×
Log in to StudySoup

Forgot password? Reset password here

> > Economics: Concepts and Choices: Student Edition 2008 1

Economics: Concepts and Choices: Student Edition 2008 1st Edition - Solutions by Chapter

Economics: Concepts and Choices: Student Edition 2008 | 1st Edition | ISBN: 9780618594030 | Authors: MCDOUGAL LITTEL

Full solutions for Economics: Concepts and Choices: Student Edition 2008 | 1st Edition

ISBN: 9780618594030

Economics: Concepts and Choices: Student Edition 2008 | 1st Edition | ISBN: 9780618594030 | Authors: MCDOUGAL LITTEL

Economics: Concepts and Choices: Student Edition 2008 | 1st Edition - Solutions by Chapter

Since problems from 22 chapters in Economics: Concepts and Choices: Student Edition 2008 have been answered, more than 2854 students have viewed full step-by-step answer. This expansive textbook survival guide covers the following chapters: 22. The full step-by-step solution to problem in Economics: Concepts and Choices: Student Edition 2008 were answered by , our top Business solution expert on 03/05/18, 09:06PM. Economics: Concepts and Choices: Student Edition 2008 was written by and is associated to the ISBN: 9780618594030. This textbook survival guide was created for the textbook: Economics: Concepts and Choices: Student Edition 2008, edition: 1.

Key Business Terms and definitions covered in this textbook
  • budget surplus

    an excess of tax revenue over government spending

  • Coase theorem

    the proposition that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own

  • consumer surplus

    the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it

  • diversification

    the reduction of risk achieved by replacing a single risk with a large number of smaller, unrelated risks

  • equality

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

  • federal funds rate

    the interest rate at which banks make overnight loans to one another

  • Federal Reserve (Fed)

    the central bank of the United States

  • gross domestic product (GDP)

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

  • market economy

    an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services

  • market power

    the ability of a single economic actor (or small group of actors) to have a substantial influence on market prices

  • microeconomics

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

  • oligopoly

    a market structure in which only a few sellers offer similar or identical products

  • opportunity cost

    whatever must be given up to obtain some item

  • physical capital

    the stock of equipment and structures that are used to produce goods and services

  • principal

    a person for whom another person, called the agent, is performing some act

  • supply curve

    a graph of the relationship between the price of a good and the quantity supplied

  • tariff

    tax on goods produced abroad and sold domestically

  • transaction costs

    the costs that parties incur in the process of agreeing to and following through on a bargain

  • value of the marginal product

    the marginal product of an input times the price of the output

  • velocity of money

    the rate at which money changes hands

×
Log in to StudySoup
Get Full Access to Thousands of Study Materials at Your School

Forgot password? Reset password here

Join StudySoup for FREE
Get Full Access to Thousands of Study Materials at Your School
Join with Email
Already have an account? Login here
Reset your password

I don't want to reset my password

Need an Account? Is not associated with an account
Sign up
We're here to help

Having trouble accessing your account? Let us help you, contact support at +1(510) 944-1054 or support@studysoup.com

Got it, thanks!
Password Reset Request Sent An email has been sent to the email address associated to your account. Follow the link in the email to reset your password. If you're having trouble finding our email please check your spam folder
Got it, thanks!
Already have an Account? Is already in use
Log in
Incorrect Password The password used to log in with this account is incorrect
Try Again

Forgot password? Reset it here