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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 1521 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
  • club goods

    goods that are excludable but not rival in consumption

  • club goods

    goods that are excludable but not rival in consumption

  • 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

  • economic profit

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

  • indexation

    the automatic correction by law or contract of a dollar amount for the effects of inflation

  • inferior good

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

  • marginal rate of substitution

    the rate at which a consumer is willing to trade one good for another

  • net exports

    spending on domestically produced goods by foreigners (exports) minus spending on foreign goods by domestic residents (imports)

  • perfect substitutes

    two goods with straight-line indifference curves

  • principal

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

  • prisoners’ dilemma

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

  • private saving

    the income that households have left after paying for taxes and consumption

  • profit

    total revenue minus total cost

  • public goods

    goods that are neither excludable nor rival in consumption

  • public goods

    goods that are neither excludable nor rival in consumption

  • quantity demanded

    the amount of a good that buyers are willing and able to purchase

  • reserves

    deposits that banks have received but have not loaned out

  • screening

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

  • surplus

    a situation in which quantity supplied is greater than quantity demanded

  • trade policy

    a government policy that directly influences the quantity of goods and services that a country imports or exports

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