- Section 3.1: Refer to the following diagram for Questions 13. What is the value ...
- Section 3.2: Refer to the following diagram for Questions 13. What is the value ...
- Section 3.3: Refer to the following diagram for Questions 13. The $750 of wages,...
- Section 3.4: Refer to the following table for Questions 46 What is the value of ...
- Section 3.5: Refer to the following table for Questions 46 What is the value of ...
- Section 3.6: Refer to the following table for Questions 46 Which of the followin...
- Section 3.7: Investment spending includes spending on which of the following? a....
- Section 3.8: Which of the following is included in the calculation of GDP? a. in...
- Section 3.9: Which of the following is true for this year if real GDP is greater...
- Section 3.10: A countrys labor force is equal to which of the following? a. the n...
- Section 3.11: The number of people who are considered unemployed is equal to the ...
- Section 3.12: The unemployment rate is the number of people unemployed divided by...
- Section 3.13: The number of people counted as unemployed includes which of the fo...
- Section 3.14: A worker who is not working while engaged in a job search after mov...
- Section 3.15: A worker who is not working because his or her skills are no longer...
- Section 3.16: The normal unemployment rate around which the actual unemployment r...
- Section 3.17: Which of the following is true if the real wage rate is equal to th...
- Section 3.18: A worker who is unemployed due to fluctuations in the business cycl...
- Section 3.19: When inflation makes money a less reliable unit of measurement, the...
- Section 3.20: Bringing down the inflation rate is known as a. negative inflation....
- Section 3.21: The real interest rate is equal to the nominal interest rate a. min...
- Section 3.22: Who loses from unanticipated inflation? a. borrowers b. the governm...
- Section 3.23: Assume a country has a population of 1,000. If 400 people are emplo...
- Section 3.24: Which of the following changes will result in an increase in the na...
- Section 3.25: If the consumer price index rises from 120 to 132, what is the infl...
Solutions for Chapter Section 3: Measurement of Economic Performance
Full solutions for Krugman's Economics for AP® (High School) | 2nd Edition
a certificate of indebtedness
a tax designed to induce private decision makers to take account of the social costs that arise from a negative externality
cross-price elasticity of demand
a measure of how much the quantity demanded of one good responds to a change in the price of another good, computed as the percentage change in quantity demanded of the first good divided by the percentage change in price of the second good
a graph of the relationship between the price of a good and the quantity demanded
balances in bank accounts that depositors can access on demand by writing a check
the offering of different opportunities to similar individuals who differ only by race, ethnic group, sex, age, or other personal characteristics
diseconomies of scal
the property whereby long-run average total cost rises as the quantity of output increases
economies of scale
the property whereby long-run average total cost falls as the quantity of output increases
the property of society getting the most it can from its scarce resources
Federal Reserve (Fed)
the central bank of the United States
a person who receives the benefit of a good but avoids paying for it
unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills
a good for which an increase in the price raises the quantity demanded
the idea that taxpayers with similar abilities to pay taxes should pay the same amount
transfers to the poor given in the form of goods and services rather than cash
a good for which, other things being equal, an increase in income leads to a decrease in demand
the description of asset prices that rationally reflect all available information
a period of declining real incomes and rising unemployment
rivalry in consumption
the property of a good whereby one person’s use diminishes other people’s use
the idea that taxpayers with a greater ability to pay taxes should pay larger amounts