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Textbooks > Business > Econometric Analysis 5

Econometric Analysis 5th Edition - Solutions by Chapter

Full solutions for Econometric Analysis | 5th Edition

ISBN: 9780130661890

Econometric Analysis | 5th Edition - Solutions by Chapter

This textbook survival guide was created for the textbook: Econometric Analysis, edition: 5. The full step-by-step solution to problem in Econometric Analysis were answered by , our top Business solution expert on 03/13/18, 07:36PM. Since problems from 20 chapters in Econometric Analysis have been answered, more than 1069 students have viewed full step-by-step answer. This expansive textbook survival guide covers the following chapters: 20. Econometric Analysis was written by and is associated to the ISBN: 9780130661890.

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

    the limit on the consumption bundles that a consumer can afford

  • classical dichotomy

    the theoretical separation of nominal and real variables

  • closed economy

    an economy that does not interact with other economies in the world

  • economic profit

    total revenue minus total cost, including both explicit and implicit costs

  • economics

    the study of how society manages its scarce resources economies of scale the property whereby long-run average total cost falls as the quantity of output increases

  • efficiency

    the property of society getting the most it can from its scarce resources

  • Giffen good

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

  • inferior good

    a good for which, other things being equal, an increase in income leads to a decrease in demand

  • leverage ratio

    the ratio of assets to bank capital

  • macroeconomics

    the study of economy-wide phenomena, including inflation, unemployment, and economic growth

  • marginal change

    a small incremental adjustment to a plan of action

  • market

    a group of buyers and sellers of a particular good or service

  • 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

  • prisoners’ dilemma

    a particular “game” between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficial

  • producer price index

    a measure of the cost of a basket of goods and services bought by firms

  • producer surplus

    the amount a seller is paid for a good minus the seller’s cost of providing it

  • public saving

    the tax revenue that the government has left after paying for its spending

  • quantity supplied

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

  • 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

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