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Textbooks / Business / Krugman's Economics for AP* 2

Krugman's Economics for AP* 2nd Edition - Solutions by Chapter

Full solutions for Krugman's Economics for AP* | 2nd Edition

ISBN: 9781429218276

Krugman's Economics for AP* | 2nd Edition - Solutions by Chapter

Solutions by Chapter
4 5 0 418 Reviews
Textbook: Krugman's Economics for AP*
Edition: 2
Author: Margaret Ray, David A. Anderson
ISBN: 9781429218276

Krugman's Economics for AP* was written by and is associated to the ISBN: 9781429218276. This textbook survival guide was created for the textbook: Krugman's Economics for AP*, edition: 2. This expansive textbook survival guide covers the following chapters: 95. The full step-by-step solution to problem in Krugman's Economics for AP* were answered by , our top Business solution expert on 03/14/18, 08:08PM. Since problems from 95 chapters in Krugman's Economics for AP* have been answered, more than 6119 students have viewed full step-by-step answer.

Key Business Terms and definitions covered in this textbook
  • capital requirement

    a government regulation specifying a minimum amount of bank capital

  • circular-flow diagram

    a visual model of the economy that shows how dollars flow through markets among households and firms

  • collective bargaining

    the process by which unions and firms agree on the terms of employment

  • consumer surplus

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

  • consumer surplus

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

  • crowding-out effect

    the offset in aggregate demand that results when expansionary fiscal policy raises the interest rate and thereby reduces investment spending

  • demand curve

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

  • efficient markets hypothesis

    the theory that asset prices reflect all publicly available information about the value of an asset

  • equilibrium quantity

    the quantity supplied and the quantity demanded at the equilibrium price

  • incentive

    something that induces a person to act

  • inflation rate

    the percentage change in the price index from the preceding period

  • law of supply

    the claim that, other things being equal, the quantity supplied of a good rises when the price of the good rises

  • marginal tax rate

    the amount that taxes increase from an additional dollar of income

  • 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

  • maximin criterion

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

  • median voter theorem

    a mathematical result showing that if voters are choosing a point along a line and each voter wants the point closest to his most preferred point, then majority rule will pick the most preferred point of the median voter

  • monetary neutrality

    the proposition that changes in the money supply do not affect real variables

  • property rights

    the ability of an individual to own and exercise control over scarce resources

  • public goods

    goods that are neither excludable nor rival in consumption

  • social insurance

    government policy aimed at protecting people against the risk of adverse events

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