- Module 19.1: Describe the short-run effects of each of the following shocks on t...
- Module 19.2: Suppose a rise in productivity increases potential output and creat...
- Module 19.3: During stagflation, what happens to the aggregate price level and r...
- Module 19.4: Refer to the graph for Questions 4 and 5. Which of the following st...
- Module 19.5: Refer to the graph for Questions 4 and 5. The economy depicted in t...
Solutions for Chapter Module 19: Equilibrium in the Aggregate DemandAggregate Supply Model
Full solutions for Krugman's Economics for AP® (High School) | 2nd Edition
Solutions for Chapter Module 19: Equilibrium in the Aggregate DemandAggregate Supply ModelGet Full Solutions
the resources a bank’s owners have put into the institution
an excess of tax revenue over government spending
consumer price index (CPI)
a measure of the overall cost of the goods and services bought by a typical consumer
the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it
the interest rate on the loans that the Fed makes to banks
the quantity of output that minimizes average total cost
a good for which an increase in the price raises the quantity demanded
a good for which, other things being equal, an increase in income leads to a decrease in demand
law of demand
the claim that, other things being equal, the quantity demanded of a good falls when the price of the good rises
the increase in output that arises from an additional unit of input
a market structure in which many firms sell products that are similar but not identical
the quantity of money available in the economy
the tendency of a person who is imperfectly monitored to engage in dishonest or otherwise undesirable behavior
two goods with right-angle indifference curves
a legal minimum on the price at which a good can be sold
the equation M × V = P × Y, which relates the quantity of money, the velocity of money, and the dollar value of the economy’s output of goods and services
deposits that banks have received but have not loaned out
tax on goods produced abroad and sold domestically
an excess of exports over imports
the price of a good that prevails in the world market for that good