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American Government - Solutions by Chapter

American Government | ISBN: 9781938168178 | Authors: Glen Krutz, Sylvie Waskiewicz

Full solutions for American Government

ISBN: 9781938168178

American Government | ISBN: 9781938168178 | Authors: Glen Krutz, Sylvie Waskiewicz

American Government - Solutions by Chapter

This textbook survival guide was created for the textbook: American Government, edition: . The full step-by-step solution to problem in American Government were answered by Patricia, our top Business solution expert on 01/24/18, 06:00AM. American Government was written by Patricia and is associated to the ISBN: 9781938168178. Since problems from 17 chapters in American Government have been answered, more than 4119 students have viewed full step-by-step answer. This expansive textbook survival guide covers the following chapters: 17.

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

    total cost divided by the quantity of output

  • behavioral economics

    the subfield of economics that integrates the insights of psychology

  • compensating differential

    a difference in wages that arises to offset the nonmonetary characteristics of different jobs

  • complements

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

  • cross-price elasticity of demand

    a measure of how much the quantity demanded of one good responds to a change in the price of another good, computed as the percentage change in quantity demanded of the first good divided by the percentage change in price of the second good

  • diseconomies of scal

    the property whereby long-run average total cost rises as the quantity of output increases

  • economies of scale

    the property whereby long-run average total cost falls as the quantity of output increases

  • efficiency wages

    above-equilibrium wages paid by firms to increase worker productivity

  • equality

    the property of distributing economic prosperity uniformly among the members of society

  • exports

    goods produced domestically and sold abroad

  • fixed costs

    costs that do not vary with the quantity of output produced

  • inflation tax

    the revenue the government raises by creating money

  • law of supply

    the claim that, other things being equal, the quantity supplied of a good rises when the price of the good rises

  • market risk

    isk that affects all companies in the stock market

  • moral hazard

    the tendency of a person who is imperfectly monitored to engage in dishonest or otherwise undesirable behavior

  • 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

  • natural level of output

    the production of goods and services that an economy achieves in the long run when unemployment is at its normal rate

  • political economy

    the study of government using the analytic methods of economics

  • stock

    a claim to partial ownership in a firm

  • supply schedule

    a table that shows the relationship between the price of a good and the quantity supplied

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