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Solutions for Chapter 10: Financial Markets and Business Growth

Full solutions for Contemporary Economics | 2nd Edition

ISBN: 9780538444958

Solutions for Chapter 10: Financial Markets and Business Growth

Solutions for Chapter 10
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Textbook: Contemporary Economics
Edition: 2
Author: William A. McEachern
ISBN: 9780538444958

Contemporary Economics was written by Patricia and is associated to the ISBN: 9780538444958. This expansive textbook survival guide covers the following chapters and their solutions. Since 27 problems in chapter 10: Financial Markets and Business Growth have been answered, more than 1424 students have viewed full step-by-step solutions from this chapter. Chapter 10: Financial Markets and Business Growth includes 27 full step-by-step solutions. This textbook survival guide was created for the textbook: Contemporary Economics, edition: 2.

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

    an excess of government receipts over government spending

  • cartel

    a group of firms acting in unison

  • corrective tax

    a tax designed to induce private decision makers to take account of the social costs that arise from a negative externality

  • diseconomies of scal

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

  • dominant strategy

    a strategy that is best for a player in a game regardless of the strategies chosen by the other players

  • efficient scale

    the quantity of output that minimizes average total cost

  • liberalism

    the political philosophy according to which the government should choose policies deemed just, as evaluated by an impartial observer behind a “veil of ignorance”

  • marginal product

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

  • marginal product of labor

    the increase in the amount of output from an additional unit of labor

  • maximin criterion

    the claim that the government should aim to maximize the well-being of the worst-off person in society

  • menu costs

    the costs of changing prices

  • net capital outflow

    the purchase of foreign assets by domestic residents minus the purchase of domestic assets by foreigners

  • normative statements

    claims that attempt to prescribe how the world should be

  • oligopoly

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

  • present value

    the amount of money today that would be needed, using prevailing interest rates, to produce a given future amount of money

  • screening

    an action taken by an uninformed party to induce an informed party to reveal information

  • trade surplus

    an excess of exports over imports

  • transaction costs

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

  • union

    a worker association that bargains with employers over wages, benefits, and working conditions

  • welfare economics

    the study of how the allocation of resources affects economic well-being

Textbook Survival Guides

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