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Textbooks / Business / Krugman's Economics for AP® (High School) 2

Krugman's Economics for AP® (High School) 2nd Edition - Solutions by Chapter

Full solutions for Krugman's Economics for AP® (High School) | 2nd Edition

ISBN: 9781464122187

Krugman's Economics for AP® (High School) | 2nd Edition - Solutions by Chapter

Solutions by Chapter
4 5 0 393 Reviews
Textbook: Krugman's Economics for AP® (High School)
Edition: 2
Author: Margaret Ray
ISBN: 9781464122187

Since problems from 95 chapters in Krugman's Economics for AP® (High School) have been answered, more than 18713 students have viewed full step-by-step answer. This textbook survival guide was created for the textbook: Krugman's Economics for AP® (High School), edition: 2. The full step-by-step solution to problem in Krugman's Economics for AP® (High School) were answered by , our top Business solution expert on 03/14/18, 08:10PM. This expansive textbook survival guide covers the following chapters: 95. Krugman's Economics for AP® (High School) was written by and is associated to the ISBN: 9781464122187.

Key Business Terms and definitions covered in this textbook
  • absolute advantage

    the ability to produce a good using fewer inputs than another producer

  • budget constraint

    the limit on the consumption bundles that a consumer can afford

  • capital fligh

    a large and sudden reduction in the demand for assets located in a country

  • catch-up effect

    the property whereby countries that start off poor tend to grow more rapidly than countries that start off rich

  • cost–benefit analysis

    a study that compares the costs and benefits to society of providing a public good

  • crowding out

    a decrease in investment that results from government borrowing

  • externality

    the uncompensated impact of one person’s actions on the wellbeing of a bystander

  • fundamental analysis

    the study of a company’s accounting statements and future prospects to determine its value

  • income elasticity of demand

    a measure of how much the quantity demanded of a good responds to a change in consumers’ income, computed as the percentage change in quantity demanded divided by the percentage change in income

  • indifference curve

    a curve that shows consumption bundles that give the consumer the same level of satisfaction

  • law of demand

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

  • 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”

  • net exports

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

  • Phillips curve

    a curve that shows the short-run trade-off between inflation and unemployment

  • price floor

    a legal minimum on the price at which a good can be sold

  • real GDP

    the production of goods and services valued at constant prices

  • value of the marginal product

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

  • vertical equity

    the idea that taxpayers with a greater ability to pay taxes should pay larger amounts

  • welfare

    government programs that supplement the incomes of the needy

  • welfare economics

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