×
Log in to StudySoup
Get Full Access to Business - Textbook Survival Guide
Join StudySoup for FREE
Get Full Access to Business - Textbook Survival Guide

Solutions for Chapter 6: Inflation, Unemployment, and Stabilization Process

Krugman's Macroeconomics for AP* | 1st Edition | ISBN: 9781429257305 | Authors: Margaret Ray, David A. Anderson

Full solutions for Krugman's Macroeconomics for AP* | 1st Edition

ISBN: 9781429257305

Krugman's Macroeconomics for AP* | 1st Edition | ISBN: 9781429257305 | Authors: Margaret Ray, David A. Anderson

Solutions for Chapter 6: Inflation, Unemployment, and Stabilization Process

Since 17 problems in chapter 6: Inflation, Unemployment, and Stabilization Process have been answered, more than 2472 students have viewed full step-by-step solutions from this chapter. Chapter 6: Inflation, Unemployment, and Stabilization Process includes 17 full step-by-step solutions. Krugman's Macroeconomics for AP* was written by and is associated to the ISBN: 9781429257305. This expansive textbook survival guide covers the following chapters and their solutions. This textbook survival guide was created for the textbook: Krugman's Macroeconomics for AP*, edition: 1.

Key Business Terms and definitions covered in this textbook
  • aggregate-demand curve

    a curve that shows the quantity of goods and services that households, firms, the government, and customers abroad want to buy at each price level

  • Arrow’s impossibility theorem

    a mathematical result showing that, under certain assumed conditions, there is no scheme for aggregating individual preferences into a valid set of social preferences

  • budget deficit

    a shortfall of tax revenue from government spending

  • financial markets

    financial institutions through which savers can directly provide funds to borrowers

  • fundamental analysis

    the study of a company’s accounting statements and future prospects to determine its value

  • game theory

    the study of how people behave in strategic situations

  • indifference curve

    a curve that shows consumption bundles that give the consumer the same level of satisfaction

  • job search

    the process by which workers find appropriate jobs given their tastes and skills

  • marginal revenue

    the change in total revenue from an additional unit sold

  • microeconomics

    the study of how households and firms make decisions and how they interact in markets

  • 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 resources

    the inputs into the production of goods and services that are provided by nature, such as land, rivers, and mineral deposits

  • perfect substitutes

    two goods with straight-line indifference curves

  • 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

  • quantity theory of money

    a theory asserting that the quantity of money available determines the price level and that the growth rate in the quantity of money available determines the inflation rate

  • surplus

    a situation in which quantity supplied is greater than quantity demanded

  • tax incidence

    the manner in which the burden of a tax is shared among participants in a market

  • technological knowledge

    society’s understanding of the best ways to produce goods and services

  • utilitarianism

    the political philosophy according to which the government should choose policies to maximize the total utility of everyone in society

×
Log in to StudySoup
Get Full Access to Business - Textbook Survival Guide
Join StudySoup for FREE
Get Full Access to Business - Textbook Survival Guide
×
Reset your password