aggregate supply curve and thus the Phillips curve

  • 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