- Module 28.1: Explain how each of the following would affect the quantity of mone...
- Module 28.2: How will each of the following affect the opportunity cost or benef...
- Module 28.3: What will happen to the money supply and the equilibrium interest r...
- Module 28.4: Which of the following is true regarding short-term and long-term i...
- Module 28.5: The quantity of money demanded rises (that is, there is a movement ...
Solutions for Chapter Module 28: The Money Market
Full solutions for Krugman's Economics for AP® (High School) | 2nd Edition
fluctuations in economic activity, such as employment and production
the equipment and structures used to produce goods and services
the ability to produce a good at a lower opportunity cost than another producer
two goods for which an increase in the price of one leads to a decrease in the demand for the other
a graph of the relationship between the price of a good and the quantity demanded
total revenue minus total cost, including both explicit and implicit costs
the property of distributing economic prosperity uniformly among the members of society
the one-for-one adjustment of the nominal interest rate to the inflation rate
costs that do not vary with the quantity of output produced
the study of how people behave in strategic situations
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
the costs of changing prices
a good for which, other things being equal, an increase in
a market structure in which only a few sellers offer similar or identical products
production possibilities frontier
a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology
the quantity of goods and services produced from each unit of labor input
the fraction of deposits that banks hold as reserves
an event that directly alters firms’ costs and prices, shifting the economy’s aggregate supply curve and thus the Phillips curve
costs that vary with the quantity of output produced