Solutions for Chapter Module 28: The Money Market

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

ISBN: 9781464122187

Solutions for Chapter Module 28: The Money Market

Chapter Module 28: The Money Market includes 5 full step-by-step solutions. Since 5 problems in chapter Module 28: The Money Market have been answered, more than 3379 students have viewed full step-by-step solutions from this chapter. Krugman's Economics for AP® (High School) was written by and is associated to the ISBN: 9781464122187. This expansive textbook survival guide covers the following chapters and their solutions. This textbook survival guide was created for the textbook: Krugman's Economics for AP® (High School), edition: 2.

Key Business Terms and definitions covered in this textbook
  • behavioral economics

    the subfield of economics that integrates the insights of psychology

  • Condorcet paradox

    the failure of majority rule to produce transitive preferences for society

  • discount rate

    the interest rate on the loans that the Fed makes to banks

  • equilibrium

    a situation in which the market price has reached the level at which quantity supplied equals quantity demanded

  • free rider

    a person who receives the benefit of a good but avoids paying for it

  • income effect

    the change in consumption that results when a price change moves the consumer to a higher or lower indifference curve

  • indexation

    the automatic correction by law or contract of a dollar amount for the effects of inflation

  • inflation rate

    the percentage change in the price index from the preceding period

  • moral hazard

    the tendency of a person who is imperfectly monitored to engage in dishonest or otherwise undesirable behavior

  • national saving

    the total income in the economy that remains after paying for consumption and government purchases

  • permanent income

    a person’s normal income

  • poverty rate

    the percentage of the population whose family income falls below an absolute level called the poverty line

  • producer price index

    a measure of the cost of a basket of goods and services bought by firms

  • progressive tax

    a tax for which highincome taxpayers pay a larger fraction of their income than do low-income taxpayers

  • public goods

    goods that are neither excludable nor rival in consumption

  • real exchange rate

    the rate at which a person can trade the goods and services of one country for the goods and services of another

  • social insurance

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

  • surplus

    a situation in which quantity supplied is greater than quantity demanded

  • transaction costs

    the costs that parties incur in the process of agreeing to and following through on a bargain

  • world price

    the price of a good that prevails in the world market for that good

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