Solutions for Chapter Section 5: The Financial Sector

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

ISBN: 9781464122187

Solutions for Chapter Section 5: The Financial Sector

Solutions for Chapter Section 5
4 5 0 246 Reviews
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Textbook: Krugman's Economics for AP® (High School)
Edition: 2
Author: Margaret Ray
ISBN: 9781464122187

Chapter Section 5: The Financial Sector includes 25 full step-by-step solutions. 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. Krugman's Economics for AP® (High School) was written by and is associated to the ISBN: 9781464122187. Since 25 problems in chapter Section 5: The Financial Sector have been answered, more than 3449 students have viewed full step-by-step solutions from this chapter.

Key Business Terms and definitions covered in this textbook
  • aggregate-supply curve

    a curve that shows the quantity of goods and services that firms choose to produce and sell at each price level

  • Arrow’s impossibility theorem

    a mathematical result showing that, under certain assumed conditions, there is no scheme for aggregating individual preferences into a valid set of social preferences

  • benefits principle

    the idea that people should pay taxes based on the benefits they receive from government services

  • business cycle

    fluctuations in economic activity, such as employment and production

  • compensating differential

    a difference in wages that arises to offset the nonmonetary characteristics of different jobs

  • consumer surplus

    the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it

  • diseconomies of scal

    the property whereby long-run average total cost rises as the quantity of output increases

  • economics

    the study of how society manages its scarce resources

  • fundamental analysis

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

  • marginal change

    a small incremental adjustment to a plan of action

  • market economy

    an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services

  • market power

    the ability of a single economic actor (or small group of actors) to have a substantial influence on market prices

  • mutual fund

    an institution that sells shares to the public and uses the proceeds to buy a portfolio of stocks and bonds

  • Nash equilibrium

    a situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the other actors have chosen

  • profit

    total revenue minus total cost

  • real interest rate

    the interest rate corrected for the effects of inflation

  • substitutes

    two goods for which an increase in the price of one leads to an increase in the demand for the other

  • tariff

    tax on goods produced abroad and sold domestically

  • theory of liquidity preference

    Keynes’s theory that the interest rate adjusts to bring money supply and money demand into balance

  • welfare economics

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

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